M&A Roundup: Vrakas acquires Radke & Schlesner; Wealth Enhancement Group buys CPA Retirement Planning

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Vrakas acquires Radke & Schlesner

Details: Vrakas CPAs + Advisors has acquired Radke & Schlesner, S.C., effective Dec. 1, 2017.

The combined firm will have nearly 65 professionals providing assurance, tax, business advisory, valuation, technology, small business accounting and employee benefit plan services. Financial terms and revenue figures were not disclosed. Vrakas has 10 shareholders and 42 staff members, while Radke has two shareholders and nine staff members. All of Radke’s employees are relocating to Vrakas’s headquarters in Brookfield, Wis.

Vrakas plans to continue specializing in serving closely held and family-owned businesses and their owners, along with private equity and employee stock ownership plan-owned companies in different industries, including construction, dealerships, manufacturing, distribution, nonprofit, professional services, real estate and retail.

“We are extremely excited about this growth opportunity which we believe will deliver greater value to our clients,” said Radke & Schlesner shareholder Cheryl Mayer in a statement.

The addition of Radke & Schlesner will expand Vrakas’s small business accounting practice with QuickBooks accounting help and assistance, general ledger and financial statement preparation, bookkeeping, accounting system setup and support, payroll processing, cash flow budgeting and forecasting.

“From the start, we were impressed with Radke & Schlesner’s leadership and their talented group of professionals who have defined their firm’s success,” stated Vrakas president Jim Holmes. “Together our firms share similar business structures, strong financial health, longevity among its employees and top-notch accounting services delivered to our clients. By joining practices, these traits will only strengthen and expand.”


Wealth Enhancement Group buys CPA Retirement Planning

Details: Wealth Enhancement Group, a wealth management firm in Minneapolis with over $7.5 billion in client assets, has acquired CPA Retirement Planning, a practice based in Jacksonville, Fla., that is affiliated with National Planning Holdings.

The acquisition extends WEG’s footprint to the Florida market. CPA Retirement Planning provides tax planning, financial planning and investment management for retail and business clients. Financial terms of the deal were not disclosed.

WEG serves more than 10,000 clients in over 40 states. It was founded in 1997 and is backed by Lightyear Capital LLC, a private equity firm specializing in financial services investing.

John Linge, managing principal and senior financial advisor of CPA Retirement Planning, will lead WEG’s Jacksonville office. “After a thorough review of several options, our combination with Wealth Enhancement Group emerged as the best approach for our business and our clients,” he said in a statement.

The deal advances WEG’s long-term strategy of establishing itself as a top national wealth management and financial planning brand. “This is an acquisition that reflects our continued growth, as well as the dynamic value proposition we offer as a highly experienced, succession planning-driven transaction partner,” said WEG CEO Jeff Dekko in a statement. “Adding CPA Retirement Planning's business to Wealth Enhancement Group provides a servicing platform for clients in Florida and also allows CPA Retirement Planning’s clients to benefit from the extended expertise of our Roundtable team of specialists.”

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M&A Integrations