Greeley CPA firm buys Loveland counterpart

GREELEY and LOVELAND — Greeley accounting firm Yeater & Associates Inc. has purchased Loveland CPA firm Alexander, Broughton & Co. PC. Yeater, operated by Lindsay Yeater and a staff of about 10 certified public accountants and others, will close the Loveland office and transfer the accounts to the Greeley office at 1140 38th Ave.

The transaction closed Sept. 30, Yeater said. Financial details of the transaction were not disclosed. 

It will facilitate the retirement of partners Mike Alexander and Becky McQueen. Rod Broughton retired in December 2020 due to health concerns.

SPONSORED CONTENT

The many benefits of simple, coordinated healthcare

Kaiser Permanente combines health care and coverage in one connected system to maximize employee health and minimize employer costs.

“We decided it was time,” said Alexander, who is 73 years old. He said they want to be able to spend more time with family and travel.

Still, Alexander and McQueen will continue working for at least a year, during which they’ll transition clients to the new firm.

“Our biggest concern was our clients,” Alexander said, who estimated that about 300 clients are potentially part of the deal if they move to the new firm.

Yeater, who opened her practice in 2015 after being in public accounting since 2007, said she responded to an unsolicited letter that was sent to multiple CPA firms in the area when the Loveland firm had decided to close the practice. “I thought, ‘why not?’ I’ll take a shot.”

The match was good. Alexander said the Yeater firm operates in a similar manner to the one he is closing, and he is comfortable that clients will be treated well. 

Yeater said she did not buy the Alexander, Broughton real estate along Cleveland Avenue in Loveland; Alexander said the property is for sale.

She said the Yeater firm is a “full-service public accounting firm” that handles basic accounting, audits, financial reviews, corporate and personal accounts, nonprofit clients and for-profit. It handles basic bookkeeping and payroll for some clients, she said.

She said increased staffing will depend on growth of the firm. With Alexander and McQueen agreeing to continue working for the next year, additional staffing may not be needed in the short term.

© 2021 BizWest Media LLC