Sikich LLP is expanding its employee benefit services business by acquiring Evolution Retirement Services, a firm based in the Milwaukee area.

Based in Wauwatosa, Wis., Evolution specializes in offering retirement plan design and administrative services for small and midsize businesses, including profit-sharing plans, 401(k) plans, money purchase pensions and cash balance plans. The company’s employees will join Sikich’s office in Brookfield, Wis.

“Our team is skilled at helping companies develop and administer employee benefit plans that enable them to attract and retain talent,” said Sikich CEO and managing partner Chris Geier in a statement. “At the same time, we help them comply with complex regulatory requirements. The addition of Evolution Retirement Services will add depth to our employee benefit services practice and enhance the retirement planning services we offer companies across industries.”

The ERS acquisition is expected to close effective April 1. Financial terms of the deal were not disclosed. Sikich, based in Naperville, Ill., ranked 27th on Accounting Today’s 2017 list of the Top 100 Firms, with $146.4 million in annual revenue. ERS has annual revenue of approximately $750,000. The entire ERS staff of five employees will be joining Sikich; however, none will be at the partner level, according to a Sikich spokesperson.

“We are very excited and proud to be joining Sikich,” said ERS president Mark Maurice in a statement. “This deal allows for regional expansion of our retirement plan administration services and ensures long-term stability for our employees and clients. Further, Sikich’s depth of expertise across its various practice areas will enable us to offer our clients new insights and services.”

Sikich LLP's lobby in Naperville, Ill.
Sikich LLP's lobby in Naperville, Ill. Courtsy of Sikich LLP

The ERS acquisition follows several M&A deals last year by Sikich, including with Brockman, Coats, Gedelian & Co., an Akron, Ohio-based firm offering audit, assurance, tax, technology and wealth management services; SCS, a technology firm in Glendale, Calif.; and Stanfield & Associates, a Downers Grove, Ill.-based accounting firm.

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