Baker Tilly to acquire True Partners Consulting
Baker Tilly US LLP, a Chicago-based top 10 firm, plans to acquire True Partners Consulting LLC, effective November 1, 2022, expanding its corporate tax practice.
Financial terms of the deal were not disclosed. True Partners Consulting, which is also based in Chicago, had revenue of $49 million in 2021. It has 210 professionals, including 23 partners.
Baker Tilly ranked #9 on Accounting Today’s 2022 list of Top 100 Companies. Its revenue as of May 31, 2021 was $1.3 billion, across its advisory, tax and insurance practices. Baker Tilly has 6,500 professionals, including 550 associates.
True Partners Consulting specializes in corporate tax services for public and private companies and will give Baker Tilly a new capability in unclaimed property services.
“TPC has incredible talent and a reputation for excellence in the marketplace,” Craig Weaver, Baker Tilly’s managing tax partner, said in a statement Thursday. “Together, we share the desire to improve the customer experience through technology.”
TPC has multiple offices across the country and will bolster Baker Tilly’s tax presence in select major markets, including Chicago, Boston, Dallas, Metro New York, Silicon Valley and Los Angeles. The combination also extends Baker Tilly’s footprint coast to coast with locations in Tampa and Atlanta.
“Baker Tilly brings substantial resources and capabilities to TPC customers – and dramatically expanded opportunities for our team members,” TPC CEO Tim Costello said in a statement. “We have always been focused on the future, and we look forward to continuing to focus on a larger scale.”
Koltin Consulting Group CEO Allan D. Koltin advised the two companies on the combination. “TPC is well known in the tax arena: they know it inside and out,” he said in a statement. “Baker Tilly’s customer service strategy and philosophy, combined with its focus on unleashing and amplifying talent, has emerged as the natural choice to propel TPC’s vision for the future.”
Baker Tilly completed a number of M&A deals this year and last year. Last month, the company announced its intention to acquire Management partnersa government consulting firm with offices in Cincinnati and San Jose, beginning October 1. In May, Baker Tilly added Bader-Martin, a Seattle-based company. In March, Baker Tilly acquired Vanillaa UK-based enterprise resource planning consultancy, effective May 1. In February, Baker Tilly acquired Health Orchestra, a healthcare informatics consulting and professional services company based in West Palm Beach, Florida. Last November, Baker Tilly acquired The Compliance Groupa national mortgage compliance and quality control organization based in Carlsbad, California, as well as the AMF companies, a Boston-based accounting and consulting firm. Earlier in the year, the company acquired Arnett Carbis Toothman LLP in West Virginia, as well as CountTwoa Houston-based technology and services company, as well as Margolin, Winer & Evensa leading regional law firm in New York.