LarsonAllen Buys 64-Person Florida CPA Firm

A principal of the Minneapolis-based accounting firm said that the acquisition will expand its industry specialization within the southern state-and that the two firms together will make up one of Florida's largest government audit practices.

Minnesota's largest accounting firm has bought a 64-person Florida-based CPA firm-thereby expanding its reach in the central part of that state.

Minneapolis-based LarsonAllen, LLP, announced its purchase of NCT Group CPA's, LLP, late last month, and the acquisition will take effect on July 1. Terms of the deal were not disclosed.

NCT, which employs about 30 CPAs, was founded in 1959 and serves clients throughout Florida from three offices-located in Lakeland, Winter Haven, and Sebring.

LarsonAllen, meanwhile, has more than 700 CPAs and 300 principals, about 1,800 employees, and 40-plus locations across the country. The firm said that its annual revenues total more than $280 million.

Both LarsonAllen and NCT primarily serve small to mid-sized privately held businesses, government entities, and community-based nonprofits.

“Coming together with the NCT Group will expand our industry specialization in Florida,” Denny Schleper, executive principal with LarsonAllen, said in a statement. “We are particularly optimistic about the opportunities in the governmental sector. Together, our two firms will make up one of the largest government audit practices in the state.”

LarsonAllen-founded in 1953-is a professional service firm that provides audit, accounting, tax, consulting, and advisory services to organizations and individuals managing business ventures and finance.

It is Minnesota's largest accounting firm based on CPAs within the state, of whom there were 357 as of June 2010.