Cleveland-based top 15 accounting firm CBIZ acquired Erickson, Brown & Kloster, a full-service tax, accounting, and business consulting firm located in Colorado Springs, on Feb. 1.
Financial terms of the deal weren’t disclosed. Concurrent with this transaction, Mayer Hoffman McCann (MHM), the auditing arm of CBIZ, gained the attest assets of EBK.
“We’re excited to combine our current successful Denver operations with EBK to create an even stronger team to serve clients across Colorado Springs, Denver, and all of Colorado,” CBIZ President and CEO Jerry Grisko said in a statement. “These two highly respected teams will work closely together for maximum benefit for both our clients and our team members. We are pleased to welcome Phil Erickson, Jeff Rosacker, and the entire EBK team to CBIZ.”
Founded in 1984, EBK provides tax and accounting services to a diverse mix of businesses, including automotive, wholesale, medical services, real estate, manufacturing, and nonprofit. EBK has 50 employees and recorded approximately $8.9 million in revenue over the past year. During its most recent fiscal year, CBIZ and MHM had combined revenue of $1.24 billion.
“Our firm has always looked for ways we can provide greater value to our clients and purpose-filled careers for our team members. Joining CBIZ is incredibly exciting because this allows us to meet both objectives,” said Phil Erickson, co-managing partner of EBK. “Our team of dedicated professionals now have immediate access to enhanced tools, resources and expertise that would have taken decades of time and countless dollars for us to develop on our own. We look forward to working with CBIZ to better serve the community our firm has supported for multiple generations.”
CBIZ’s last major transaction came a year ago when it acquired Indianapolis-based Somerset CPAs and Advisors.