National firm purchasing Appleton-based Schenck

Posted on Dec 4, 2018 :: Insight on Business, Web Exclusive.
Posted by of Insight Publications

Appleton-based Schenck S.C., one of Wisconsin’s largest accounting and consulting firms, is being purchased by the national firm CliftonLarsonAllen LLP or CLA.

Schenck has more than 600 employees across Wisconsin and will officially join Minneapolis-based CLA, on Jan. 1. CLA is currently the nation’s eighth largest certified public accounting firm. Terms of the deal were not disclosed.

With the purchase, CLA projects revenue of $1 billion. Prior to the deal, Schenck generated $90 million in revenue in Wisconsin.

Once combined with Schenck, CLA will have 18 offices in the state (Schenck operates currently 10 of the those) and employ more than 1,000 people. Schenck and CLA have three overlapping office locations in Sheboygan, Oshkosh and Milwaukee. Company officials said those will possibly be consolidated.

As part of the deal, current Schenck President Dan Young will become chief practice officer of CLA’s Wisconsin region. CLA has seven regions across the country. The move to CLA enables Schenck employees to have more opportunities to obtain leadership roles across the nation while also giving their associates more resources to serve clients, he said in a statement.

“With our similar client service philosophies and cultures, joining CLA is a natural fit,” hes said. “For our clients, we’ll bring greater and more diversified services. In addition, we’ll create exciting growth opportunities for our team. We anticipate a seamless integration for both clients and team members, and look forward to beginning this new journey.”