M&A roundup: Deals in California and Wisconsin

California

Pisenti & Brinker merges in Zainer Rinehart Clarke

Details: Pisenti & Brinker LLP and Zainer Rinehart Clarke, two firms based in Sonoma County, are combining under the Pisenti & Brinker name, effective Jan. 1, 2019.

Three ZRC partners — Betsy Stewart, Linda Kachiu and Danielle Sandoval — are joining the combined firm, where P&B already has five partners: Jim Perez, Ray Pounds, Tim Moratto, Brett Bradford and Josh Moore.

The two firms have a combined 92-year history in the region. In addition to P&B’s headquarters in Santa Rosa, the firm will also have offices in Petaluma, Napa and St. Helena with 31 CPAs and nearly 80 employees. Financial details were not disclosed.

“When we began to look at this opportunity we realized just how similar the two firms are in terms of core values, client composition and services,” said Perez, who is P&B’s co-managing partner, in a statement. “This is no surprise given the history of leadership and community focus at both P&B and ZRC. We have long-respected Betsy, Linda, Danielle and the work of their team at ZRC, and we welcome the diversity they will bring to the new P&B.”

The combined firm will offer tax planning, management advice, audit and assurance services, valuation and litigation support and, estate and succession planning. P&B focuses on a number of different industries, including construction, real estate, wineries, vineyards and other agriculture, manufacturing, nonprofits, retail, food and beverage, hospitality, and governmental and municipal agencies. P&B is a member of the RSM U.S. Alliance, while ZRC is a member of DFK International, an association of independent global accounting firms and business advisors.

“We are thrilled to have found such a complimentary fit and opportunity to take our practice to the next level for our employees and clients,” said ZRC Managing Partner Betsy Stewart in a statement. “I am confident that our clients will not only be comfortable with still being able to work directly with the team they know, but they will also greatly benefit from the additional resources we will be able to provide.”

Jim Andersen of Hemming Morse, LLP provided transaction advisory services for the merger.

“Having been immersed in the North Bay accounting scene for my more than 45-year career with great familiarity with the people and work of P&B and ZRC, I can tell you that this combination is a true win-win for its collective clients and employees,” he said. “The synergies that these two firms share in terms of client offerings and employee culture make them an ideal fit. I look forward to the trajectory of P&B as it ascends into an even stronger foothold on the market, helping North Bay Area small to midsize businesses – the backbone of our local economy and vitality – thrive.”

Wisconsin

Hawkins Ash CPAs adds Mequon office of Anderson Tackman

Details: Hawkins Ash CPAs said the Mequon office of Anderson, Tackman & Company, PLC and its partners Jeffrey W. Knorr and Daniel R. Moriarty will be joining them, enabling Hawkins Ash CPAs to expand its presence into southeastern, Wisconsin, effective Dec. 1, 2018.

“This merger fits well into our growth, development and service strategy,” said Hawkins Ash managing partner Abraham Leis in a statement. “With the addition of Jeff and Dan’s practice, we now have nine offices in Wisconsin and Minnesota and are very excited to start serving clients in southeastern Wisconsin. Jeff and Dan, along with their team, bring a multitude of knowledge to Hawkins Ash, particularly in tax, accounting and auditing services. Their expertise complements ours, so clients can expect more service options and an even higher level of service.”

Knorr and Moriarty will continue as partners working from their old Mequon office. “We couldn’t be happier to join Hawkins Ash,” said Moriarty. “We’re especially excited for our clients to reap the rewards of the support and stability of such a well-established, respected firm.”

Hawkins Ash CPAs dates back to 1956 and provides audit, accounting, tax, and consulting services to individuals, privately held businesses, nonprofit organizations, governmental entities, credit unions and housing authorities. Financial details of the deal were not disclosed.

Hawkins Ash said it is now a $19.5 million firm with six offices in Wisconsin and three in Minnesota, along with 18 partners and more than 130 professionals.

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