MichaelSilver expands to Chicago by merging in Lerman
MichaelSilver, a firm based in Skokie, Illinois, is extending its footprint to Chicago by merging in Lerman CPA Group Inc., effective Nov. 1.
The merger fits in with MichaelSilver’s strategy to strengthen its presence in the Chicago market, while opening a second office in downtown Chicago. Financial terms of the deal and revenue figures for both firms were not disclosed. After the deal, MichaelSilver will have a total of 19 partners, four directors and 30 professional staff. The combined firm employs a total of 78 people including administrative, marketing, IT and bookkeeping staff. Lerman CPA Group’s professionals will now operate under the MichaelSilver name and serve clients from MichaelSilver’s new Chicago office.
Irwin Lerman founded Lerman CPA Group in 2014 and has been providing accounting services to clients in the Chicago area for more than 48 years.
“Lerman CPA Group is an ideal partner for MichaelSilver,” said MichaelSilver managing partner Jennifer Barliant in a statement. “The firm has an outstanding track record of client service, a similar focus on specialized practice areas, and a workplace culture that is complementary to ours. We are delighted to welcome Irwin Lerman, his team and clients to MichaelSilver. The team will also be actively engaged in helping to expand the firm’s presence in Chicagoland and broaden our existing industry specializations.”
Lerman said he was proud of his firm and the client relationships he has established. “The merger with MichaelSilver will be advantageous for my team and clients,” he stated. “MichaelSilver shares our philosophy of helping clients grow, succeed, and prosper. As part of MichaelSilver’s newly combined 80-person firm, we will be able to increase service offerings to our legacy clients with access to additional resources and expanded accounting, tax, and business consulting expertise that will provide significant added value.”