04 September 2014
Baker Tilly International member firms Baker Tilly Virchow Krause, LLP (Baker Tilly) and ParenteBeard LLC have announced they will merge with an anticipated effective date of 1 October 2014. The combined firm will trade as Baker Tilly with the formal name of Baker Tilly Virchow Krause, LLP.
The combined firm will employ more than 2,500 professionals across 29 cities in the US, with total annual revenue of US$475 million – making Baker Tilly one of the 12 largest professional services firms in the US.
Commenting on the merger, Geoff Barnes, chief executive officer and president of Baker Tilly International said: “This is just one of a number of bold decisions our member firms and the network are making to ensure we are continuing to build on the strong foundations we already have in place. Our network is in great shape and I’m excited about the results our member firms are producing and the way our network is moving forward.”
“As independent members of Baker Tilly International, our two firms have worked collaboratively and successfully for many years and on many fronts,” said Baker Tilly chairman and chief executive officer Timothy L. Christen. “This merger is an opportunity for two successful, complementary firms to join forces and create even greater opportunities for our people, while broadening our geographic footprint and deepening our industry and service specialisation capabilities to better serve our clients as valued business advisors.”
A combined Baker Tilly/ParenteBeard will further expand and strengthen the firm’s presence in the northeast corridor of the US with a physical presence from the financial capital of the world (New York) to the US capital (Washington) helping to build the Baker Tilly brand in important markets.
“ParenteBeard and Baker Tilly share a common culture and set of values that emphasise a dedication to exceptional client service and creating opportunities for our people to grow and develop in their careers,” said ParenteBeard chairman and chief executive officer Robert J. Ciaruffoli.
“Our clients will benefit from even deeper industry knowledge and resources, as well as a broader depth of talent to deliver customised solutions to help them solve their business challenges.”