Top 100 accounting firm Mountjoy Chilton Medley LLP plans to merge in Cincinnati-based CPA firm Cooney Faulkner & Stevens, effective Jan. 1, 2016.
MCM is a large regional accounting firm with nearly 300 employees in five offices. The deal will enable the combined firm to provide a wider array of services and depth of expertise to clients, particularly in the areas of exit planning and transaction advisory services. MCM ranked 87th on Accounting Today’s 2015 list of the Top 100 Firms, with $39.1 million in annual revenue.
The merger will enable Louisville, Ky.-based MCM to expand its footprint to Cincinnati.
“MCM has been searching for a great Cincinnati partner to expand our presence and impact in this critical market,” said MCM managing partner Diane Medley in a statement. “The entrepreneurial attitude of the CFS co-founders and partners, combined with their value-added mindset, culture, community involvement and name recognition, was exactly what we needed.”
MCM's Cincinnati employees will be relocating to CFS’s Hyde Park office in Cincinnati. The office will now operate as MCM and all traditional CFS services will continue to be offered.
CFS, like MCM, offers traditional tax and accounting services, along with consulting offerings in exit and transition planning, financial forensics services, outsourced CFO services, business valuation and transaction services, among many other areas of expertise.
“CFS has enjoyed remarkable growth in the Cincinnati market since our founding more than 16 years ago”, said Thomas M. Cooney, who founded the firm in 1999 in partnership with Crystal L. Faulkner and Charles R. Stevens II. “With the combination of our ongoing growth and our clients’ ever-changing needs, we knew it was time to reassess how to continue providing top-notch customer service that was truly advantageous and supportive of our entire client base.”
“For us it’s always been about putting our clients first,” said Faulkner. “So it was critical for us to partner with a firm that would allow us not only to maintain the relationships we’ve built but to continue cultivating our personal client connections and community involvement. This transition will allow us to expand not only the reach of our expertise, but its breadth as well and we’re thrilled to begin working alongside the MCM team.”
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