RKL to merge in Padden Guerrini
RKL, a Top 100 Firm, is adding Padden, Guerrini & Associates, a firm in Mechanicsburg, Pa., effective Jan. 1, 2018.
The firm, formerly known as Reinsel Kuntz Lesher before it rebranded last year, will expand RKL’s presence in Central Pennsylvania and expertise in servicing the credit union and senior living industries. RKL acquired several other specialty firms last year, including GTM Risk Management in Radnor, Pa., and a pair of Sage software resellers, Baesis and Accuvar.
The combination with PGA will bolster the size of RKL’s local team in the Greater Capital Region of Pennsylvania to approximately 50 people. PGA’s five partners and 26 team members will join RKL, which employs nearly 400 people in Pennsylvania and other locations. The Mechanicsburg office will be the sixth office for RKL’s CPA and business consulting firm in Pennsylvania, which also has locations in Lancaster, Harrisburg, Reading, York and Allentown. The firm serves clients in all 50 states and has locations across the country through its technology consulting unit, RKL eSolutions.
Financial terms of the deal were not disclosed. However, PGA’s annual revenue was $4 million, while RKL’s revenue figure for 2016 was $62.2 million. RKL, based in Lancaster, Pa., ranked 65th on Accounting Today’s 2017 list of the Top 100 Firms.
“This transaction was a logical fit for both firms,” said RKL CEO Edward W. Monborne in a statement. “From RKL’s perspective, the opportunity to merge in a team of professionals with an exemplary dedication to our key industries as well as to the Greater Capital Region is a true win for our strategic growth initiatives,”
PGA specializes in serving senior living providers and its medical billing practice will become part of RKL’s Senior Living Services Consulting Group, a provider of financial, operational and compliance services for the post-acute care industry.
“Personalized attention, consistent relationships and high-quality service have long been hallmarks of PGA’s client commitment,” PGA president David Padden said in a statement. “By joining the RKL team, not only are we able to maintain these principles, but we can also tap into cutting-edge capabilities that will allow us to expand and build upon the tax, accounting and consulting services we provide to commercial and individual clients.”