Virchow, Krause & Co. LLP announced a merger with Farmington Hills, Mich.-based Kleiman, Carney & Greenbaum.
Financial terms of the deal were not disclosed.
"Kleiman, Carney & Greenbaum enjoys a wonderful reputation, a wealth of experience and outstanding clients," said Virchow Krause chief executive Tim Christen, in a statement. "We could not ask for a better partner to serve the growing needs of our clients in Detroit."
After merging with Zalenko & Associates in January 2005, Christen has said that his firm's goal was to have more than 200 employees in Detroit by 2007. With the Kleiman, Carney & Greenbaum acquisition, Virchow Krause will have a total of 170 total staff in the greater Detroit area, after entering the market in November 2003. The will add $7.5 million in revenue and 53 professional staff, including 8 partners. Christen said the deal will allow the firm to expand its services and capabilities, especially in the real estate, wholesale and distribution, and non-profit industries.
As of June 1, the firms will complete the merger by combining all three of its Detroit offices into a new prominent location in Southfield, Mich. Virchow Krause will gain greater visibility by placing its name atop a 19-story building, where it will occupy two floors and approximately 50,000 square feet of space.
Also effective June 1, Craig Nelson will succeed Barry Allen as the regional managing partner for the Detroit region. Nelson, who joined the firm over 15 years ago, is currently a firm-wide industry leader at the firm headquarters in Madison, Wis.
Virchow Krause has offices in Illinois, Michigan, Minnesota and Wisconsin and is an independent member of Baker Tilly International.The addition of Kleiman, Carney & Greenbaum boosts Virchow Krause to a firm wide total of 151 partners, and a total staff of over 1,200. The firm ranked No. 17 on Accounting Today's 2006 list of Top 100 Firms, with revenues of $150 million. By the end of the next fiscal year, Virchow Krause anticipates its net revenue will exceed $200 million.
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