McGladrey Expands Through Transaction With Fesnak

Chicago-based McGladrey LLP (FY14 net revenue of $1.5 billion) announced the signing of a definitive agreement to acquire substantially all the assets of Blue Bell, Pa.-based Fesnak, LLP (FY13 net revenue of $10.6 million), a member of PrimeGlobal.

Fesnak has been serving clients for more than 10 years with physical locations in Blue Bell and New York. The firm is made up of eight partners and 90 client service professionals who will join McGladrey, including Bob Fesnak and Lisa McLemore who will assume roles on McGladrey’s Philadelphia leadership team. They will join McGladrey’s more than 250 people working in four area offices.

“McGladrey’s vision is to be the first-choice advisor to middle market leaders,” says Joe Adams, MP and CEO of McGladrey. “To achieve this, we need to have scale and highly relevant service offerings in the locations where middle market companies operate. We are pleased to join forces with Fesnak LLP to increase our presence in Philadelphia.”

“Fesnak has been tremendously successful and we are proud of the firm we have built,” said Bob Fesnak, MP of Fesnak, LLP.  “We are taking an important next step in our strategic growth plan by joining forces with McGladrey.  We have done well in our niche for years and we believe that becoming a part of McGladrey will secure our future for the long term to benefit our clients and our employees.”