Reilly, Penner & Benton said it has merged with another Wisconsin accounting firm, Ragsdale, Spitz & Reuschlein.

Ragsdale has offices in Madison and McFarland, while Reilly is based in Milwaukee. The deal went into effect on Oct. 1. Reilly partner Steve Volz declined to disclose the financial terms of the deal, but said that Ragsdale earns close to $2 million in revenue, while Reilly earns $6 million. Reilly has 40 employees, not including the employees joining from Ragsdale.

All 16 employees at Ragsdale are expected to remain at the merged firm, and Reilly will maintain both of Ragsdale's earlier locations.

"We wanted to get a presence in the Madison area," said Volz. "We have a couple of similar niches. It's a good fit. It gives us an opportunity to serve clients in the Madison and Milwaukee corridor."

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