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Lessard-Nyren Utilities
“Working with Wipfli was the best accounting decision we ever made. The next best decision was to have Wipfli consultants evaluate our office procedures. Their recommendations covered everything from human resource to an elaborate job-tracking computer system. Without them, we would not be where we are today.”

--Rick Lessard
Lessard-Nyren Utilities

 

The Challenge

With a booming economy and a reputation for great service, Lessard-Nyren Utilities’ revenue growth was moving at the same speed of the cable it was installing across Minnesota. As the company grew, it needed to dig deeper into its business operations and build an infrastructure to support its rapid growth.

The Strategy

Lessard-Nyren Utilities contacted Wipfli for assistance with tax and financial statement preparation. Wipfli addressed not only the construction firm’s tax needs, but also its need for blueprints that would ensure the company’s future. Wipfli professionals determined it was important that the company keep up with technology, retain quality employees, and effectively manage its growth. 

  • Provided support for company’s internal systems
  • Designed and implemented information technology systems
  • Solved multi-state tax issues
  • Determined appropriate levels of salaries and benefits for owners and employees
  • Formed retirement plans for owners and employees

The Results

Wipfli assisted Lessard-Nyren Utilities not only with corporate and individual tax planning, but also with value-added consulting to help the company grow from $2 million to $35 million in revenues. When Lessard-Nyren Utilities merged with MasTec, the largest North American provider of bandwidth infrastructure, Wipfli managed the business valuation and the transfer in ownership tax consultations. The successful merger meant that the owners’ blueprints were finally complete.