Skoda Minotti Is on an M&A Roll

Skoda Minotti has completed the acquisition of the Akron, Ohio-based Lomax, Soful & Foster, Inc. Terms of the deal were undisclosed.

Skoda’s news follows several transactions the firm announced throughout the year. Its most recent CPA firm additions took place over the summer. In July, it expanded its tax practice in Cleveland, (see Skoda Minotti Merges in Gerald M. Appel Tax Firm). The firm then stepped out to get a piece on the Central Florida market in September, (see Skoda Minotti Acquires Baumann Raymondo).

Its latest addition of Lomax, Soful & Foster, which has been in business since 1929, provides accounting, tax and consulting services to companies throughout the Akron market. “The acquisition of Lomax, Soful & Foster allows us to better serve our Akron clients and business partners,” Skoda Minotti chairman Greg Skoda said in a statement.

The entire staff of Lomax, Soful & Foster will be integrated into Skoda Minotti’s office in Fairlawn, Ohio. As part of the deal, Michael Soful and Jeffrey Foster will join the firm as accounting and auditing partners, and Lawrence Foster, will join the firm as a tax partner.

“We look forward to being able to provide our clients with the additional depth and breadth of services and resources offered by Skoda Minotti,” Soful stated. “We look forward to continuing to help grow our business with our new team at the firm, both in the Akron area and throughout the region.”