Roch. accounting firm + Edina firm

Here's some from a piece I'll have in Thursday's newspaper:

A Rochester accounting firm – Smith, Schafer & Associates – extended its reach earlier this month by acquiring an Edina business.

On Aug. 1., Smith, Schafer & Associates added the certified public accounting firm of Graves, McKenna, Lundeen & Almquist. That adds up to an office of 14 accountants in Edina.

“It allows us to provide a better coverage area for our clients,” says Managing Shareholder Al Schafer. “And it was a good fit.”

The Graves office was founded in 1972 and it had been looking for a another firm to work with for some time, he said. It bills about $2 million in business a year.

Adding this piece to overall picture, Smith, Schafer now has three offices with 15 people in Edina, 15 in Maplewood and 40 to 50 at 220 S. Broadway in Rochester.

Bill Frudden and Steve Erchul are moving from the Rochester office to manage the Edina operation.
This acquisition fits Smith, Schafer’s strategy of adding small firms with expertise in small business, tax services and auditing for governmental entities as well as nonprofits.