Wipfli acquires another Chicago company

Accounting firm now has nine offices in market

The Wipfli headquarters in Wauwatosa.

Last updated on July 2nd, 2019 at 09:19 am

Wauwatosa-based accounting and consulting firm Wipfli LLP has acquired its fourth Chicago-area firm in the past 13 months, today completing a combination with Horwich Coleman Levin LLC.

The Wipfli headquarters in Wauwatosa.
The Wipfli headquarters in Wauwatosa.

Horwich Coleman Levin is based in downtown Chicago and offers audit, tax and advisory services. Founded in 2005, HCL is focused on assisting investment funds, and offers forensic accounting and litigation support, alternative dispute resolution and IT consulting services.

In the non-cash transaction, all 18 of HCL’s employees, five of whom are partners, will join Wipfli. They will continue operating out of the existing office, where the nameplate will be changed to Wipfli.

Allan Koltin, chief executive officer of Chicago-based Koltin Consulting Group, advised both companies in the transaction. The merger will expand the value-added services they can offer clients, he said.

Wipfli now has more than 1,800 employees, about 170 of whom are based in Wauwatosa. It has been increasing its presence in Chicagoland over the past few years, now with nine Chicago offices and a total of about 236 employees. In January, Wipfli acquired BIK & Co. LLP, which is based in Chicago suburb Palatine.

“Chicago is a key market for Wipfli, which has been demonstrated over the past 13 months as we have combined with several strong Chicago CPA and advisory firms, including HCL” said Rick Dreher, Wipfli’s managing partner. “We are very pleased that HCL, a highly respected firm in the Chicago market, has agreed to become part of the Wipfli family. The combination enhances our downtown Chicago presence and increases our capacity and ability to serve clients in Chicagoland and across Illinois. It also expands our capabilities in the hedge fund, litigation support and dispute resolution areas.”

“We are very excited to be bringing HCL’s highly experienced team and our commitment to exceptional client service to a national firm that holds similar values and ideals,” said Larry Horwich, managing partner of HCL. “We look forward to continuing to provide the same high-quality service our clients have experienced over our history, while gaining the ability to add Wipfli’s specialty services to provide enhanced value to our clients as they encounter the need for additional services. Through this combination, we will also be able to provide enhanced training and career opportunities to our valued employees, so this is very positive news from all vantage points.”

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Molly Dill, former BizTimes Milwaukee managing editor.

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