CLA Merges in Southern California Firm

Glendora, Calif.-based Vicenti Lloyd & Stutzman has joined Minneapolis-based CLA (FY15 net revenue of $650.7 million), the firms announced.

“We decided to join CLA so that we could offer our clients deeper knowledge and expanded capabilities when they need it, while retaining the personal service and approach we have today,” says Linda Saddlemire, Vicenti MP/CEO.

For nearly 64 years, Vicenti has served individuals and organizations both large and small. The firm specializes in serving the educational, governmental and nonprofit niches.

“CLA’s breadth and depth of knowledge in a variety of industries as well as its unique wealth advisory and outsourcing services will be incredibly beneficial to our clients,” Saddlemire says. “And Vicenti’s more than 60 years of experience serving the education, government, nonprofit, and commercial business industries, as well as serving individuals with their tax preparation and planning needs, is a great complement to CLA’s existing capabilities. Together we will provide better, stronger service to our clients.”

Vicenti explored merging with a larger firm as part of its strategic planning process and selected CLA from a half dozen or so national, mega-regional and regional firms, says Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the merger. “Simply stated, they felt the CLA platform, culture and ability to be on the ground floor of growing California (and the Southwest) in their areas of specialization made for the perfect combination.”

Under the terms of the agreement, Vicenti will assume the CLA name, and Saddlemire will continue to manage the Glendora office and assist Randy Wells, CLA managing principal of Los Angeles, in creating a presence for CLA in the region. Vicenti also has a Los Angeles office.

The other eight Vicenti partners will also be joining CLA as principals or directors. Clients will continue to be served by their regular staff.

“There is tremendous synergy between the Vicenti and CLA teams,” says Wells. “Together, we remain committed to serving clients large and small, from individuals to the education, government, nonprofit, and commercial business sectors.”