M&A roundup: Deals from Seattle to Orlando

Eide Bailly LLP, a Top 25 Firm based in Fargo, North Dakota, is merging in King & Oliason PLLC, a firm based in Seattle, effective July 17.

The combination will give Eide Bailly its first office in Seattle and add six partners and 33 staff to the firm. Financial terms of the deal were not disclosed. Eide Bailly ranked No. 19 on Accounting Today's 2023 list of the Top 100 Firms, with $532.8 million in annual revenue. The firm has over 3,000 people, including more than 375 partners.

"King & Oliason's workplace culture alignment, coupled with their longstanding commitment to  delivering exceptional client service, positions them as an outstanding addition to Eide Bailly," said Eide Bailly managing partner and CEO Jeremy Hauk in a statement Monday. "I am so impressed with their leadership, discipline  and cultural values. We welcome the King & Oliason team into the Eide Bailly family and eagerly  anticipate the remarkable achievements we can accomplish together."

King & Oliason sees advantages in the combination as well. "Their innovative workplace culture and unwavering commitment to professional development will  enable us to attract and retain the most talented individuals in the field," said King & Oliason managing partner Norma Oliason in a press release. 

"By joining Eide Bailly, we can provide our clients expanded advisory services and industry-leading  thought leadership to help provide the essential tools needed to achieve their goals," added Rick  Starkenburg, a partner at King & Oliason, in a statement.

Leaders of the two firms were brought together by Private Practice Transitions. "It was clear from the first introduction that there is a significant culture alignment with this  combination," said owner Justin Farmer in a statement.  

Last year, Eide Bailly merged in Seim Johnson, a firm in Omaha, Nebraska. In 2021, the firm expanded in Minnesota by adding PWB CPAs & Advisors, a firm based in the Minneapolis-St. Paul area. In 2020, it added Mukai, Greenlee & Co. in Phoenix,  HMWC CPAs in Tustin, California, and Platinum Consulting in Fullerton. In January of this year, Noble Consulting Services, a subsidiary of the accounting firm Katz Sapper & Miller, acquired Eide Bailly's insurance regulatory practice.

Hancock Askew & Co, LLP, a Regional Leader firm based in Savannah, Georgia, is adding Ferrell & Kelly CPAs, a firm in the metropolitan Orlando area. 

As part of the deal, Tonya Kelly and Steve Yeager will join as tax partners, bringing Hancock Askew's total partner count to 25, while 10 other staff members from the Ferrell & Kelly team will become team members at Hancock Askew, for a total headcount of 275.

Through the merger, Hancock Askew is establishing a strong presence in the Orlando market and building upon the firm's growth strategy to become a premier firm in Georgia and Florida.

"The Orlando market was a key location to our growth in Florida and complements our existing Florida offices in Miami, Tampa and Jacksonville," said Hancock Askew managing partner Michael McCarthy in a statement last week. "Together with our Georgia offices in Savannah, Atlanta and Augusta, we're poised to service clients throughout both states and throughout the Southeast region."

Ferrell & Kelly specializes in tax and accounting services for individuals and businesses with a focus on domestic and international tax. 

"We are excited to merge with Hancock Askew and provide additional services and resources to our clients," said Kelly in a statement. "We're especially looking forward to the expanded career and development opportunities this merger provides to our team members and the culture that we'll become a part of at HAC."

Financial terms of the deal were not disclosed. Hancock Askew ranked No. 13 on Accounting Today's Regional Leaders list for the Top Firms in the Southeast, with $40.62 million in annual revenue.

In 2020, Hancock Askew expanded to Jacksonville, Florida, by merging in S. Mark Hand & Associates and earlier that year expanded its presence in Miami by adding CA P.A.

Getzel Schiff & Pesce LLP, a firm based in Woodbury, New York, is adding a fellow Long Island firm, Kalmus, Siegel, Harris, & Goldfarb CPAs LLP, effective July 1. 

Financial terms of the deal were not disclosed. The combined firm will operate out of GSP's offices in Woodbury, according to the Long Island Business News.