CliftonLarsonAllen Acquires Segments of AgStar Financial Services
Mankato, Minnesota — July 2, 2012 — CliftonLarsonAllen (CLA) has announced the acquisition of the tax and accounting business segments of AgStar Financial Services, effective July 1, 2012.
“AgStar has earned a solid reputation with its clients through industry specialization, quality service and expertise,” says CliftonLarsonAllen Managing Partner Terry Enger. “We’ve had a strong presence and leadership position in the agribusiness community for many years. We are excited about expanding our resources and knowledge in this area, as well as the many growth opportunities this brings to our clients and future clients.”
AgStar is a Cooperative Farm Credit Association that provides accounting and tax services. Together, CLA and AgStar will incorporate tax planning, tax compliance, and a service bureau with all accounting services. AgStar clients will continue to receive the tax and accounting services they’ve come to expect, with the added benefit of a comprehensive team of specialists working behind the scenes to ensure their tax planning, tax preparation, and accounting needs are met.
“Coming together with AgStar will expand our industry specialization; we are particularly optimistic about the opportunities in agribusiness,” says Enger. “Together, our two organizations will be a powerhouse in this industry, delivering a new level of knowledge and insight, which means better things for clients and employees.”
Through this combination, 17 professionals, including partner Rod Mauszycki, will join CLA. Mauszycki has served as Director of Tax for AgStar since 2009 and brings a broad range of corporate, partnership, and individual tax matters including mergers and acquisitions, tax planning, succession/transition planning, tax return review, and federal and state controversies to his new role with CLA.
“This combination is a perfect fit for our clients, allowing us to bring more value to those using AgStar’s tax and accounting services,” says Wick Manley, Executive Vice President and Chief Relationship Management Officer of AgStar. “CliftonLarsonAllen has demonstrated its commitment to agriculture, our clients, and our team members. We are excited about the opportunities this union will mean for our clients.”
In addition to sharing similar missions, cultures, and client service relationship models, CLA and AgStar also closely align geographically. AgStar professionals will join CLA offices in south and central Minnesota and in northern Wisconsin.
“CliftonLarsonAllen’s client mix, firm culture, and values match up extremely well with ours – making this transition seamless and comfortable for our clients and team members,” says Manley.
AgStar Financial Services, ACA, headquartered in Mankato, Minnesota, employs more than 600 full-time team members. The company is part of the national Farm Credit System and has a public mission to serve 69 counties in Minnesota and northwest Wisconsin. AgStar’s industry specialization, client segments, and market delivery systems result in diversification nationwide. The company has expertise in the corn, soybean, swine, dairy, and bio-energy industries. AgStar has developed successful programs in loans, leases, crop insurance, tax services, accounting, consulting, and rural home mortgages. As a value-added financial services cooperative, AgStar allocates patronage dividends to its 14,000 stockholders. The company is also committed to giving back to rural residents, organizations, and communities through AgStar’s Fund for Rural America. Visit www.AgStar.com for more information.