Private equity-backed Top 50 Firm Ascend has added BiggsKofford, expanding its geographic footprint in Colorado.
Ascend was formed in January 2023 by private equity firm Alpine Investors, and since then has added a number of regional firms with between $15 million and $50 million in revenue to its platform. Most recently, it acquired
BiggsKofford has offices in Denver and Colorado Springs, Colorado, and adds nine partners and over 40 staff to the Ascend team. Terms of the deal were not disclosed.
"Our partnership with Ascend is designed to strengthen, not change, how we serve our clients and our local community," BiggsKofford CEO Chris Blees said in a statement. "We didn't want to give up our independence, yet we know we need national-level recruiting, technology, and back-office resources to remain competitive. Ascend provides us with the perfect balance of those key ingredients, giving us the resources we need to thrive while allowing us to independently maintain our client relationships and manage our team and our work."
"Our success ... hinges on finding the right firms to partner with — leadership that holds fast to its independence, culture that jumps off the page, a talent strategy that sees around corners, and a client service philosophy that is personal but strategic. BiggsKofford is that firm. Over four decades, their team has earned a reputation as trusted advisors to Colorado business owners by fusing tax, CAS, and transaction advisory into a single, lifecycle-driven client experience. Their approach has created a distinct offering and a wonderful place to build a career. We are proud to build upon that legacy together," said Ascend president Nishaad Ruparel, in a statement.
As is common with these kinds of private equity deals, BiggsKofford will adopt an alternative practice structure, separating its attest and non-attest services.
"Partnering with Ascend allows us to continue operating independently, while gaining the large-firm support and resources we need to serve our clients well and continue growing, but which we couldn't accomplish alone," Blees added. "They have a world-class recruiting team and some exciting incentive programs that will move the needle on our ability to attract and retain great people, which will translate to an even better client experience. At the same time, we preserve our ability to independently manage our employees' day-to-day workload and performance. We think this strikes the perfect balance of large-firm benefits and small-firm atmosphere."
