BKD expands to Utah by merging in Stayner Bates
BKD, a Top 100 Firm based in Springfield, Missouri, is adding Stayner Bates PC, a firm in Salt Lake City, effective June 1, 2019, extending the firm’s footprint to Utah.
Stayner Bates specializes in assurance, tax, consulting and business valuation services, supplementing BKD’s capabilities in the Western market.
Financial terms of the deal were not disclosed. BKD ranked No. 13 on Accounting Today’s 2019 list of the Top 100 Firms. BKD’s annual revenue is approximately $600 million, to which Stayner Bates is expected to add $5.7 million.
BKD has 38 offices in 17 states. Stayner Bates plans to remain at its offices in Salt Lake City.
“With the addition of Stayner Bates, BKD has accomplished a long-standing goal of joining the Utah market,” said Jeff Ronsse, managing partner of BKD's Colorado and Salt Lake City practice unit. “The combination enhances BKD’s resources and provides Stayner Bates with greater growth opportunities and market presence.”
“This is certainly a win-win situation for all involved,” stated Stayner Bates president Steve Hanni. “We’re happy to be joining BKD and using our industry knowledge and familiarity with this region to help better serve our clients and grow the firm.”
BKD has approximately 300 partners and 2,410 staff members, while Stayner Bates has four partners and 31 staff.
“We want to extend a warm welcome to our new BKD team members,” said BKD CEO Ted Dickman in a statement. “Stayner Bates’ commitment to client service and true expertise will assist us in accomplishing our goals as we move forward.”
Last year, BKD did a number of M&A deals, including with Loeb & Troper in New York and Rylander, Clay & Opitz in Fort Worth, Texas. It also expanded last year to Wichita, Kansas, by acquiring a portion of Grant Thornton’s Wichita audit and tax practice, and it acquired the financial institution practice of Houston-based Harper & Pearson Co.
BKD offers a variety of assurance, tax and accounting outsourcing services. It is also one of the largest U.S. members of Praxity, a global alliance of independent firms.