Top 200 accounting firm Mowery & Schoenfeld has merged with Hochfelder & Weber, a CPA firm with a 91-year history in Chicago.
Financial terms of the deal weren’t disclosed. The combined firm will continue as Mowery & Schoenfeld, with Robert Olson, managing partner of Hochfelder & Weber, becoming a partner at Lincolnshire, IL-based Mowery & Schoenfeld.
Mowery & Schoenfeld will transition its Chicago office from 311 S. Wacker to Hochfelder & Weber’s current location at 525 W. Monroe St., which the firms say will provide an even more centralized and accessible location for clients.
“We are thrilled to welcome the talented team at Hochfelder & Weber into the Mowery & Schoenfeld family,” Jeffery Mowery, managing partner and co-founder of Mowery & Schoenfeld, said in a statement. “This acquisition marks a significant milestone in our growth strategy and underscores our commitment to delivering unparalleled service to our clients.”
Founded in 1933, Hochfelder & Weber provides services in the areas of financial reporting, tax, and consulting to assist clients meet both their current operational needs and long-range strategic goals. The accounting firm has built a reputation working with high-net-worth individuals and families, family offices, and private companies.
In addition, Hochfelder & Weber brings specializations in manufacturing and distribution, professional service firms, advertising and radio broadcasting enterprises, and not-for-profit organizations—industries where Mowery & Schoenfeld said it’s eager to continue growing both their expertise and presence.
“We are proud to join a firm that shares our values of excellence and client-focused service,” Olson said. “When Jeff [Mowery] and I first started talking, we noticed not only do we hold similar cultural values, but our clients are incredibly similar. This collaboration will undoubtedly strengthen our ability to give our firm’s clients more resources and contribute to the continued success of both firms.”
Art Kuesel of Kuesel Consulting consulted with both firms on the transaction.
Made up of 20 partners and more than 170 total employees, Mowery & Schoenfeld ranks among the top 10 firms in Illinois, with offices in Lincolnshire and Chicago, as well as satellite offices in Miami and the Philippines.
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