CALIFORNIA: Baker Tilly acquires Brown Adams Agbayani
Baker Tilly US LLP, a Top 20 Firm based in Chicago, said it intends to acquire Brown Adams Agbayani LLP, a firm in Mountain View, California, that specializes in complex tax strategies for private businesses and high-net-worth clients in the technology industry, expanding Baker Tilly’s presence in Silicon Valley.
Brown Adams Agbayani has been operating in Silicon Valley for about 40 years, providing sophisticated tax strategies for its tech clients.
“We admire how Brown Adams Agbayani has carved out its space and engrained itself into the fabric of this unique market,” said Stephen Milner, Baker Tilly’s managing partner for the Western U.S., in a statement Wednesday. “Combining that with Baker Tilly’s own expertise, we can truly broaden the reach and range of solutions for this clientele.”
“We’re proud of our history, and our commitment to the Silicon Valley and Bay Area will continue,” said Holly Wong Agbayani, co-managing partner of Brown Adams Agbayani, in a statement. “Joining Baker Tilly strengthens our capabilities to serve our clients’ sophisticated and multifaceted needs.”
Financial terms of the deal were not disclosed. Baker Tilly’s revenue for the fiscal year ending May 31, 2020, was $919.6 million. It ranked No. 2 on Accounting Today
’s 2020 list of the Top 100 Firms. Brown Adams Agbayani’s revenue for calendar year 2019 was $6.2 million. Baker Tilly has 4,200 professionals including 446 partners, while BAA has 19 professionals, including two partners.
Baker Tilly has been building its footprint in California, combining in August with Squar Milner LLP
. The firm now has eight office locations, including one in Silicon Valley (Campbell), up and down the coast. The combination with Squar Milner took effect Nov. 1. The anticipated effective date of the deal with Brown Adams Agbayani is Jan. 1, 2021.
“This combination provides exciting opportunities for our team members. In our interactions alone, we can see what a strong culture Baker Tilly has and how beneficial this will be for our colleagues now and in the future,” said Norleen Bounds, co-managing partner of Brown Adams Agbayani, in a statement.
In March, Baker Tilly acquired Talavant
, a data analytics firm in Madison, Wisconsin. Early last year, the firm also expanded into Texas by merging in Montgomery Coscia Greilich LLP
, a Top 100 Firm in Dallas.