Eide Bailly Merges in Daines Goodwin

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Eide Bailly is adding the accounting firm Daines Goodwin & Co., effective Dec. 5, 2016, expanding Eide Bailly’s presence in Utah.

The partners and staff of Daines Goodwin will be moving into Eide Bailly’s offices in Salt Lake City as part of the deal.

Eide Bailly is the third biggest CPA firm in the state in terms of the number of staff members. Along with Salt Lake City, Eide Bailly also has offices in Ogden and Lehi, Utah. The Fargo, N.D.-based firm ranked 20th on Accounting Today’s 2016 list of the Top 100 Firms, with $224.6 million in annual revenue.

“Adding Daines Goodwin continues our goal of growing strategically to better serve our clients,” said Eide Bailly managing partner and CEO Dave Stende in a statement. “Their team will help us grow our practice in Utah and give us valuable insights from a firm with strong ties and knowledge to the community.”

Being part of Eide Bailly will give the Daines Goodwin staff more career opportunities and benefits, according to tax partner Brent Daines. “Joining Eide Bailly is going to give them more control over how they want to develop their careers, which is exciting,” he added.

The firm has been serving clients in the Salt Lake City area for over four decades. “Our clients will have access to more resources and solutions, and we will have more time to devote to serving them and being their trusted business advisors,” said Daines Goodwin tax partner Chet Goodwin in a statement.

Gary Adamson, president of the CPA practice management consulting firm Adamson Advisory, helped arrange the deal.

“The culture fit was what got the deal done,” Adamson said in a statement. “Eide Bailly has a very entrepreneurial approach to running their offices and the firm, which was important to Daines Goodwin. We talked with several firms and felt that Eide Bailly was the perfect fit for the Daines Goodwin clients and team.”

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