Accounting News

Thursday, August 23, 2012
Accounting Firms Merge in Cleveland

Gerald M. Appeal CPA, of Cleveland, Ohio, has agreed to merge with Skoda Minotti, of Cleveland Ohio. They will join the tax planning and preparation department at Skoda Minotti to boost their tax business. Skoda Minotti had a revenue of $20.3 million last ear while Appel had revenues of under $1 million. Financial terms of the deal were not reached. Three of the five member will join the Skoda Minotti staff.

Skoda Minotti has acquired several firms this year including Core Information Management, Quantam Network Services, and PBnJ Solutions. They are also part of the BDO Seidman Alliance. Along with accounting and tax preparation they offer IT services from their Cleveland and Akron offices.

The acquisition market for accounting firms looks to be heating up as we head into the fall. There are also larger firms that have been getting together via mergers and acquisitions.

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