BETHLEHEM, Pa. — Concannon Miller, a local finance company specializing in serving McDonald’s Corp. franchise owners, will become part of the eighth-largest accounting firm in the United States on Nov. 1.
CLA, also known as CliftonLarsonAllen, said in a statement that the two companies have agreed to a business combination. Terms of the transaction were not disclosed.
Concannon Miller is listed by Inside Public Accounting as the 191st in the nation based on an annual net income of $22.7 million. CLA’s net sales were $1.45 billion, more than 60 times that of Concannon Miller.
The two companies have similar philosophies, Concannon Miller president and chief operating officer Ted Witman said in the release.
“We take our clients’ needs to heart and are committed to understanding their business and their goals, both professional and personal,” Witman said. “CLA shares this promise, which is a key reason for our decision to join the firm.”
Concannon Miller was incorporated in 1962. Its head office is located at 1525 Valley Center Parkway in Hanover Township, Northampton County. It also has an office in St. Petersburg, Florida.
In addition to serving McDonald’s franchisees, Concannon Miller is a full-service tax, accounting and consulting firm serving manufacturers, distributors, small businesses, families and nonprofit groups, CLA said. in his press release.
When the combination is complete, CLA will have more than 330 employees in Pennsylvania and more than 450 in Florida. National CLA employment is approximately 7,500.
CLA was created in 2012 after the merger of two predecessor companies. The accounting firm is based in Minneapolis.
69 News contacted Concannon Miller and CLA.