MGI Worldwide and CPAAI To Merge in January

Two professional accounting organizations, MGI Worldwide and CPA Associates International (CPAAI), are planning to merge on Jan. 1, and will represent more than 250 accounting, tax and consulting firms in almost 100 countries.

MGI Worldwide is a global network of independent audit, tax, accounting and advisory firms, headquartered in the U.K., and CPAAI is headquartered in Glen Rock, N.J. The new organization will have revenues approaching $1 billion, placing it in 16th position in the current global accountancy network ranking.

MGI Worldwide and CPAAI have complementary cultures and client service philosophies, the organizations say. They were both formed more than 60 years ago and are well established and active in their markets. The combination offers clients access to more than 9,000 professionals with a wide range of specialists.

Clive Viegas Bennett, CEO of MGI Worldwide, says, “This merger greatly strengthens the already solid market positions of both organizations and enhances our global reach, knowledge base, member offerings and services to valued clients. Our new global and regional management team will provide the leadership to take the combined organization to greater levels of success. The shared goal is to help keep all members up to date on the latest technical and business developments, exchange business best practices and expertise, and deepen our strong regional structure.”

Michael Parness, president of CPAAI, states, “Clients remain at the heart of all members’ firms and their goals and objectives are always paramount. The merger ensures that they will have additional ‘trusted advisors’ to call on for the industry expertise and support they need – regardless of where they operate in the world.”

The new group will be co-chaired by Roger Isaacs, chairman of MGI Worldwide, and Jim Holmes, the international chairman of CPAAI. Bennett will serve as CEO with Parness as COO.

HoganTaylor Moves Its Oklahoma City Office

Oklahoma City OMP Richard Wright and the firm’s other Oklahoma City partners host a ribbon-cutting ceremony.

Tulsa, Okla.-based HoganTaylor (FY18 net revenue of $47.3 million) has relocated its Oklahoma City office to a new, expanded space at 1225 N. Broadway Ave., Suite 200, in the city’s new Innovation District.

“In the accounting industry, we spend a lot of time thinking about the future and what changes may come as a result of new technology,” says Oklahoma City OMP Richard Wright. “At HoganTaylor, new technology is driving our transformation from a public accounting firm to a full-service business advisory firm. Our new space is a reflection of that transformation.”

The firm says the move not only accommodates additional growth but allows for greater participation in the city’s efforts to form innovative partnerships in the new district.

The new office is designed to allow for increased interoffice collaboration and idea sharing.

“The No. 1 thing that’s going to change for our profession is that our clients are going to demand that we help them get better and not just do their compliance work,” says Randy Nail, CEO of HoganTaylor. “Our new space fosters the kind of collaboration and innovation we’ll need to help our clients get better, but it’s just one of many ways we’re innovating our future at HoganTaylor.”

HoganTaylor is also investing in new service lines through a merger with RainRock IT Services. A new subsidiary, HoganTaylor Technology, began doing business Nov. 1, offering a suite of information technology services, including managed information technology services, outsourced CIO and technology solutions, cybersecurity services, and IT strategy and assessments.

“In the future, if a client needs anything related to a business issue, whether it’s an IT need, a marketing need, an HR need or really anything, we want HoganTaylor to be the first place they turn,” Nail says. “Our move in Oklahoma City and this beautiful new space both support that goal.”

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Speer & Associates and Whitley Penn Unite

Speer & Associates Ltd. of Dallas joined Fort Worth, Texas-based Whitley Penn (FY18 net revenue of $114.1 million) on Nov. 1. The group will work out of the Plano, Texas, location.

“This is a great opportunity to offer our clients additional services and industry experience locally, nationally and internationally,” says M.L. Speer, MP of Speer & Associates.

The Speer & Associates team of professionals are known for their full-service tax planning and consulting experience with a strong concentration in the real estate industry.

“M.L. and his team bring added tax and consulting experience to our firm. They share the same value of relationships being the foundation and we look forward to this next chapter together,” says Larry Autrey, MP for Whitley Penn.

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Marcum LLP Merges in CPA Consulting Group in Nashville

New York-based Marcum LLP (FY18 net revenue of $549.7 million) has announced a merger with CPA Consulting Group of Nashville, effective Nov. 1.

The firm adds two partners and 15 associates to Marcum’s Nashville office. Cathy Werthan, CPACG president, becomes Marcum’s Nashville OMP.

CPACG was a full-service accounting firm providing a full range of professional, technical, consulting and business services to individuals and business clients in more than a dozen industries, including real estate; law; architecture, engineering and construction; creative services; and medicine and dentistry, among others. Services encompassed accounting, tax, valuation and financial planning.

“Cathy Werthan and Bryan Jones have built an exceptional team with deep roots locally and regionally. They will be great stewards of our combined growth and expanded service portfolio to our Nashville clients,” says Jeffrey Weiner, Marcum’s chairman and CEO.

“We have long been aware of Marcum’s strength in the middle-market and see tremendous synergies between our firms, particularly given Marcum’s focus on construction in Nashville, which is a great complement to our design-build client portfolio,” Werthan says.

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EFPR Group Continues to Expand in Buffalo, N.Y.

Rochester, N.Y.-based EFPR Group (FY17 net revenue of $25.4 million) is merging in the accounting practice of Nowicki & Company of West Seneca, N.Y., into its Williamsville, N.Y., office.

The merger, effective Nov. 1, is expected to bring benefits to the clients and employees of both organizations and strengthen the business services EFPR Group now provides to its client base of more than 10,000.

“Our decision to unite with the West Seneca practice was based on the outstanding quality and service Ray Nowicki has provided to clients for over 30 years,” says James I. Marasco, EFPR Group MP. “The Nowicki & Company reputation for providing extraordinary tax planning, preparation and consulting is consistent with our mission to help clients make intelligent and informed financial decisions.”

He adds that the firm is considering additional mergers and acquisitions in upstate New York.

Raymond Nowicki, Laura Geiger and Paul Kiel will join EFPR Group as partners and will be responsible for client relations, new business development and growing the commercial services practice. Additional staff members will also join as part of this transition.

EFPR Group has been serving clients across the United States and abroad for 60 years with a comprehensive array of tax consulting and planning services in addition to auditing, forensic accounting, business valuation, accounting, outsourcing automation services and other business management services.

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Klein Hall Joins Wipfli

Milwaukee-based Wipfli (FY19 net revenue of $362.5 million) has announced that the partners and associates of Klein Hall of Aurora, Ill., joined the firm Nov. 1.

This transaction marks the firm’s seventh in the Chicago area in five years and will add 25 Klein Hall employees, including five partners, to Wipfli’s presence there.

“This will add an office to our footprint in the western suburbs of Chicago, enhancing our physical presence in the market and helping Wipfli to become an even stronger leader in providing audit, tax and consulting services to Chicagoland’s organizations and businesses,” says Kurt Gresens, Wipfli’s MP.

Klein Hall focuses primarily on business advisory services and consulting, serving as controllers and CFOs for mid-size companies. The firm has a strong practice serving businesses in the construction industry, as well as professional services, manufacturing and distribution businesses and conducting audits of local governments.

Klein Hall MP Christina Klein Trapp says, “We are proud of Klein Hall’s success over the years and our strong reputation for delivering quality solutions to our clients while also providing exceptional service. Joining forces with Wipfli provides us with national resources and more extensive capabilities to continue to serve our clients’ evolving needs while also providing career and development opportunities to our employees, which will help us continue to retain and attract the best and brightest professionals in the industry.”

Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the transaction, says, “Wipfli continues with their strategic journey throughout Chicago by finding another very dynamic and entrepreneurial firm in Klein Hall. Wipfli’s rapid expansion and growth in the Chicago market has received national attention due to its successful integration and excellent results. Klein Hall has also been recognized nationally as one of the fastest-growing private companies in the United States and has received many national workplace awards. This is a great step for both firms.”

The firm now has more than 2,400 associates and 50 offices.

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Florida Construction Specialists Join CLA

Construction industry specialist firm Forehand & Associates of Orlando, Fla., has joined CliftonLarsonAllen LLP (CLA) (FY18 net revenue of $954.6 million).

“Joining the team at CLA allows us to continue to provide our construction clients with the same quality service we have provided for the past 26 years,” says Whit Forehand, MP of Forehand & Associates. “It also allows us to offer CLA’s deep experience in wealth advisory and outsourcing to our construction clients, and a wide range of quality audit, tax and consulting services to industries not currently served by Forehand & Associates.”

Forehand & Associates has focused exclusively on the construction industry and related enterprises since 1993, providing financial statements, income tax strategy, merger and acquisition consultation, litigation support and general business advice.

“This year, CLA was recognized as the No. 1 ranked construction accounting firm in the United States by Construction Executive,” says Les Eiserman, managing principal of CLA Orlando. “Welcoming Whit and his team deepens and reinforces our commitment to creating opportunities for our clients in the construction industry.”

Forehand says that for clients, the transition should be seamless. The seven former Forehand & Associates team members will continue to serve clients locally and nationally from Orlando, alongside CLA’s Florida team of nearly 300 professionals.

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Great Northern Advisory Team Joins Armanino

Caroline Stovall

San Ramon, Calif.-based Armanino (FY18 net revenue of $267.2 million) has announced that Great Northern Advisory, a financial consulting firm in Dallas, has joined the firm.

Founder Caroline Stovall has been admitted as a partner to lead the firm’s CFO advisory practice, effective Nov. 1. The Great Northern Advisory team is made up of 15 consultants with decades of experience in a variety of Big 4, consulting and operational roles, including as CFOs and controllers.

CEO Matt Armanino says the firm is committed to expanding the practice. “The Great Northern Advisory team brings deep expertise in health care, accounting process transformation, system implementations, acquisition integrations, interim financial management, accounting support, private equity and transaction advisory services that perfectly complement our CFO advisory practice.”

The Great Northern Advisory team will be based in Armanino’s Dallas office.

“Armanino is a great fit for our team, because the firm recognizes the importance of a strategic CFO organization – something that is at the core of our practice,” Stovall says.

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Sikich to Acquire Scanlon & Leo

Naperville, Ill.-based Sikich (FY18 net revenue of $168.7 million) plans to acquire Scanlan & Leo of Oak Brook, Ill., on Nov. 1. John Scanlan and Joseph Leo will be admitted as partners.

“The addition of Scanlan & Leo will strengthen our accounting, tax and audit services,” says Tom Krehbiel, PIC of CPA services. Scanlan & Leo offers accounting, audit, tax compliance and planning, and advisory services to companies across industries.

“We were drawn to Sikich because of the firm’s impressive talent and commitment to technology-driven innovation,” says Scanlan, co-owner. He adds that clients will have access to a wider range of services while employees will enjoy new resources and opportunities for professional growth.

The Scanlan & Leo team will join Sikich’s Naperville office.

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Wallace Neumann & Verville to Join Eide Bailly

Wallace Neumann & Verville of Las Vegas will be joining Fargo, N.D.-based Eide Bailly (FY19 net revenue of $341.7 million) on Nov. 18, the firms announced.

The three partners and 13 staff at Wallace Neumann & Verville will move into Eide Bailly’s existing Las Vegas office, bringing more knowledge and expertise in several key industries, including entertainment, construction, medical practices and more.

“Our clients will now have access to services and resources that will help them find solutions to their challenges as seamlessly as possible, whether that’s help with state and local tax issues, international deals or cybersecurity concerns,” says partner Brad Wallace.

Chris Wilcox, PIC of Eide Bailly’s Las Vegas office, says, “Wallace Neumann & Verville has built a strong reputation as exceptional business advisors in the Las Vegas Valley. We look forward to adding their talents in our work with many important industries in the region.”

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