Clifton Gunderson, LarsonAllen merging to form Top 10 firm

Milwaukee-based Clifton Gunderson, with offices in Cedar Rapids and Des Moines, plans to merge with LarsonAllen of Minneapolis to form one of the 10 largest certified public accounting and consulting firms in the nation.

The partners of both firms have agreed to the combination. Pending final approvals, the merger will take effect Jan. 2 and the new firm will be named CliftonLarsonAllen.

The new privately held firm will have more than $550 million in combined revenue, employ more than 3,600 professionals, including more than 500 partners, and will operate from 25 states and Washington, D.C.  

Kris McMasters, chief executive officer of Clifton Gunderson, said the CliftonLarsonAllen will pioneer a new trend by focusing primarily on private companies and their owners.

"The firm will be positioned as the go-to source of information, knowledge and unique offerings for owners and leaders looking for assistance in achieving their personal and business dreams and objectives," McMasters said in a statement announcing the proposed merger.

Gordy Viere, CEO of LarsonAllen, said industry specialization has been at the core of both firms' practices.

"Coming together heightens our capacity to develop that vital focus and extend it beyond our accounting and advisory services to our wealth management and outsourcing capabilities," Viere said. "This cohesive trio of industry-focused guidance is uncommon for private businesses and public sector organizations."

CliftonLarsonAllen will have a holding company and three entities: CLA LLP, CLA Wealth Advisory and CLA Outsourcing - all integrated in their capabilities and delivery of services. Viere will oversee the CLA holding company, the wealth advisory practice and the outsourcing practice, and McMasters will oversee CLA LLP, the public accounting practice.

Founded in 1960, Clifton Gunderson has a staff of more than 1,800 professionals serving clients from 47 offices across the country.

LarsonAllen, formed in 1953, has about 1,800 people operating from 40 offices located in Arizona, Florida, Idaho, Illinois, Massachusetts, Minnesota, Missouri, North Carolina, Pennsylvania, Texas, Washington, Washington, D.C., and Wisconsin.