Rancho Cucamunga (Feb. 12, 2004) -- Vavrinek, Trine, Day & Co. LLP has strengthened its foothold in Northern California and bolstered its tax practice there with the merger of Pearson, Del Prete & Co., of Palo Alto, into its fold.
The merger added one office, two partners, 15 employees and $2.9 million in revenue, creating a firm with combined net revenue of more than $22 million, six offices and more than 170 employees, including 26 partners.
“The merger allowed us to really round out our Northern California practice from a geographic as well as a business point of view,” said Thomas Brewer, a partner in VTD’s San Jose office. “We were much more heavily concentrated in Northern California in the audit area than we were firm-wide and we needed to beef up our ability to provide high-level tax services to our business and executive clients. It was a perfect fit with the Palo Alto practice, which was primarily tax with audit as a small percentage of their practice.”
Prior to the merger, which became effective last month, Brewer said VTD drew 61 percent of its fees from audit and compilation review, 20 percent from consulting, 8 percent from tax, and the balance from write-up and general accounting work. Now, the firm’s breakdown is 57 percent audit, 18 percent consulting, 15 percent tax, and 10 percent write-up and general accounting. The Northern California market is currently VTD’s fastest growing region. Brewer noted that, post-merger, the Northern California tax practice will approach $4 million in revenue.
PDP managing partner Richard Blake joined VTD as managing partner of the Palo Alto office.
-- Melissa Klein
