Herbein + Company has acquired Michael L. Cross & Company, Ltd., a CPA firm in Pottstown, Pa.

Herbein is based in Reading and has offices in six other cities in the Keystone State. All of Cross’s employees are expected to join Herbein, including Cross himself, and they will continue to work out of the Pottstown office. Financial terms of the deal were not disclosed, but one of the reasons was succession planning.

“As our business clients grow, they require greater industry knowledge and strategic planning,” Cross said in a statement. “Our individual clients will benefit from Herbein’s depth in areas such as estates, retirement, education, income tax, trusts, investments and other areas of personal finance. Another important aspect of this merger is to provide a succession plan for our clients. While neither my colleague Cindy Smith nor I plan to retire any time soon, this transaction assures continued quality services for all our clients into the foreseeable future.”

Herbein + Company's offices in Reading, Pennsylvania
Herbein + Company's offices in Reading, Pennsylvania Photo courtesy of Herbein + Company

Herbein COO Michael J. Rowley believes the acquisition will position the firm to address the economic growth in the area. “We have respected Michael L. Cross & Company, Ltd. for many years, so this is a particularly exciting transaction,” Rowley said in a statement. “We share a commitment to building long-term client relationships, and we believe that Herbein’s resources and experience will further enhance every client experience. Montgomery County is poised for great economic growth for small and midsized businesses, and we are thrilled to add our firm’s eighth office in the heart of Pottstown.

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Michael Cohn

Michael Cohn

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985.