Virchow Krause Merger Opens Doors to the Windy City Market

Last week, Virchow Krause & Company, LLP announced its merger with KGN Financial Group.

In making the announcement, KGN Financial Group Managing Member, Stephen D. Levin, stated, “This merger will provide our clients with access to many additional services and areas of expertise. Combining our practices will strengthen our base of industry knowledge and expertise and offer our clients many specialized services to meet their growing needs.” Levin will serve as Managing Partner of the Chicago practice and will hold a seat on the firm’s Executive Committee.

As Virchow Krause, the former KGN Financial Group will continue to operate from its existing location on Michigan Avenue.

According to The Accounting Report by Art Bowman, the firms combine to have more than 850 staff including 122 partners, $132 million revenue for the trailing year ($121 million at VK and $11 million at KGN) and 12 offices. VK budgets for $145 million in the coming year. "We want to be a $200 million firm in 2007," Christian says. He wants 200+ professionals in each of the firm's five major offices.

“When we look for firms with which to merge, we look at the quality of the people and the reputation of the firm. We also look for firms that serve clients similar to ours, and are located in areas in which we would like to expand our practice,” said Tim Christen, CEO of Virchow Krause. “KGN Financial Group has an impressive reputation as a high quality firm and we view the Chicago market as a very viable and growth-oriented market.”

As for the future, Levin is optimistic about the firm’s continued growth in the areas that are most important to its clients. “We need to be on the cutting edge of providing a full complement of services that our clients want and need. As Virchow Krause, we will enhance our ability to deliver the high quality and expansive services that our clients require.”

You may like these other stories...

By Cathy Stopyra and Todd SimmensUnderpayment interest, refund interest, and penalties charged to businesses are just a few of the considerations the IRS calculates when determining taxation for a given company. Though...
FASB mulling a revamped income statementDavid M. Katz of CFO wrote on Tuesday that the Financial Accounting Standards Board (FASB) is in the early stages of researching whether to launch a project aimed at improving and...
Renaissance avoided more than $6 billion tax, report saysThe Senate Permanent Subcommittee on Investigations said on Monday that a Renaissance Technologies LLC hedge fund’s investors probably avoided more than $6...

Upcoming CPE Webinars

Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.