Four buy BDO office
By Furniture Today Staff -- Furniture Today, December 31, 2006
High Point — Four senior managers of accounting firm BDO Seidman's office here, which has a number of furniture and textile industry clients, have acquired the practice.
The new firm, called Smith Leonard PLLC, is owned by Ken Smith, Darlene Leonard, Jon Glazman and Mark Bulmer.
It is a member of the BDO Seidman Alliance, a nationwide association of more than 200 independent accounting and consulting firms that share resources to serve clients with national or global needs.
Smith, the managing partner, said the alliance gives the local firm "access to the technical knowledge and specialty services of an international network that we know very well."
He said the new owners have met with clients and the office's 26-member staff to assure a smooth transition.
"In reality, it will be business as usual," Smith said. "We are remaining in our current location, retaining our people and maintaining a strategic connection to BDO Seidman. We have received positive and enthusiastic support from all our clients."
Smith said BDO Seidman decided to sell the High Point-Greensboro branch as part of a move to concentrate its resources in metropolitan areas. Smith Leonard serves clients in North Carolina and southern Virginia.
"Our local practice does have an array of large clients, but the size of our market tends to generate a more impressive list of medium-sized and small clients," he said.
The four partners have more than 100 years of combined experience.
Smith joined BDO Seidman in 1969 after graduating from High Point University. He became a partner in 1980 and managing partner of the combined High Point and Greensboro, N.C., practices in 1991. He has extensive experience with manufacturers, distributors and retailers, and has authored the firm's monthly newsletter, Furniture Insights, known for its surveys, statistics and forecasts.
He said the newsletter is on hold for now, but the firm will continue to generate its monthly statistics, including its operating survey of furniture factories.
Leonard has worked in accounting for 20 years and at BDO since 1997, specializing in companies in retail, transportation, manufacturing and distribution.
Glazman has been in accounting more than 30 years and joined the BDO office in 1988 as partner in charge of the tax department. He has served companies primarily in manufacturing and distribution as a tax consultant to business owners.
Bulmer has worked in private industry and began his public accounting career in 1986 with a Big Four firm, joining BDO in 1993. He has a background in textile and furniture manufacturing and specializes in tax issues, overseeing a practice serving companies that outsource their tax needs.
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