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April 30, 2008

Crowe plans further growth through flagged Florida merger

Crowe plans further growth through flagged Florida merger

Crowe Chizek and Company has announced that it intends to combine practices with Carter, Belcourt & Atkinson, a Floridian firm with offices in Lakeland and Tampa.

The two US firms have signed a non-binding letter of intent to combine practices. Discussions are taking place with plans calling for a combination agreement to be signed in the coming months.

Crowe Chizek said that Carter, Belcourt & Atkinson is one of central Florida’s largest locally owned certified public accounting and consulting firms. It has 79 associates and expertise in sectors such as professional services, not-for-profit, agriculture, and hospitality and recreation. The firm is a member of the PKF North American Network.

Nationally, Crowe Chizek has a total staff of more than 2,300 professionals working across 22 offices. It most recently reported fee income of $423 million. The group is a member of Horwath International.

The proposed deal is the latest in a series of moves the firm has undertaken recently to increase its size. In July, Crowe Chizek announced that it had completed its planned merger with New Jersey-based risk management consulting company Enterprise Financial Consulting. Last month it opened a new office in Atlanta and elected 17 new partners and five new directors to the firm.

Crowe Chizek said that the transaction to bring Carter, Belcourt & Atkinson into the fold is subject to further due diligence, execution of a combination agreement and satisfaction of customary closing conditions.

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