What's Happening?
CliftonLarsonAllen (CLA), a top 20 accounting firm, has acquired Perkins & Co., a regional leader in accounting and advisory services based in Portland, Oregon. This acquisition, effective immediately, enhances CLA's footprint in the Pacific Northwest
by adding 200 employees and nearly $50 million in revenue. Perkins & Co. is known for serving privately held businesses and nonprofits across Oregon and Washington. CLA, which reported $2.1 billion in revenue and employs nearly 9,300 people across 120 offices, sees this acquisition as a strategic move to strengthen its service offerings in the region. The deal was facilitated by the long-standing relationship between the two firms, emphasizing a shared vision and cultural alignment.
Why It's Important?
The acquisition of Perkins & Co. by CLA is significant as it consolidates CLA's position in the Pacific Northwest, a region with a growing economy and diverse business landscape. By integrating Perkins & Co.'s expertise in serving privately held businesses and nonprofits, CLA can enhance its service delivery and client base in this area. This move also reflects a broader trend of consolidation in the accounting industry, where firms are seeking to expand their geographic reach and service capabilities through strategic acquisitions. For Perkins & Co., joining CLA provides access to a larger network and resources, potentially leading to enhanced service offerings and growth opportunities for its employees.
What's Next?
Following the acquisition, CLA and Perkins & Co. will focus on integrating their operations and aligning their service offerings to better serve clients in the Pacific Northwest. This integration process will likely involve combining resources, streamlining processes, and leveraging CLA's extensive network to enhance client service. Both firms have expressed a commitment to maintaining their local presence and client relationships while exploring new growth opportunities. As the accounting industry continues to evolve, further acquisitions and partnerships may be anticipated as firms seek to adapt to changing market demands and expand their influence.
