By THOM SENZEE Contributing Reporter Top 10 accounting firm, Crowe Horwath, LLP, headquartered in Oak Brook, Ill, is joining forces with local cousin Grobstein, Horwath. The details of the transaction are being kept close to the vest with both entities citing legal reasons for not using words like merger and acquisition. “We are happy to discuss more details after the closing date on December first,” said Michael Grobstein managing partner in the Sherman Oaks office of Grobstein, Horwath & Company LLP. The firm has been offering professional accounting services in Southern California since 1966 and was recently named one of the San Fernando Valley’s best places to work by the Business Journal. Both companies are part of a global consortium of accounting firms known as Horwath International. It’s the second time in just a few months that an out-of-town firm has teamed up with a major local accountancy. In June, New Jersey-based giant J.H. Cohn merged with Good Swartz Brown and Berns. There are no plans for layoffs, said a spokesperson for the firm, as a result of the transaction. Grobstein, Horwath employs more than 120 people in Southern California. “We are excited about bringing the Grobstein professionals onto our team as another step towards executing our vision of becoming a national firm, recognized globally,” said Chuck Allen, Crowe’s chief executive officer. Allen believes the merger will be a boon to clients, enhance its position as an employer and aid in recruitment of high-in-demand CPAs and other professionals, “With this transaction, Crowe will be better able to locally serve the needs of our West Coast clients and clients with Asian operations,” he said. Michael Grobstein sees opportunities as well. “For Grobstein, it means we will have much greater capabilities to serve our clients. Moreover, it means great opportunities for all our people at all levels.”
