CliftonLarsonAllen, a Top 10 Firm, has expanded in Nashville by adding Price CPAs, effective June 20.
Price CPAs has annual revenue of $4.7 million, and will bring a total of 20 people, including two partners, to the firm. CLA’s annual revenue is $1.6 billion, and its staff has over 7,500 total people, including more than 1,100 principals and signing directors. Financial terms of the deal were not disclosed. CLA ranked No. 8 on Accounting Today‘s 2022 list of the Top 100 Firms.
Price CPAs dates back to 1953. “Great professional service starts with solid relationships,” said Price CPAs managing partner Tom Price in a statement Friday. “And we’ve found a solid relationship with CLA — one that provides the seamless continuation of our personalized approach to excellent client service, alongside a multiplied team of professionals aligned to the same values.”
The addition of Price CPAs will bolster CLA’s presence in Nashville and service across Middle Tennessee. Former Price CPAs employees will continue to serve clients locally and nationally from their existing Nashville office, increasing CLA’s presence in the city to more than 50 people.
“The Price CPAs team is a great fit with CLA,” said CLA chief geographic officer Scott Engelbrecht in a statement. “When we collaborate around opportunities, we can deliver services in a way that is truly among the best. That is what I believe we are achieving in Nashville and the surrounding communities.”
“Welcoming the Price CPAs team is part of our continued commitment to bring our firm promise to the marketplace and make a positive impact on the community,” said Mike Slavik, firmwide expansion leader and managing principal of CLA’s Nashville office, in a statement. “Together we serve clients ranging from small entrepreneurial organizations to the largest public company in the country. It’s energizing to bring this expansion to life. Thank you to Allan Koltin of Koltin Consulting Group who advised us on the combination and helped make this match a reality.”
CLA has a history of frequently doing merger deals, but none have been publicly announced since late December 2020, when the firm acquired Blumshapiro, a Top 100 Firm based in Connecticut. CLA completed a number of other mergers in 2020, with a heavy focus on the West Coast. Earlier in December 2020, it merged in Atkinson & Co. in New Mexico; in October, CLA announced a merger with White Nelson Diehl Evans in Southern California; in February, it expanded in the region by merging in Weil & Company in Los Angeles. At the beginning of 2020, CLA grew in Florida by adding McHale, Caruso, Sculllion & Knoxa firm based in Fort Myers.