Perkins & Co, the largest locally owned accounting firm in Portland, Ore., plans to merge in Thompson Kessler Wiest & Borquist PC, a local boutique firm, on July 1.
TKWB has more than 30 years of experience servicing clients in the construction, real estate and manufacturing industries, while also specializing in international and expatriate tax. The combined firms will operate under the Perkins & Co. name in Perkins’ offices. Perkins & Co. ranked 22nd on Accounting Today’s 2016 Regional Leaders list for the Top Firm in the West, with $22.87 million in annual revenue.
The merger will add 18 employees and five shareholders, bringing the total firm size to more than 150 employees plus 24 shareholders. The TKWB shareholders joining the Perkins executive team as shareholders are John Thompson, David Kessler, Robert Wiest, Jim Borquist and Katie Powell.
“This merger is significant for everyone at Perkins,” said Perkins & Co. president and shareholder Gary Reynolds in a statement. “We are excited to expand our reach in the Northwest with the help of a new partner that shares our values and passion for making our clients satisfied and successful. I look forward to welcoming TKWB’s exceptional shareholders, employees and clients to the Perkins family. TKWB supports our mission in every aspect of our business and culture. We look forward to growing together.”
Perkins was founded in Portland in 1986 with the goal of providing a local alternative to the national accounting firms. The merger fits in with Perkins’ growth strategy, strengthening its capabilities in industries and practice areas such as real estate and construction, manufacturing and distribution, expatriate and international taxation, and employee benefit plan audits.
“The values of both firms are highly compatible, with a similar business philosophy and service delivery models that focus on stability and growth, innovative tools and solutions, and active involvement with our clients,” said TKWB tax shareholder David Kessler. “Our clients will benefit from a wider array of capabilities to help them reach their goals, while still receiving the same personal customer service TKWB is known for. This merger simply means that two well-established and reputable accounting firms are combining forces, resulting in a stronger, better-equipped team to serve our clients.”
TKWB was founded in 1981 with the mission of providing accounting, tax and business consulting services that support client growth and enhance stability.
“Throughout Oregon and the Pacific Northwest Perkins is regarded as one of the top CPA firms in the entire region,” commented Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the merger. “In addition to their great leadership and talent they are probably one of the most innovative firms in the entire country. Their merger with TKW&B (another Portland Top 15 CPA firm) adds significant expertise and specialization to the firm and will provide TKW&B clients with even greater depth and resources.
“The discussions began exactly a year ago last June,” Koltin recalled. “The decision was an easy one for TKW&B as the cultures, values, and goals were so consistently similar,” he added. “You could see the chemistry and fit in the very first couple of meetings as both firms discussed their passion for providing exceptional client service and their commitment to growing top talent. Perkins is already the largest independent CPA firm based in Portland and now is very close to being one of the 100 largest CPA firms in the entire country.”
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