McGladrey & Pullen, LLP signs letter of intent to acquire RSM McGladrey, Inc.
BLOOMINGTON, MN – (August 23, 2011) – McGladrey & Pullen, LLP, a licensed partner-owned CPA firm providing assurance services under the McGladrey brand, announced today that it has signed a letter of intent to acquire RSM McGladrey, Inc. including its employees, assets and infrastructure.
"The Board's objective is to reunite the assurance, tax and consulting practices under an integrated McGladrey & Pullen partnership structure," said Jerry Bourassa, Chairman of McGladrey & Pullen's Board of Directors. "The anticipated transaction will not impact the quality and timeliness of services to our clients. Our partners and employees remain focused on meeting and exceeding client expectations."
Since 1999, McGladrey & Pullen has operated under an alternative practice structure with RSM McGladrey, through which McGladrey & Pullen provided clients with public accounting services, and RSM McGladrey provided non-public accounting services, including most tax and consulting services.
"This is all about what we believe to be in the best interests of our clients, our employees and our partners. We see great opportunities for success and growth for McGladrey & Pullen as a firm reunited in a traditional partnership structure," said Joe Adams, Managing Partner of McGladrey & Pullen. "Our relationship with H&R Block has served us very well but we both agree that it is time to move on."
The final closing of the transaction is anticipated in the fall of 2011.
About McGladrey & Pullen, LLP and RSM McGladrey, Inc.
- Banking/Financial Institutions
- Consumer Products
- Financial Services
- Food and Beverage
- Government Contracting
- Government Entities
- Health Care
- Life Sciences
- Manufacturing and Distribution
- Private Clubs
- Private Equity
- Real Estate
- Specialized Industries