Bean Counter Buyout

Ervin & Co. CPAs P.A. of Fayetteville is buying out the cross-town accounting firm of Miller & Schroeder CPAs Ltd. for about $450,000. The deal, described by company owner John B. Ervin as a merger, is expected to make Ervin & Co. the largest single owner CPA firm in the state.

It’s also a boon to Ervin & Co. that Miller & Schroeder’s five accountants will bring with them at least one luxury Ervin hasn’t had before — an in-house attorney. Ramona Stein will add legal muscle the firm’s already significant repertoire.

Ervin said the deal will make the company more vertically integrated since Miller & Schroeder bring expertise in tax and estate planning while his current staff of 25 accountants primarily services construction contractors and non-profit companies. Ervin & Co. also does payroll outsourcing for about 30 companies.

Ervin said his firm expects to reach revenues of $2 million by 2001.