Top 100 Firm Eide Bailly LLP, has agreed to add the Reno, Nev.-based firm Kafoury, Armstrong & Co. to its roster. The combination will be completed on Dec. 15, 2014.
The deal includes 10 partners from Kafoury Armstrong and 56 staff members. The new addition gives Eide Bailly 28 offices in 12 states, 1,547 staff members, which include 225 partners.
In November, Eide Bailly tapped into Nevada with the addition of Muckel Anderson in Reno. The Kafoury Armstrong addition brings in three offices which are located in Fallon, Elko and Las Vegas, Nevada.
“Kafoury Armstrong ties nicely into our plan to expand into the western region of the United States, and gives us the opportunity to strengthen our presence in Nevada,” Eide Bailly’s CEO and managing partner Dave Stende said in a statement.
Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the deal, said that Eide Bailly will continue to attract high performing firms that are looking for a bigger platform and service offerings for their clients. “Eide Bailly is part of a select group of national firms that have the entrepreneurial culture to attract successful firms like Kafoury Armstrong,” said Koltin. “They had numerous national firms interested in them, but chose Eide Bailly for its outstanding leadership, commitment to service excellence, and the great growth opportunities for its people.”
Todd Ferguson, CEO and shareholder of Kafoury Armstrong, will join Eide Bailly’s tax department, where he will lead the division in Nevada. “Being a part of Eide Bailly gives us the ability to help our clients with immediate and long-term business needs, such as business valuations, cost segregation studies and technology services," he said. "We want to help our clients reach the next level in their business, and this positions us to do that. I am very excited to join a firm that has a similar culture and service philosophy to Kafoury Armstrong.”
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