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One Twin Cities Accounting Firm Acquires Another

One Twin Cities Accounting Firm Acquires Another

After acquiring a fellow Twin Cities-based firm, Boyum & Barenscheer now employs roughly 60 accounting professionals in Bloomington and White Bear Lake.

Bloomington-based Boyum & Barenscheer this week acquired fellow Twin Cities accounting firm Peterson, Peterson & Associates for an undisclosed sum.

Boyum & Barenscheer, which was founded in 1975, provides consulting, tax, and accounting services to privately held companies, individuals, and nonprofits. The firm, which was already one of Minnesota’s 25 largest accounting firms, now employs roughly 60 accounting professionals in Bloomington and White Bear Lake.

Founded in the late 1980s, Richfield-based Peterson, Peterson & Associates focuses on the real estate industry, including everything from construction firms to property management companies. It also provides tax and consulting services to clients in professional services industries.

“This acquisition will allow us to continue to expand and diversify our practice with a broader range of proactive and purposeful solutions to both our current clients and new clients,” Boyum & Barenscheer Managing Partner Thomas Margarit said in a statement.

Carl Peterson, managing partner of Peterson, Peterson & Associates, said that the acquisition gives his firm’s clients “access to greater resources and expanded service capabilities while still receiving exemplary personal service.”