The smell of fresh partners has been permeating through the air this week. First, PwC unleashed its 2019 class of 249 new partners and principals on the 50 states and Mexico on May 31. Then earlier today, I saw this: Baker Tilly admits 20 new partners specializing in a variety of industries and services across […]
Apologies for this slipping through the cracks, but earlier this month, Baker Tilly Virchow Krause announced it was bringing 11 new partners onboard. The new partners—four ladies and seven gentlemen—officially got their stripes on June 1. Since 2013, Baker Tilly has admitted an average of about 11 partners a year, so this year’s class is […]
Back in June, we learned that Baker Tilly was in merger talks with ParenteBeard. Unlike certain accounting firms in merger talks that shall remain nameless, it seems at least on the Parente side there was nothing to hide. Who wouldn't want to be proud to be the 12th largest accounting firm in the country post-merger? […]
So you’ve been embezzling money from your employer for awhile and what’s a girl to do? Well you could spend it on your wedding but if you’re already hitched then it’s has to get blown elsewhere. Besides, the £470,000 that Joanne Kent stole is chump change compared to what Sue Sachdeva had on her hands:
• $225,000 at Karat 22 Jewelers.
• $1.4 million at Valentina Boutique a high-end joint in Mequon, WI.
• $20 million on artwork.
• $649,000 at Zita Bridal Salon, even though she was already married. Probably just wants to wear a gown to slob around in.
• $670,000 at Au Corant a Milwaukee-based fashion retailer.
• $4.5 million on credit card bills.
A decent haul although the new GT leadership can’t be thrilled to have this shopping spree land in their laps.
Btw, congrats to Baker Tilly Virchow Krause, the new auditors, on the pickup. We’re sure it’ll be a breeze from here on out.
Chicago-based Baker Tilly Virchow Krause announced today that they are merging with Beers & Cutler, a firm based Vienna, VA.
This latest acquisition by BTVK — its twelfth this decade — is part of the firm’s “national expansion” and will add to its presence on the East Coast with the Vienna office acting as the hub in addition to its New York City location.
The Washington Business Journal reports that BTVK’s expansion goals include doubling its revenue to $400 million by 2012, which CEO Tim Christen calls ‘conservative.’
From the press release:
“When we look for merger partners, we focus on the quality of the people and the reputation of the firm. There are many synergies between Baker Tilly and Beers + Cutler, and we see Washington, DC as a critical market as we continue to develop the Baker Tilly brand in the U.S.,” said Tim Christen, CEO of Baker Tilly. “As independent members of Baker Tilly International, we have been colleagues for many years, and together, we believe in the power of the network and the value it brings to our clients around the world.”
Beers & Cutler had been expanding their practice rapidly over the past four years, increasing its number of employees from, 202 in 2005 to 319 in 2008. In 2009, B&C cut 55 employees — 17% of their total headcount — however, managing partner Ed Offterdinger insists they were not related to the merger:
“[These layoffs] were not at all a factor in the decision to merge,” said Ed Offterdinger, Beers & Cutlers’ managing partner. “We’re doing this from a position of strength.”
The downturn is easing, and the firm is seeing increased demand for its services, and “the merger will help accelerate that,” he said.
The Washington Business Journal does report that the merger will lead to an additional ten layoffs, but that the firm will be adding staff “in the near future.”
Our understanding is that Mr. Christen and Mr. Offterdinger are meeting with Beers & Cutler staff today and were not available for interviews or additional comment. If you work at either of these firms and have any additional details (especially if you were in the B&C “meeting”) on this story, get in touch with us.
Beers & Cutler to merge into Baker Tilly Virchow Krause [Washington Business Journal]