BKD has acquired Parrish, Moody & Fikes, expanding the firm’s presence in Texas, particularly with health care clients.
The Waco-based firm will extend Springfield, Mo.-based BKD beyond its existing offices in Houston, San Antonio and Dallas.
“We want to continue our strategy of growing a dominant health care practice in Texas, and the timing was right for PMF to join our firm,” BKD CEO Neal D. Spencer said in a statement. “Their commitment to excellence and client service, along with their health care industry expertise, makes the firm a fitting addition to BKD.”
Dallas managing partner Larry King and Dallas assistant managing partner Tom Watson will lead the Waco office, which will be affiliated with BKD’s Dallas practice.
The acquisition took effect on July 1. BKD ranked 10th on Accounting Today’s list of the Top 100 Firms. The deal is expected to add about $7 million to last year's revenue of $391 million, according to BKD spokesman Chad Person. BKD had a $10 million health care practice in Texas before the acquisition, and the combined firm will now have a $16 million health care practice, with clients covering about 25 percent of the hospitals in Texas.
PMF has a long history of serving community hospitals in Texas. The firm’s audit, Medicare and Medicaid advisors work with more than 80 hospitals. . In addition to assisting health care providers, PMF provides tax planning, business valuation, technology and litigation support services to companies in a variety of industries.
PMF will bring approximately 50 team members, including partner Michael Oatman, to BKD. Oatman said former PMF clients will now have access to BKD’s network of resources, including firm subsidiaries BKD Wealth Advisors, LLC, an independent wealth management firm, and BKD Corporate Finance, LLC, which provides corporate finance services related to mergers, acquisitions, sales and succession planning.
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