Accounting firm Templeton & Co. has combined practices with James Machen Chartered, a CPA and consulting firm based in Boca Raton, Fla.
Machen brings a total of seven staffers to the combined firms, which now include 40 professionals who provide tax, audit, estate planning and technology consulting services to high-net-worth clients. The firm will now have three offices in South Florida - in West Palm Beach, Boca Raton and Fort Lauderdale - along with an office in New York City.
"They have two things that we look for," said Steve Templeton, president and managing partner of Templeton & Co. "They have great people and they have great clients." The merger will allow his firm to expand further in South Florida. He noted that both he and Machen share a Coopers & Lybrand background. "We have known of each other for a long time, and it's a very comfortable merger for both of our organizations," he said.
Templeton & Co. had $5.1 million in South Florida billings in 2006, according to the South Florida Business Journal's Book of Lists, and is projecting growth to well beyond $6 million this year. The merger went into effect on Jan. 1.
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