Last updated on July 2nd, 2019 at 09:19 am
Bristol has about $850,000 in revenue, and Sitzberger & Co. paid about $250,000 for the company, plus a cash flow payout, said Fred Sitzberger, CPA, CVA, founder and chief executive officer of Sitzberger & Co. Bristol had seven employees, six of whom are joining Sitzberger. They will continue to work out of the Glendale office. Seller Don Bristol will join Sitzberger & Co. as a principal.
“We’re going to keep that office open and we’re going to invest in that side of town,” he said. “I know a lot of CPAs over there and they would join us if we had an office over there.”
Sitzberger & Co. now has 61 employees, 27 of whom are certified public accountants. The CEO plans to continue growing strategically in order to bring on new talent and clients.
“Anybody that can fog a mirror we want to buy,” Sitzberger said. “What we do is we just go through the list and we target everybody. If one comes up, we have the financial resources. We’ve puchased 15 in the last 15 years or so, so we know how to do it.”
Sitzberger has made several acquisitions in recent years, including Brookfield-based Gillis & Co. LLC in 2016 and Greenfield-based Athena Accounting & Tax LLC in November. The company moved into a new headquarters in December to accommodate its growth.
“We’re excited to bring Don Bristol and his team on board and to expand our presence to Milwaukee’s north shore,” Sitzberger said. “Don’s been in practice for decades, so we welcome his experience and are excited to provide him support during this upcoming busy season and beyond. His work deciphering how the new tax law affects businesses and individuals is exceptional.”