M&A roundup: Deals in Virginia and Michigan

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A second merger in Michigan -- and a fourth in Virginia: Details on two recent firm combinations.


Polk & Associates adds Kirschner, Hutton, Perlin

Details: Polk & Associates has hired Ken Perlin and his staff, formerly of Kirschner, Hutton, Perlin, based in Southfield, Michigan. The deal, announced in August, expands Polk’s valuation, audit, assurance, business acquisition, estate and succession planning, tax planning and compliance services.

Polk, based in St. Clair Shores, was founded in 1979 and specializes in serving clients in the manufacturing, real estate and health care industries. Financial terms were not disclosed.

“We are thrilled to welcome Ken and his staff to our team,” said Polk managing partner Rick Williams in a statement. “This latest merger follows our philosophy of growing strategically by identifying talented people that can help us enhance our service offerings. Their combined experience and expertise will be a true competitive advantage for our clients and our company as a whole.”

Perlin sees the move as a benefit for his staff and clients. “Joining Polk & Associates is a significant and very positive step for our team and clients,” he stated. “The enhanced level of client-centric services will enable the best possible service to and for our clients and long-term opportunity for our team.”

Earlier this year, Polk expanded to Ann Arbor, Michigan, by merging in Rogow & Loney.


Sareen merges in Howser

Details: Sareen and Associates, a firm based in Manassas, Virginia, is continuing a string of mergers, adding Howser and Associates Ltd., a tax and accounting firm in Springfield, Virginia, effective immediately.

This is the fourth merger announced by Sareen and Associates in the past three months. The firm was founded by Arun Sareen 25 years ago, and is still wholly owned by him. It has more than 50 employees nationwide, including seven CPAs, four MBAs, three enrolled agents and two chartered accountants.

Howser and Associates was founded by Larry Howser in 1982, and he was the sole owner. He had five employees, including one EA. However, he is retiring, prompting him to sell his firm to Sareen. Financial terms were not disclosed.

“We have always done the best work we could for every single one of our clients since 1982, and that adds up to a lot of years of deadlines, great memories, great relationships and great service,” Howser said in a statement. “I have no worries about how our clients will get serviced in the future with Sareen and Associates. I’ve seen a lot in my years in this business, and they are top-notch. It definitely makes the exit as owner easier."

Sareen said the merger would help him expand his firm further. “We are always looking to increase both our client base and our geographic footprint, but it has to be a partner that shares our commitment to excellent service, and the same level of professional competencies we have developed over 25 years of providing tax, accounting, payroll and business consulting to our small business clients,” he stated. “I’m happy to say we found that professional services firm in Howser and Associates, and we couldn't be more delighted with this union.”

Other recent M&A deals for the firm include AC Chianese CPA PC in Honolulu, Moran and Co. in Manassas, and Accutax in Annandale, Virginia.

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