McGladrey Pullen Signs Binding Agreement and Plan of Merger with H R Block to Acquire RSM McGladrey
BLOOMINGTON, MN – McGladrey & Pullen, LLP, a licensed partner-owned CPA firm providing assurance services under the McGladrey brand, announced today that it has signed a binding agreement and plan of merger with H&R Block, Inc. to acquire RSM McGladrey, Inc.
Since 1999, McGladrey & Pullen has operated under an alternative practice structure with RSM McGladrey, through which McGladrey & Pullen provides clients with public accounting services, and RSM McGladrey provides non-public accounting services, including tax and consulting services.
"Signing this merger agreement represents a significant milestone toward reuniting the assurance, tax and consulting practices under an integrated McGladrey & Pullen partnership structure," said Jerry Bourassa, Chairman of McGladrey & Pullen's Board of Directors.
"We have worked closely with H&R Block since signing the letter of intent in August to make this a reality for our clients, our employees and our partners," added Joe Adams, Managing Partner for McGladrey & Pullen. "We are excited about the progress to date, and look forward to continuing to provide exceptional service to our clients, while providing growth opportunities for our employees and partners."
McGladrey & Pullen was advised by Jefferies & Company, Inc., and Sidley Austin LLP.
About McGladrey & Pullen, LLP and RSM McGladrey, Inc.
McGladrey & Pullen, LLP, is a licensed partner-owned CPA firm that provides audit and attest services. McGladrey & Pullen operates in an alternative practice structure with RSM McGladrey, a leading professional services firm providing tax and consulting services. Though separate and independent legal entities, they work together under the McGladrey brand to serve clients' business needs. Combined, the firms rank as the fifth largest U.S. provider of assurance, tax and consulting services with 7,000 employees in more than 80 offices nationwide. McGladrey & Pullen, LLP and RSM McGladrey, Inc. are each member firms of RSM International, a global affiliation of independent audit, tax and consulting firms.