Two Accounting Firms Announce Merger

Libman, Goldstine, Kopperman & Wolf of Cleveland, will merge with Akron, Ohio-based Bober, Markey, Fedorovich on Nov. 1, according to Crain’s Cleveland Business. Richard Fedorovich, MP and CEO at Bober Markey, said the merger aligns with the firm’s ongoing plans for expansion into Greater Cleveland. The merger is an effort to spur expansion efforts faster than organic growth alone can provide, Fedorovich said. The converged firm will comprise more than 100 employees and 47 CPAs.

“Cleveland is going through an economic recovery and a renaissance in very many ways,” says Keith Libman, a partner at Libman Goldstine. “This combination for both Bober Markey and Libman Goldstine will create a platform to be part of that very exciting growth going on in Greater Cleveland.”

Allan Koltin, CEO of Koltin Consulting Group Inc., who advises CPA firms on mergers and acquisitions, said he believes the merger is a “perfect” move for Bober Markey because of its desire for growth and mutually beneficial for Libman Goldstine because of the instant expansion of its potential customer reach. “This will give (Libman Goldstine), overnight, a lot of the resources to provide expanded services to existing clients,” says Koltin. “It will also provide them opportunities to target potential clients that they may not have had an opportunity to reach with the size that they were at.”