CCR Names New Managing Partner
After a merger deal between the Westborough-based accounting firm of Carlin, Charron & Rosen and Chicago-based UHY LLP fell apart earlier this year, it's no wonder CCR might be a little gun shy about future mergers.
But despite that trepidation, the firm - and its newly elected managing partner - is still aggressively seeking growth.
Downstream
Partners at the firm have directed their new managing partner - relative newcomer David Platt - to focus the CCR's growth within New England, and avoid any mega-mergers like the ill-fated match up with UHY. But Platt, who has only held the title of managing partner for a few weeks, has a tough mission on his hands. The firm's recently approved strategic plan calls for a doubling of staff and top-line revenues in five years time.
"We are going to try to do that independently," Platt said. "If there is a merger, at this time it will be a downstream or a lateral merger... We don't see an upstream type consolidation." In other words, the firm's partners, who balked at the idea of being absorbed into the much larger national firm UHY, aren't courting any big firms to fuel growth and they'll only consider gobbling up smaller firms.
Although doubling an already large firm (the largest in Central Massachusetts) sounds daunting, Platt said he thinks CCR is "set up quite nicely" to achieve that goal, in part, through attracting strong talent.
"By attracting the best and the brightest, it's easier to attract good clients," he said.
"When I started with the firm we had about 12 people," recalled Robert Charron, who stepped down as managing partner of the firm at the conclusion of his three-year term at the end of October. Today, the firm has more than 240 employees and estimates are that the firm brings in about $30 million in revenues annually.
Although Charron is stepping down as managing partner he remains with the firm, where he's worked for 35 years.
"I'm still going to be working whatever time is required to service my clients list," Charron said. "At times that means I'll be working full-time, at other times that means I'll be working less than full-time. But I'll be thinking about the firm full-time."
Platt, Charron's successor, only joined CCR a year ago. He had previously been co-managing partner at Boston-based Tofias PC. He joined that firm when Tofias acquired Rooney, Plotkin & Willey of Rhode Island, where he had worked for 12 years.
Platt said it is his experience at Tofias that made him a strong candidate for the top job at CCR.
"Given where I came from, it was a natural fit for me to succeed Bob (Charron)," he said.
Platt said the firm is currently focused on attracting young talent to fill out CCR's ranks.
"Every firm, I think has the same issues and that's relative to human capital," Platt said. "Recruiting is a very difficult thing these days." Part of the challenge are the "requirements that professional associations are putting on becoming a CPA," he said.
Because of the competition for talent, Platt said CCR is focusing its recruiting efforts on college students at universities in the Worcester area.
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