BKD LLP has purchased the Colorado Springs, Colo., practice of Grant Thornton LLP, in a deal effective May 1.
Financial terms of the deal were not disclosed.
BKD already has an office of about 55 employees in Colorado Springs and expects the 15 employees from the Grant Thornton office to make the move to a combined office. Grant Thornton's Dennis Yockey and Tad Goodenbour have already joined BKD as partners. BKD also has an office with 60 employees in Denver and four audit professionals from Grant Thornton's Denver office -- all dedicated to serving the not-for-profit and government niche -- have transferred to BKD's downtown Denver office.
The combined BKD Colorado practice will have about $18 million in revenues.
According to managing partner in Grant Thornton's Denver office, Brett Lewis, during the past few years the firm has refocused its resources on large metropolitan areas and serving increasingly larger clients, including former Big Four clients. In a statement, Lewis said the sale will allow Grant Thornton to focus its time, energy and resources on the Denver marketplace.
BKD has a strong tax practice serving high net-worth individuals and serves significant numbers of not-for-profits and governmental entities throughout the state. Other industry and service niches include construction, financial institutions, forensics, health care, manufacturing and distribution, real estate and wealth management.
BKD ranked No. 12 on Accounting Today's 2006 list of Top 100 Firms, with revenues of $258.7 million.
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