Please ensure Javascript is enabled for purposes of website accessibility

It Appears That Non-Story of LarsonAllen and Clifton Gunderson Merging Is a Real Story Now

Last month we broke the news of LarsonAllen and Clifton Gunderson feeling each other out about a possible merger. At the time, Clifton Gunderson CEO Krista McMasters told Going Concern that the two firms were simply in “exploratory discussions” and it wasn’t a story. Sorta like when two celebrities are seen vacationing on a yacht together. Everyone just assumes they’re banging, will eventually be a couple and the new celeb couple name game begins instantly. However, it turns out that they are “just friends” who are “enjoying time together.” For this particular round, our sources told us that LA and CG were “50/50,” that LarsonAllen had approved the merger and that the new merged firm would be known as CliftonLarsonAllen. Again, at the time of our discussion, Ms. McMasters denied that anything had been decided.

Well, today, it appears that the “exploring” went pretty well and the name game was right on the money:

Clifton Gunderson and LarsonAllen have confirmed they plan to merge in the New Year into a combined firm known as CliftonLarsonAllen. The two firms said Tuesday they would combine, effective January 2, to create one of the top 10 accounting firms in the U.S., with combined revenues of between $550 million and $560 million.

Not to nitpick but by Accounting Today’s count, the combined revenues would be closer to $470 million. I haven’t punched a 10-key in a number of years but that’s the number I got. I guess sometimes you just gotta take their word, amiright? ANYWAY, since these two firms were simply in “exploratory discussions” it’s pretty impressive that they were able to slap this deal together so quickly isn’t it?

The two firms began discussions in the spring and made rapid progress. “As often happens in our profession, firms get together to talk about what it might look like if they ever were to come together and how they might help each other,” said LarsonAllen CEO Gordy Viere.

Gosh, I must have a warped idea of what “exploratory” means. And by “spring” I assume that’s the period between late March and late June? And by rapid progress, does that mean, in three months they were still in “exploratory discussions” and nowhere near a deal, only to fall into each other’s arms less than a month later? I need help with this.

Clifton Gunderson and LarsonAllen to Merge [AT]

Last month we broke the news of LarsonAllen and Clifton Gunderson feeling each other out about a possible merger. At the time, Clifton Gunderson CEO Krista McMasters told Going Concern that the two firms were simply in "exploratory discussions" and it wasn't a story. Sorta like when two celebrities are seen vacationing on a yacht together. Everyone just assumes they're banging, will eventually be a couple and the new celeb couple name game begins instantly. However, it turns out that they are "just friends" who are "enjoying time together." For this particular round, our sources told us that LA and CG were "50/50," that LarsonAllen had approved the merger and that the new merged firm would be known as CliftonLarsonAllen. Again, at the time of our discussion, Ms. McMasters denied that anything had been decided. Well, today, it appears that the "exploring" went pretty well and the name game was right on the money:

Clifton Gunderson and LarsonAllen have confirmed they plan to merge in the New Year into a combined firm known as CliftonLarsonAllen. The two firms said Tuesday they would combine, effective January 2, to create one of the top 10 accounting firms in the U.S., with combined revenues of between $550 million and $560 million.

Not to nitpick but by Accounting Today's count, the combined revenues would be closer to $470 million. I haven't punched a 10-key in a number of years but that's the number I got. I guess sometimes you just gotta take their word, amiright? ANYWAY, since these two firms were simply in "exploratory discussions" it's pretty impressive that they were able to slap this deal together so quickly isn't it?

The two firms began discussions in the spring and made rapid progress. “As often happens in our profession, firms get together to talk about what it might look like if they ever were to come together and how they might help each other,” said LarsonAllen CEO Gordy Viere.

Gosh, I must have a warped idea of what "exploratory" means. And by "spring" I assume that's the period between late March and late June? And by rapid progress, does that mean, in three months they were still in "exploratory discussions" and nowhere near a deal, only to fall into each other's arms less than a month later? I need help with this.

Clifton Gunderson and LarsonAllen to Merge [AT]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

some vaguely futuristic concept image

KPMG Is Putting ChatGPT to Work, It Probably Won’t Be Stealing Your Job For Now

KPMG Australia has joined PwC in deploying AI to get some work done, finally giving us the “robots taking your job” scenario we’ve been eager for since at least 2010. It’s here! Funny enough, KPMG blocked staff from using ChatGPT a little less than two months ago, though it did allow certain IT professionals to […]

EY building

EY Split Update: There’s a Battle Royale Going Down This Week

Does anyone still care about the EY split? Did anyone ever? Well, here’s your semi-weekly update anyway. Wall Street Journal reports that EY Global CEO Carmine Di Sibio and EY US Chair Julie Boland will be going head-to-head in Palo Alto this week to hash things out. As you may remember, Boland dared to raise […]