Kernutt Stokes, LLP, a Eugene, Ore.-based accounting and business consulting firm, is expanding its business in the state. Spectrum CPA Group LLP with offices in Corvallis, Lake Oswego and Bend, Ore., has joined Kernutt Stokes, effective December 1. Spectrum partners Shelly Sorem and Ron Boyd will continue to serve clients as partners of Kernutt Stokes, bringing many years of experience and expertise. Spectrum’s staff of 19 has joined the Kernutt Stokes team which now totals 89 employees, 65 of whom are Certified Public Accountants, in four Oregon locations.
“We were considering a new ownership model to increase our ability to serve clients and provide new opportunities to our staff, but not just with any firm,” says Sorem. “We wanted to join a firm that shares our core values and provides a high level of service to clients. We found that in Kernutt Stokes.”
The addition of Spectrum CPA Group not only increases Kernutt Stokes’ client base and market reach, but also increases its revenue by an estimated 25% to 30% annually.
“The integration of these two firms is a unique opportunity for strategic growth in Oregon markets,” says Steven Ritchie, managing partner at Kernutt Stokes. “Spectrum has developed strong client relationships with privately-held companies in a variety of industries including agriculture, fishing, and construction. That experience aligns well with Kernutt Stokes’ expertise serving clients in industries including manufacturing, real estate, insurance, transportation, forest products, and professional services.”
While Kernutt Stokes is rooted in Eugene, the firm has an increasing number of clients located outside of the Eugene metro area. “By combining the best of both firms, we will continue to serve existing Kernutt Stokes and Spectrum clients throughout the state, serve new clients, and provide additional growth opportunities for our integrated team of employees,” says Ritchie.