Clifton Gunderson and LarsonAllen, ranked as two of the nation’s top 20 certified public accounting and consulting firms, on Nov. 1 announced plans to merge and form one of the top-10 accounting firms in the United States.
The partners of both firms have agreed to the combination. Pending final approvals, the merger will take effect Jan. 2, 2012. The new firm will be named CliftonLarsonAllen (CLA).
The new firm will have more than $550 million in combined revenue, employ more than 3,600 professionals, including 500-plus partners, and will operate from 25 states and Washington, D.C.
“This merger of peer firms changes the landscape of the accounting profession and pioneers a new trend by focusing primarily on private companies and their owners,” said Clifton Gunderson chief executive officer Kris McMasters. “We will be the firm of choice, the champions and leading resource center for privately held companies, proactively addressing their needs with our comprehensive suite of services. The firm will be positioned as the go-to source of information, knowledge and unique offerings for owners and leaders looking for assistance in achieving their personal and business dreams and objectives.”
Gordy Viere, chief executive officer of LarsonAllen, said industry specialization has been at the core of both firms’ practices.
“Coming together heightens our capacity to develop that vital focus and extend it beyond our accounting and advisory services to our wealth management and outsourcing capabilities,” he said. “This cohesive trio of industry-focused guidance is uncommon for private businesses and public sector organizations. It’s a powerful new resource for them.”
CLA will have a national wealth management practice positioned as one of the top three in the accounting profession, with nearly $3 billion in assets under management. The combined firm will boast a $50 million industry-specialized outsourcing practice to help clients meet their financial, tax regulatory compliance and reporting responsibilities. In addition, CLA will have the capacity to help clients with international dealings successfully do business in a global environment.
