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Combination Increases Firm Footprint and Secures Presence in New Market
MILWAUKEE, Wis. (October 29, 2010) – Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms, today announced it has acquired Farrell & Associates – a full-service Certified Public Accounting firm based in Rockford, Illinois. The Rockford location joins Clifton Gunderson’s Illinois practice with nine offices in Champaign, Danville, Dixon, Evanston, Joliet, Oak Brook, Peoria, Princeton and Sterling. Managing Partner Steve DeBruyn and Partner-in-Charge Todd Etheridge will lead the new Rockford office. The acquisition of Farrell & Associates is effective November 1, 2010.
“Securing a presence within the Rockford market allows us to enter a new market in Northern Illinois, which is closely located to our Dixon, Princeton and Sterling offices as well as the greater Chicagoland area,” said CEO Kris McMasters. “Since 1960, we’ve had a strong presence and leadership throughout each of our Illinois offices. We are excited about the many growth opportunities the joining of our two firms means to our clients and our future clients.”
Farrell & Associates has earned a solid reputation with its clients within the Rockford and surrounding communities for quality service and expertise. As a full-service firm with a strong tax and assurance practice, its experts serve clients in a number of industries including manufacturing, wholesale distribution, construction and real estate, and healthcare.
Through this combination, three Farrell & Associates’ partners including Robert Farrell, Michael Abrahams, Michele Reagan will join Clifton Gunderson as partners. In addition to these partners, 15 Farrell & Associates’ professionals will also join the firm. Farrell, who has been an active member of the Rockford business community for 28 years and founded Farrell & Associates in 2002, will continue to play an integral leadership role within the Rockford office and building business for the combined firms.
“With Clifton Gunderson’s strong presence across the country, joining our firm with Clifton Gunderson will allow us to expand our tax and accounting services and supports our desire to grow in additional strategic services,” said Farrell. “We are excited about the tremendous network of resources offered by Clifton Gunderson, which will enhance the opportunities to serve our clients’ needs of tomorrow.”
Clifton Gunderson started in business in Illinois in 1960. During its 50 year history, the Illinois practice has grown to more than 400 partners and professionals providing a wide range of assurance, accounting, tax, entrepreneurial business, wealth management, and valuation and forensics services to its clients.
This is the fifth merger and acquisition announcement for Clifton Gunderson since May 2010. Earlier this year, the firm announced it had acquired St. Louis, Missouri-based Humes & Barrington, Philadelphia, Pennsylvania-based Stockton Bates, Evanston, Illinois-based U.S. Tax Advantage and the former BKD office in Merrillville, Indiana.
About Clifton Gunderson
Clifton Gunderson, ranked as one of the nation’s largest certified public accounting and consulting firms and the largest U.S. member firm of HLB International, provides a wide range of assurance, tax and consulting services to clients in a variety of industries. Founded in 1960, Clifton Gunderson has a staff of more than 1,900 professionals serving clients from 46 offices across the country. Clifton Gunderson, and the separate and independent member firms of HLB International, provides personal and high quality service to clients in over 100 countries through the HLB International “Global Care” approach. For more information about Clifton Gunderson, visit http://www.cliftoncpa.com.
