Accountants + Business Advisors

Apple Growth Partners Announces Second Acquisition in Six Months


Apple Growth Partners Announces Second Acquisition in Six Months

Public Accounting Firm takes Healthy Growth Tagline Seriously

Northeast Ohio –(June 6, 2017) – Apple Growth Partners (AGP) is pleased to announce its acquisition of Schlabig & Associates, Ltd. (Schlabig) effective July 1, 2017, AGP’s second acquisition in six months.

Schlabig, with offices in Kent and Akron, has served businesses and individuals in the Northeast Ohio region for more than 55 years. With a brand “Advising clients how to keep more of what they earn, with no surprises,” Schlabig’s culture of a client-focused approach melds perfectly with AGP’s mission to provide services and creative solutions that deliver healthy, sustainable growth for its clients.

Client-Focused Approach

With a collective 130 years of experience, AGP and Schlabig have focused on serving privately-held companies and their owners, mainly in the manufacturing & distributing, construction, real estate & affordable housing, auto dealer, and professional service industries.

“In 2013, Schlabig created a five-year vision for growth. This acquisition is that strategic plan coming to fruition,” said Bob Fisher, partner at Schlabig. “Both firms are client-focused, low-profile and passionate about remaining locally owned in Northeast Ohio.” Fisher will join AGP as a shareholder and member of its executive committee.

Details of the Deal

All Schlabig staff will join the combined firm, which will operate as Apple Growth Partners. The acquisition will cause AGP’s staff to top 100 and increase overall revenue to $17 million. Schlabig’s Akron office will merge with AGP’s location on West Market Street while adding the Kent office as a fourth location.

“Our people are excited about this acquisition. They see the firm growing, expanding to new markets and they see opportunity for personal career growth,” said Chuck Mullen, AGP chairman.

Expanded Services to Clients

AGP has a robust succession planning service utilized by a multitude of businesses in the process of transitioning leadership in the region. Schlabig Managing Partner Tom Hager is known as “Mr. Social Security,” and his expertise in Social Security and retirement planning will add depth to AGP’s succession planning services.

Growth into Portage County

Schlabig’s great reputation in Northeast Ohio played a prominent role in the AGP acquisition. The move allows AGP to expand its growing presence into new areas, primarily Portage and Southern Geauga counties.

“Talent attraction and retention is a pain point for employers in our region, and having offices in the communities of some of our top universities allows for deeper ties,” Mullen said. “Kent State University is one of several schools where we recruit. Being in Kent will allow us to work closer with the University and its students.”

The acquisition brings AGP one step closer to achieving its aggressive 2020 vision to double the size of the firm. Mullen notes the firm is ahead of schedule to meet the goals established in this vision.