BDO expands in Pacific Northwest with Peterson Sullivan
BDO USA LLP announced that it will be adding Seattle-based Regional Leader Peterson Sullivan LLP, effective November 1, 2019.
Financial terms of the deal were not released, but Peterson Sullivan is expected to add 175 partners and professionals to BDO, which ranked No. 7 on Accounting Today’s 2019 Top 100 Firms list and recently reported $1.64 billion in revenue for the year ending June 30, 2019 (see the full story). Peterson Sullivan, which ranked No. 18 among the Regional Leaders in Accounting Today’s West Region, reported $33 million in revenue last year.
“The addition of Peterson Sullivan strengthens BDO’s presence in the Pacific Northwest and creates a strong foundation as we continue to execute our targeted growth strategy,” said BDO CEO Wayne Berson in a statement. “Peterson Sullivan and BDO share common values — believing strongly that an exceptional culture with exceptional people results in an exceptional client experience.”
“BDO has fueled its tremendous growth by combining with entrepreneurial and successful CPA firms that not only complement their service offerings and culture, but add value for their clients,” said Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination. “The addition of Peterson Sullivan offers tremendous opportunity throughout the Seattle market and the entire Pacific Northwest region. Peterson Sullivan garnered interest from many national and mega-regional firms. Ultimately, they felt BDO provided their partners and associates with a great playbook and platform to expand services to their clients.”
“Peterson Sullivan has built our reputation over the last 65 years by providing exceptional client service and developing deep connections within the community,” said the firm’s managing partner, Chris Russell, in a statement. “In joining BDO, our clients will continue to receive the personalized and responsive attention they have come to expect, now with enhanced access to more specialized services, broader industry expertise, and BDO’s extensive global network.”
Russell will serve as market managing partner of BDO in Seattle, while Michael Reeves and Bob Filip will continue in their respective roles as BDO’s assurance and tax managing partners for the combined Seattle practice.
For the moment, BDO will maintain two offices in the Seattle area, but it expects to eventually consolidate them into Peterson Sullivan’s current location.