M&A roundup: Deals in Nebraska and Illinois

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Lutz acquires Shonsey

Details: Lutz, a firm with offices in Omaha, Lincoln, Hastings and Grand Island, Neb., is acquiring Shonsey, Placke, Maruska & Stava, P.C., also known as Shonsey & Associates, a firm based in Grand Island, effective May 1, 2018.

Financial terms were not disclosed. Lutz has annual revenues of $45 million and 250 employees, while Shonsey has revenues of $3 million and 25 employees. Lutz ranked 8th on Accounting Today’s 2017 Regional Leaders list for the Midwest.

Lutz will provide Shonsey’s clients with financial planning, wealth management, recruiting, staffing, technology consulting, custom software development, managed network services, and merger and acquisition advisory services.

“Lutz’s expansion reflects our commitment to build and strengthen our presence in the Grand Island community as well as Central Nebraska,” said Lutz managing shareholder Mark Duren in a statement. “We have a common mission of delivering high level business solutions to invigorate success for our clients.”

Four current Shonsey & Associates shareholders will join Lutz as shareholders, he noted.

“Our goal as a firm is to continue to grow to ensure our clients receive the personality, attentiveness and care of a locally owned accounting firm with the breadth of services you expect from a national and international organization,” said Brad Fegley, president of the Lutz Grand Island office in a statement. “Our combined offices will provide Lutz the opportunity to continue to invest in the community through additional employment and expanded opportunities.”

Last year, Lutz merged in McDermott & Miller, a firm with offices in Hastings, Grand Island and Omaha.


Noyes buys Kiely

Details: Noyes, a 110-year-old wealth management and investment banking firm, has acquired Kiely & Associates, LLC, a 25-year-old Chicago tax and accounting practice founded by John J. Kiely.

Kiely & Associates will provide family office, tax, and business services to Noyes’ wealth management and financial planning clients. The family office services represent an expansion of Noyes’ core business. Financial terms were not disclosed.

“John launched Kiely & Associates with the ardent commitment to his client’s best interests,” said Noyes COO Matthew Reynolds in a statement. “This focus will serve Noyes well as we continue to expand our service offering.

Kiely started his practice from Checkers, Simon and Rosner in Chicago where he served market makers, seat holders, independent securities, and futures traders on the Chicago Board Options Exchange, The Board of Trade, and the Chicago Mercantile Exchange. He started his career in 1977 as a Special Agent for the IRS.

“The decision to integrate my practice with Noyes was driven by our shared belief that clients’ needs come first,” Kiely said in a statement. “Noyes’ 110-year-old reputation and their holistic approach to financial decision-making could not be a better fit.”

Kiely grew up in the Chicago area, earning his undergraduate degree from St. Mary’s College and his Juris Doctorate from DePaul University.

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