Two IPA Top 100 Firms Announce Merger – Baker Tilly Firms Join Forces

Madison, Wis.-based Baker Tilly Virchow Krause (FY09 net revenue of $207.2 million, 10 offices) and Beers + Cutler (FY08 net revenue of $60.8 million) of Vienna, Va. have announced the merger of the two firms, effective December 1, 2009.

“Merging with B+C, also an independent member of Baker Tilly International will enhance our ability to serve clients and strengthen the brand in the U.S.,” says Tim Christen, CEO of Baker Tilly Virchow Krause.

“The merger is about creating opportunities,” Beers + Cutler MP Ed Offterdinger added. “In looking out at the next five and ten years, it will become increasingly important to have a national and global platform to maintain a competitive advantage in the marketplace.”

On June 1, Virchow Krause & Co. re-branded as Baker Tilly Virchow Krause. The agreement gave VK&Co. the exclusivity of being branded Baker Tilly in the U.S. while also working within the Baker Tilly International Network. As for VK&Co., the move was intended to give the firm a chance to vie for the mid-market accounting, tax and business service work the Big Four doesn’t touch. “We believe there’s a tremendous amount of work that requires a global brand. Our strategy is not to be a Big Four firm. We are looking for the next tier and to compete for a big part of that space,” Christen says.

“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 B+C, and we see Washington, D.C. as a critical market as we continue to develop the Baker Tilly brand in the U.S.,” says Christen.

“Merging with Baker Tilly will allow us to better serve our clients while providing additional opportunities for our people,” says B+C MP, Ed Offterdinger. B+C, will serve as BTVKs east coast hub as Baker Tilly continues its national expansion. The combination of these firms will result in a $250+ million firm with more than 1,400 team members.

BT currently has offices in Chicago, Detroit, Minneapolis, New York and throughout Wisconsin.