Clark Schaefer Hackett expands to Michigan with double merger
Warmels & Comstock and Layton & Richardson, two accounting firms based in East Lansing, Michigan, have agreed to merge with Top 100 Firm Clark Schaefer Hackett, effective July 1, 2019.
As part of the deal, Layton & Richardson’s staff will move to Warmels & Comstock’s offices. The location will grow to include approximately 50 professionals, including four shareholders. After the acquisition, CSH will have a total of approximately 450 employees.
Financial terms of the deal were not disclosed. CSH, based in Cincinnati, ranked No. 70 on Accounting Today’s 2019 list of the Top 100 Firms, with $64.24 million in annual revenue.
Warmels & Comstock and Layton & Richardson have been in the area for over 50 years, and plan to continue to provide accounting and tax services to businesses and individuals after combining with CSH. The merger will help them expand their business advisory services to include data analytics, operational process improvement, strategic HR, and more.
“We are excited to have Warmels & Comstock and Layton & Richardson join CSH,” said CSH president Kerry Roe in a statement. “Both firms have established practices that exemplify CSH’s mission of bettering the lives of our clients, people and communities. We are looking forward to expanding our reach in Michigan.”
“Our firm culture of putting the client first, working hard, and acting with integrity is a perfect match for the culture at CSH,” stated Warmels & Comstock co-founder Dan Warmels. “We look forward to a smooth transition that will enhance our service offerings and provide additional growth opportunities for our staff,”
“We have a long history of proudly serving the Greater Lansing community,” said Vickie Crouch, a principal at Layton & Richardson. “We look forward to helping local businesses thrive by providing the additional resources that CSH brings to the table.”
CSH has done a number of strategic acquisitions in recent years. Last October, it acquired Definity Partners, a workforce development, training and technology firm based in Cincinnati. Over the past few years, CSH has acquired other CPA and advisory firms in Ohio, such as JD Cloud in Cincinnati and Schoonover Boyer & Associates in Columbus in 2014 and LublinSussman Group in Toledo in 2017.