Mergers: May 7

KPMG Acquires Restructuring Advisory Firm BBK

New York-based KPMG LLP (FY12 net revenue of $5.8 billion) acquired Southfield, Mich.-based BBK, a leading restructuring advisory firm. The transaction will expand KPMG’s integrated transactions and restructuring services to help manufacturers and their suppliers in the automotive and industrial sectors address financial and operational challenges.

“Expanding KPMG’s financial and operational services will help our clients inspire greater confidence among their stakeholders, improve overall performance and mitigate risks,” says Lynne Doughtie, vice chair for advisory at KPMG. “Those goals are at the heart of the value we provide and are very much aligned with the attributes BBK will bring to our firm.”

Founded in 1977 with professionals in Michigan, California and Tennessee, BBK helps clients implement strategic, process-driven approaches to solve complex financial and operational challenges. As part of the transaction, BBK’s CEO Bill Diehl will join KPMG as co-leader of the firm’s operational restructuring practice.

“We look forward to combining our resources with KPMG’s experienced professionals and innovative approaches to managing risk,” says Diehl.

 

EKS&H Forms Partnership With Fitzgerald & Law

London-based Fitzgerald & Law (F&L), has partnered with Denver-based EKS&H (FY13 net revenue of $70.5 million) to provide complementary services that “bridge the gap” between the U.S. and the U.K.

Companies making the leap across the Atlantic can expect a number of legal and accounting differences compared to their home country. Without comprehensive local expertise and technical knowledge of international rules and regulations, many experience delays in setting up. The partnership is designed to provide advice on all aspects of setting up and operating a business in the U.K. or U.S. market.

“We’ve seen a huge increase in global expansion over the past five years, which will only continue as businesses seek to enter the global market,” says Jonathan Boyfield, partner at F&L. “EKS&H is incredibly valuable in supporting our U.K. clients’ set up in the U.S.”

 

Carr Riggs & Ingram Acquires CPA Firm

Auditwerx of Tampa, Fla., a firm specializing in performing auditor assurance engagements to meet regulatory or customer compliance needs for service companies, has been acquired by Enterprise, Ala.-based Carr, Riggs & Ingram, LLC (CRI) (FY12 net revenue of $111.3 million). Auditwerx will maintain its Tampa location and staff, and operate under the name of Auditwerx, a Division of CRI.

“IT audit services, specifically service organization control (SOC) reporting, have been a growth channel for our firm for several years,” says William Carr, chairman and MP of CRI. “By combining the expertise and client portfolio of Auditwerx with a top 25 accounting firm like ours, the new Auditwerx division of CRI will deliver the same exemplary SOC reporting quality while leveraging operations processes and resources available from a super-regional firm.”

For Auditwerx, a Division of CRI, the merger offers industry diversity and expanded client services.