based in chicago baker tilly (FY2023 net revenues of $1.6 billion) Today, we announced a strategic investment from a global private equity firm. hellman & friedman (H&F) and Valeas Capital Partners (Valeas).
The investment is expected to close in early June 2024 and represents the largest private equity investment to date in the U.S. CPA industry, recognizing Baker Tilly's outstanding track record in value creation, the firm announced.
Over the past five years, Baker Tilly has been ranked No. 10 by IPA.th The country's largest company has doubled its workforce as it expands domestically and internationally. Significant investment from H&F and Valeas (terms not disclosed) as the company accelerates growth through investments in talent, technology and further strategic acquisitions aimed at providing best-in-class customer service access to additional capital and capacity.
As part of this transaction, the company will be reorganized into two entities: Baker Tilly Advisory Group The company provides business advisory, tax and other services. Jeff Ferro He will continue in his role as CEO. baker tilly usais a licensed CPA firm and provides firm attestation services. Jer ShoberAs MP for Risk and Assurance, I step into my new role as CEO.
Baker Tilly US operates as a separate legal entity, subject to regulatory and independence requirements. Following the reorganization, the two companies will maintain a partnership, with all partners owning shares in Baker Tilly Advisory Group along with H&F and Valeas.
“We are a blue-chip, growth-oriented private equity investor who supports our vision, recognizes the value we have already created, and understands our vast future potential. We are very proud to be partnering with H&F and Valeas,” said Ferro. “This transaction puts us in an even stronger position to grow and invest in our business and create new opportunities for our talented team members and valued customers.”
blake kleinman The H&F partner said: Baker's Tilly has built a remarkable company with an empowering culture, highly talented employees, and an impressive track record of growth through superior customer service and smart acquisitions. ”
Ed Wojteszek “As a leading global accounting, tax and advisory brand with a strong track record of value creation and growth, Baker Tilly, co-founder and member of Valeas, is uniquely positioned to lead the transformation of the industry. I look forward to working with Baker Tilly's leadership to further advance the company's impressive growth trajectory in the coming years.”
Alan Coltin “We are thrilled to be working with Baker Tilly and Hellman & Friedman,” said CEO of Koltin Consulting Group, which advised Baker Tilly and Hellman & Friedman throughout the process. accounting industry. ”
Baker Tilly engaged William Blair & Company As its financial advisor, Foley & Lardner as legal advisor on this transaction. simpson thatcher and bartlett and Vedder Price Served as legal advisor to H&F; rope & gray Valeas advised.