May 1999 Issue


In March 1999, The CPA Managing Partner Report issued a special report on the activities of the major consolidators. The report enumerated the acquisitions of this group since January 1, 1997, and the list is impressive. American Express Tax and Business Services acquired 22 firms, with names such as Goldstein Golub Kessler; Checkers Simon & Rosner; and Altschuler, Melvoin and Glasser, all top 50 firms. Century Business Services acquired close to 50 firms, with 276 partners and 1,748 professionals. HRB Business Services acquired seven firms, with total revenues of $74.2 million, 70 partners, and 456 professionals.

The report suggests that being acquired by a consolidator has become quite respectable and no longer is considered to be "selling out." The CPA Managing Partner Report is a privately circulated monthly newsletter published by Strafford Publications, Inc., in Atlanta, Ga. *

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