Accretive Solutions Acquires CFO Services of Florida

Business Wire, Oct 19, 2005

HAUPPAUGE, N.Y. -- Accretive Solutions is pleased to announce the acquisition of CFO Services, based in Jacksonville and Fort Lauderdale, Florida. Founded in 1994 by Pete Lafser, CFO Services is Florida's premiere consulting firm specializing in providing high quality, accounting, finance and internal audit consultants for critical projects such as: Sarbanes Oxley compliance, acquisition due diligence, system conversions, report writing and large scale reorganizations of accounting and/or finance departments. Pete Lafser will continue to lead the practice as the firm expands their service offerings to include additional Enterprise Governance and Business and Technology Consulting Services, specialty practices offered by Accretive Solution's Horn Murdock Cole division. CFO Services will also further grow its Executive Search services as offered by Accretive's Dickson Allan division.

Commenting on the acquisition, Joseph V. Amella, President and CEO of Accretive Solutions stated, "CFO Services commitment to superior customer service and their growth-oriented mindset reflect an organization whose culture mirrored our own, making them an ideal acquisition candidate. We're pleased to expand Accretive Solutions' geographic footprint to include these key Florida markets where we are committed to strengthening our position as a recognized leader in our field."

"Joining forces with Accretive Solutions allows us to maintain a local focus while having the support of a national firm, enabling us to broaden and enhance our service capabilities," commented Pete Lafser. Mike Tanner, Partner in Charge of Internal Audit at CFO Services added, "The synergies between our business model and that of Accretive make us a natural fit. Accretive's broader services, such as their Enterprise Governance practice and Business Technology arm, immediately enable us to offer additional solutions to meet our clients' diverse needs."

Accretive Solutions is the leading, privately-owned, professional services resource in the nation specializing in accounting, finance and information technology. The company has representation in New York, Texas, Michigan, California, Florida, Georgia, Minnesota and Metro Washington, D.C.