CliftonLarsonAllen merges in Schenck
Schenck SC, an Appleton, Wisconsin-based CPA firm, is joining CliftonLarsonAllen, effective Jan. 1, 2019, bringing together a pair of Top 100 Firms.
Schenck offers audit, accounting, tax and business consulting services to private companies and middle-market organizations in Wisconsin and other states. The firm dates back to 1930 and has 10 offices throughout Wisconsin.
Financial terms of the deal were not disclosed. Schenck has annual revenue of $88 million, while CLA has $850 million in annual revenue. Schenck ranked 55th on Accounting Today’s 2018 list of the Top 100 Firms, while CLA ranked 8th.
“With our similar client service philosophies and cultures, joining CLA is a natural fit,” said Schenck president and shareholder Daniel Young in a statement. “For our clients, we’ll bring greater and more diversified services. In addition, we’ll create exciting growth opportunities for our team. We anticipate a seamless integration for both clients and team members, and look forward to beginning this new journey.”
Young will be leading the Wisconsin region as chief practice officer. The merger will enable CLA to serve clients from 18 locations throughout Wisconsin. The more than 600 current Schenck employees, including over 60 shareholders, will continue to work from their existing offices, expanding CLA’s Wisconsin team to more than 1,000 professionals. CLA has more than 5,400 people across its entire firm, including over 700 principals.
“We exist to create opportunities for our clients, our people, and our communities,” said Steve DeBruyn, chief practice officer of CLA Eastern Midwest region, in a statement. “As the world around us rapidly evolves, we continuously build our practice to lead the pace of change and innovation. Schenck has a strong reputation in Wisconsin and a solid team of well-respected professionals. Together we strengthen our ability to serve.”
CLA has done a number of smaller mergers this past year, including with MWA CPA + Business Advisors in Plano, Texas, last month; Darton Group Consulting in Charlotte, North Carolina, and Duggan & Massey in Atlanta in July; Laffer & Gottlieb in Beverly Hills in May; and NSBN in Los Angeles at the beginning of the year.