Salina’s Kennedy and Coe to merge with California accounting firm
06/11/2014 5:38 PM
06/11/2014 5:38 PM
Accounting and consulting firm Kennedy and Coe said it will merge with a California firm in a deal expected to close in January.
The Salina-based firm, which has a large operation in Wichita, said Wednesday that it will merge with Matson and Isom, based in Chico, Calif.
Kennedy and Coe CEO Jeff Wald will be the chief executive of the merged firm, which will operate under a different name.
Financial terms of the deal were not disclosed.
Michelle Golden, Kennedy and Coe growth leader, said Wednesday afternoon that all of the merger details will be worked out in the coming months, including the new name of the merged firm.
She said Kennedy and Coe has 250 employees and annual revenue of $36 million. It has 11 offices in four states and the District of Columbia.
Matson and Isom has 125 employees and about $18 million in annual revenue.
Golden said Kennedy and Coe’s Wichita office, 1605 N. Waterfront, will not be negatively affected by the merger.
Wichita and Salina are Kennedy and Coe’s largest offices, she said.
The merger is attractive to Kennedy and Coe because of Matson and Isom’s expertise and business in the food and agriculture industries, Golden said. The firm also has expertise in health care, which is a practice area for Kennedy and Coe.
“They’re bringing some really important things to the table, and we’re really excited about that,” Golden said.
Food and agriculture has been a growth area for Kennedy and Coe, which in the past year and a half has made a deep push into the agriculture and food production sectors. Last year it acquired Vela Environmental, an environmental consulting firm, and AgKnowledge, a Mississippi-based farm financial management company. It also opened an office in November in Lenexa because Kansas City is a regional trade center for agriculture and food production, Kennedy and Coe officials said.