Small Business Resources, Business Advice and Forms from AllBusiness.com

Strategic Moves

By Anonymous
Publication: Inside Public Accounting
Date: Saturday, April 1 2006

Virchow Krause & Co. of Madison, Wis., added about $12 million in two recent mergers that bolster the firm's presence in major Midwestern markets. The firm merged in William F. Gurrie & Co., based in the Chicago suburb of Oak Brook, Ill. - right on the heels of a deal with Kleiman Carney &

Greenbaum in suburban Detroit. The Gurrie deal adds approximately $5 million in net revenue; KC&G brings approximately $7.5 million. Gurrie's revenue comes almost exclusively from government work, and the deal adds four partners and 40 total staff. The deal gives VK&Co. more than 175 professionals in its Public sector practice, and approximately 155 in the Chicago area. Gurrie MP Tim Cole becomes VK&Co.'s team leader for state and local services in Illinois. Plans call for the downtown Chicago and Oak Brook offices to grow to 200 people each within three years. Consultant Allan D. Koltin of PDI Global in Chicago represented Gurrie in the deal. KC&G brings eight partners and 53 total staff. The deal gives VK&Co. three Detroitarea locations, which will be combined into one 50,000-square-foot location in the suburb of Southfield. VK&Co. CEO Tim Christen expects the firm to employ more than 200 people in Detroit by 2007; the KC&G deal gives the firm 175 employees there. VK&Co. has FY06 net revenue of $170 million, 143 partners, 1,152 total staff and 11 offices.

Other firms are equally busy making deals of note. Minneapolisbased LarsonAllen expanded its not-for-profit practice with the merger of Langan Associates, which has offices in Chicago, New York, and Arlington, Va. The deal brings LarsonAllen's Public Services Group from 85 professionals to more than 125. LarsonAllen has FY05 net revenue of approximately $119 million, 84 partners, 807 total staff and 10 offices... BKD, based in Springfield, Mo., bought Grant Thornton's practice in Colorado Springs, Colo. The deal brings BKD's Colorado practice, which includes an office in Denver, to $18 million and 130 total staff. Two partners and 17 total staff from GT join BKD ($258. 7 million, 191 partners, 1,557 total staff, and 27 offices)... Levine, Jacobs & Co. of Livingston, N.J., (FY05 net revenue: $3 million, nine members, 27 total staff) merged in the practice of Mario Galazzo of Union, NJ. Galazzo joins the firm as a partner. The deal brings five professionals to LJ&Co. Galazzo's business focuses on the service and manufacturing sectors ... HBK Sorce Financial, the financial services affiliate of Hill Barth & King, based in Boardman, Ohio, has more than $ 1 billion in assets managed after its merger with Presque Isle Capital Management... Indianapolis-based Crowe Chizek & Co. completed its deal with Madsen Sapp Mena Rodriguez & Co. of Fort Lauderdale, Fla., which bolsters its South Florida presence and its construction and manufacturing practices.

In addition, make sure to read these articles: