H&R Block subsidiary RSM McGladrey Inc., a national accounting and consulting firm focused on serving the middle market, has boosted its presence in northern Illinois with the acquisition of the non-attest assets of the Rockford office of BDO Seidman LLP.
McGladrey & Pullen LLP acquired the audit and attest assets of the Rockford office in a separate transaction.
BDO Seidman's exit from Rockford makes RSM McGladrey the only national provider of accounting, tax and business consulting services in the area, and boosts RSM McGladrey's Rockford by about 15 people to 145. BDO partners Bob Wright and Maribeth Speckman joined M&P as partners.
"BDO's decision to leave Rockford was a good opportunity for us to combine that office with our practice. Their focus in that area was similar to ours -- owner-managed businesses and high-net-worth individuals. It's a nice fit with we what already had," said Bob Early, a managing director with RSM McGladrey and a partner with McGladrey & Pullen.
The deal marks the firm's first acquisition in the area since 1996, when it acquired the local office of then-Coopers & Lybrand, according to Early, who noted that McGladrey & Pullen has had an office in Rockford since 1970.
Together, RSM McGladrey and McGladrey & Pullen, a partner-owned CPA firm, ranked sixth on the Accounting Today 2004 Top 100 Firms list, with revenue of nearly $596 million. The firms have an alternative practice structure in which each is a separate and independent legal entity.
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