Baker Tilly Virchow Krause LLP and ParenteBeard LLC have agreed to merge. The deal is expected to close on Oct. 1, 2014.
The newly combined firm will take on the name Baker Tilly Virchow Krause LLP and will employ approximately 2,500 professionals across 29 cities in the U.S. The firm’s annual revenue is expected to generate $475 million.
“As independent members of Baker Tilly International, our two firms have worked collaboratively and successfully for many years and on many fronts,” Baker Tilly’s chairman and CEO Timothy Christen said in a statement. “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 specialization capabilities to better serve our clients as Valued Business Advisors.”
The combined firm will give both entities an opportunity to expand and strengthen their presence in the Northeast Corridor with a physical presence in New York and Washington, D.C. The new addition will serve financial, manufacturing, real estate, technology, commercial and governmental clients, which will build out the Baker Tilly brand in its prominent markets Pittsburgh, Philadelphia and New York.
“ParenteBeard and Baker Tilly share a common culture and values that emphasize a dedication to Exceptional Client Service and creating opportunities for our people to grow and develop in their careers,” said ParenteBeard chairman and CEO Robert Ciaruffoli. “Our clients will benefit from even deeper industry knowledge and resources, as well as a broader depth of talent to deliver customized solutions to help them solve their business challenges.”
The combined firm will employ approximately 2,500 professionals across 29 cities in the U.S., with total annual revenue of $475 million making Baker Tilly one of the 12 largest professional services firms in the country.