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Two Ashland CPA firms to merge
Two accounting firms that have provided services for medium-sized businesses in Kentucky and other states plan on merging their practice effective on July 1. Both are CPA firms that have been in business for a number of decades.
The hope is to provide clients with a greater range of financial and business consulting type services. "Since both firms have significant strengths in differing service areas, it just makes good business sense to combine the firms to meet new financial and business challenges facing their client bases," stated the managing director for one of the firms.
It is felt that the combining of the two firms will allow for these businesses to better compete and also expand at a faster rate. It is claimed that such a merger will also be of benefit to employees as a wider range of career opportunities will be made available. The owners of the two firms hope to accomplish the merger without in any way disrupting day-to-day operations. Offices are to continually be maintained in different locations.
No executive enters into a merger deal with the thought that such a venture may fail. Businesses will thus require the services of able counsel when it comes to the merger process as completion of a merger can prove to be legally complex. Attorneys will be needed to provide required strategic planning when such a process is begun. Continued consultation will also be needed throughout the remainder of the process including the closing itself. Finally, attorneys can provide guidance to ensure such a merger is in compliance with local, state and federal laws.
Source: The Independent, "CPA firms to merge July 1," Tim Preston, Jan. 20, 2014
