Baker Tilly Virchow Krause merges with ParenteBeard

08 September 2014

Two of the top 25 accounting and advisory firms in the United States – Baker Tilly Virchow Krause and ParenteBeard – have announced that they will merge, effective on 1 October. After the merger the new firm will continue its operations as Baker Tilly Virchow Krause, and remain part of the Baker Tilly International network.

With more than 1,700 employees, Baker Tilly Virchow Krause is a top-20 player in the American professional services market. The firm is headquartered in Chicago and serves clients from 11 offices across the country. Counterpart ParenteBeard has approximately 800 professionals and similar to Baker Tilly provides accounting and business advisory services to small businesses, middle market companies, nonprofits and multinationals.

Baker Tilly Virchow Krause merges with ParenteBeard

Over the past years Baker Tilly Virchow Krause and ParenteBeard – who both are members of Baker Tilly International* – have worked closely together, both in business development as in project delivery and knowledge management. Based on the successful cooperation and common culture and values, the advisory firms have now decided to join their forces are merge. The combined firm, which will keep the Baker Tilly Virchow Krause name, will employ approximately 2,500 professionals across 29 cities in the United States. Its revenue will jump to $475 million – making it the 12th largest professional services firm in the United States.

“This merger is an opportunity for two successful, complementary firms to join forces and create even greater opportunities for our people while broadening our geographic footprint,” says Baker Tilly Chief Executive Officer Timothy L. Christen. According to Robert J. Ciaruffoli, Chief Executive Officer of ParenteBeard, the merger will also prove benefits to customers: “Our clients will benefit from even deeper industry knowledge and resources, as well as a broader depth of talent to deliver customized solutions to help them solve their business challenges.”

Robert Ciaruffoli - Timothy Christen

* Baker Tilly International is a London-based network of 161 independently owned and managed accounting and business advisory firms from 137 countries, with a combined revenue of $3.4 billion.


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SQW Group purchases property-based regeneration consultancy

19 April 2019

UK consulting firm SQW Group has completed its first acquisition since it completed a management buyout in January 2019. BBP Regeneration joins the company having collaborated with SQW for more than 20 years.

Established in 1983, SQW Group now operates all over the world. Comprising SQW, Oxford Innovation, Oxford Innovation Services – one of the UK’s leading innovation centre operators – and Oxford Investment Opportunities Network, the organisation’s origins can be traced to Britain’s two ancient university cities: Oxford, through Oxford Trust founders, Martin and Audrey Wood, and Cambridge, through SQW’s work in producing The Cambridge Phenomenon.

The consultancy specialises in public policy, working with entities from the public, private and voluntary sectors to research, develop, implement and evaluate social and economic development interventions. It now employs over 250 people across regional offices in London, Oxford and Edinburgh, and provides business support to over 4,000 entrepreneurs and small businesses each year. At the start of 2019, SQW secured its independence in a management buyout, advised on by M&A experts from Liberty Corporate Finance and Penningtons Manches.

SQW Group purchases property-based regeneration consultancy

SQW has strengthened its position as a provider of services across the business spectrum with the acquisition of BBP Regeneration. Founded in 1994, the consulting firm specialises in land and property-based regeneration and growth schemes, and is a leading social and economic development consultancy. 

The two firms first worked together over 20 years ago, when SQW and BBP collaborated to develop the first Regional Economic Strategy for the South East. More recently, they developed an economic strategy for Thanet and are now working together in locations stretching from Cwmbran via Oxfordshire to London.

With the addition of BBP, SQW can now provide an integrated advisory service for organisations developing property schemes which deliver economic benefit to their local area. By joining SQW, meanwhile, BBP hopes to further enhance its ability to support clients in delivering property and place-making ambitions. 

Speaking about the deal, SQW CEO David Crichton-Miller commented, “The UK more than ever needs solutions to the challenges of places – of high streets under threat, of meeting housing delivery targets, and of both economically over-successful and economically challenged towns and cities – and the combination of SQW and BBP is uniquely suited to developing those solutions. [This deal] brings together critical and complementary services relating to places to serve our clients with leading edge and practical advice.”

Andy Smith, Director of BBP Regeneration, added, “SQW shares with BBP the same values of seeking to provide outstanding, practical, real world advice that helps get buildings built and places developed.  We greatly look forward to the opportunities that come from joining our two organisations together.”