Regional accounting firms BKD and DHG have agreed to merge, creating a top-10 and national professional services firm.
Tom Watson, the current CEO of BKD, will serve as the CEO of the new organization; and Matt Snow, the current CEO of DHG, will serve as chairman. The name of the merged company will be announced before the expected close of the transaction in the second quarter of 2022.
Springfield, Missouri-headquartered BKD – founded as Baird, Kurtz, & Dobson in 1923 – ranks among the nation’s top-15 accounting firms with approximately 3,300 employees.
Charlotte, North Carolina-headquartered DHG (Dixon Hughes Goodman) is a top-20 accounting firm with more than 2,000 employees. DHG was formed by the 2003 merger of two Southeast regional accounting firms – Dixon Odom with Crisp Hughes Evans – and the 2011 merger with Goodman & Company.
“For years, both BKD and DHG have built strong reputations as high-value, professional client service firms,” said Mr. Watson. “We’ve established complementary geographic footprints and strong capabilities in a range of critical service sectors. Together, as one organization, we will deepen our bench strength even further, allowing us to continue to serve our existing client base while also providing the resources necessary to serve an ever-increasing upstream client base.”
“The scale of our combined firms, our collective talent and similar cultures will translate to tremendous benefits for our clients and team members,” said Mr. Snow. “Both of our firms have an overlapping industry focus in healthcare, financial services and private equity, coupled with other industry sectors where each legacy firm is individually strong. As one organization, we will be able to bring our capabilities to a broader range of clients, providing more innovative, client-centric services to the market.”
According to BKD and DHG, the new firm will have more than $1.4 billion in revenue and will become the eighth largest accounting firm in the United States with more than 5,300 employees across 68 markets in 27 states and the United Kingdom.
© 2022 Private Equity Professional | February 25, 2022
