Accounting and consulting firm Baker Tilly US (formerly Baker Tilly Virchow Krause) has acquired Squar Milner, one of the largest independent accounting firms in California.
Squar Milnar is #40 on Accounting Today’s list of the Top 100 US firms, with 550 professionals and $130 million in annual revenues. The firm is headquartered in Orange County, and has three offices in the San Francisco Bay Area, three offices in LA, one in San Diego, and one international office in the Cayman Islands.
Founded in 1938, Squar Milner provides services in audit, tax, wealth management, and consulting. The firm’s consulting offering includes business management, litigation support, forensic accounting, bankruptcy, real estate, and CFO services.
Baker Tilly US’ acquisition of Squar Milner greatly enhances its presence and capabilities in California, adding eight offices with in-depth knowledge of the Golden State’s unique markets. Baker Tilly previously had California offices in Orange County, Sacramento, San Diego, and San Francisco.
Baker Tilly is currently the #12 firm on Accounting Today’s list of Top US firms, with $789.6 million in revenues and 3,700 employees. The combination will likely push the firm into the top 10, with revenues approaching the $1 billion mark and a 4,300-person footprint.
Baker Tilly US has more than 50 offices in the United States, with further international locations in the UK, Germany, Australia, the UAE, Singapore, and Chile. The company is the largest member firm of Baker Tilly International, a network of independent accounting and consulting firms with 36,000 professionals in 146 territories.
“We are creating a new organization with substantial scale – a true combination of two leading advisory CPA firms that are forward-thinking and future-leaning,” said Alan Whitman, CEO of Baker Tilly US. “Together we are driving progress for a new world, combining our knowledge and expertise to guide our clients through anything.”
Squar Milner will rebrand to Baker Tilly US as part of the deal, which is expected to close on November 1, 2020. The financial terms of the transaction were not disclosed.
“We are still very much dedicated to serving our California communities, and we are delighted to have the coast-to-coast and global advantage,” said Stephen Milner, managing partner of Squar Milner. “Our firms are like-minded in our commitment to our clients, support for our profession, and putting people at the center of it all.”
Baker Tilly earlier this year acquired Talavant, a Madison, WI–based data analytics management consulting firm with 25 data professionals. In 2018 the firm acquired RGL Forensics, a Denver-based forensic accounting specialist with 175 global employees.