Honkamp Krueger & Co., P.C., has acquired a fellow Iowa-based firm, Gabelmann & Associates, effective Jan. 1, 2018.

Honkamp is based in Dubuque, while Gabelmann is located in Bettendorf. Financial terms of the deal were not disclosed.

Honkamp Krueger ranked 61st on Accounting Today’s 2017 list of the Top 100 Firms, with $68.1 million in annual revenue. The combined firm will have 50 partners, including Bill Gabelmann. The staff headcount is 481, but is expected to grow to more than 500 during tax season. The acquisition of Gabelmann & Associates added 10 professionals to Honkamp, including Gabelmann himself.

Besides Dubuque and Bettendorf, Honkamp also has offices in Cedar Rapids and Davenport, Iowa, Geneseo, Ill., Madison and Platteville, Wis.

“Upon the heels of our newly expanded and remodeled campus on 35th Street in Davenport, we are excited to welcome the talented professionals of Gabelmann & Associates to the HK Family,” said Jon Thoms, HK’s partner-in-charge of the Quad Cities market, in a statement. “Our firms have a good cultural fit, passion for client service, and are excited to continue to grow our presence in the Quad Cities together.”

William (Bill) Gabelmann, founder and former partner of Gabelmann & Associates, is joining Honkamp Krueger as a partner. “This new partnership allows us to greatly expand our services through the HK Family of Companies with a continuation of the personalized and professional service from all existing Gabelmann & Associates team members,” he stated. “We are very excited for the opportunities the two firms together creates for our clients and our teams.”

Honkamp Krueger & Co.
Courtesy of Honkamp Krueger & Co.

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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.