Amos acquired by subsidiary of H&R Block

Firm plans `no changes' after purchase by HRB

Accounting

April 22, 1999|By M. William Salganik | M. William Salganik,SUN STAFF

C. W. Amos & Co. LLC, an accounting and consulting firm based in Baltimore, has joined the trend to consolidation in the field, announcing yesterday that it has been acquired by a subsidiary of H&R Block Inc.

Amos does not plan to change its name or operations, said John I. Wilson, managing member, after the acquisition by HRB Business Services Inc.

"It will be the same people up and down the line," Wilson said. "There will be no change in our offices." The Amos operations will not be related to the H&R Block tax preparation offices.

Terms of the transaction were not disclosed.

Amos has 86 employees at its headquarters in Baltimore and 27 at an office in Bethesda. It also operates Turner Pension Consulting in Annapolis, with 22 employees, which also has been acquired by HRB Business Services.

Amos was founded as a one-man accounting firm by C. Willard Amos in 1921. It is the sixth regional accounting firm snapped up by HRB since it was launched last year. The others are in Kansas City, Chicago, Indianapolis, Dallas and Buffalo, N.Y.

"We continue to look for regional accounting firms like C. W. Amos with a solid reputation, strong management, and the skills to complement our national accounting practice," said Frank L. Salizzoni, president and chief executive officer of H&R Block Inc. "Our goal is to be a major competitor in the accounting firm industry."

Wilson said, "We had talked to other suitors and done a lot of soul-searching on remaining independent."

In the end, he said, the partners decided the HRB affiliation "gives us the stability of having a new investor that can give us capital to expand and to offer new services to our customers."

Wilson said Amos itself will now be seeking to acquire firms in the Baltimore-Washington area.

Pub Date: 4/22/99

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.