Clayton & McKervey’s recent growth has a bit of a foreign flavor to it.
The Southfield-based accounting and business advisory firm has grown its revenue by about 5 percent over the last year and is on target to do it again in 2014. That has allowed it to hire 10 people over the last year, including accountants, tax experts, and support staff. The firm currently employs 60 people.
Fueling that growth is rising demand for bigger companies to buy smaller ones.
“A lot more companies are looking at mergers and acquisitions these days,” says Kevin McKervey, president of Clayton & McKervey. “A lot of clients are buying companies.”
In many case those companies are foreign-owned corporations looking to establish a foothold in the North American market. Often the easier way to do that is to buy a locally-owned company in its space and turn it into the U.S. subsidiary for the multi-national corporation.
“There is a big interest in foreign companies establishing a presence in the U.S.,” McKervey says.
Source: Kevin McKervey, president of Clayton & McKervey
Writer: Jon Zemke
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