FARGO, N.D.—Schmitt, Griffiths, Smith & Co. (SGS), northern Utah's premier service firm, will join Eide Bailly, a regional public accounting and business advisory firm, on Nov. 1. This union will bring Eide Bailly's total staff to 1,200, including 165 partners. The Firm's total revenues for fiscal year ended April 30, 2012, and was $158 million. SGS will add $6 million of revenue to the Firm.
According to Jerry Topp, Eide Bailly managing partner, the acquisition is a continuation of Eide Bailly's existing growth strategy to connect contiguous geographies. "SGS is a very successful organization with a strong practice in Utah. Bringing SGS into the Eide Bailly family will connect our Phoenix, Denver, Boise and Billings practice areas," Topp said.
SGS has been affiliated with Eide Bailly through Practicewise, an association of small- to mid-sized CPA firms across the nation, since 2005. "We have built a great relationship with SGS and feel they are an excellent fit with Eide Bailly," Topp said. "We have found the SGS culture is very similar to ours. They focus on helping their people grow and succeed through new opportunities. Having similar values are key to a successful union."
The acquisition will enable the two firms to provide additional benefits to clients through expanded service lines. "We are excited to have the industry expertise that Eide Bailly will provide to our clients, community and state," said Stuart Tholen, president of SGS. "It will also provide increased opportunities for our team to grow professionally under Eide Bailly's strong training, mentorship and leadership development programs."
Tholen will serve as partner-in-charge of the Utah practice. Additional partners joining Eide Bailly include Dan Milne, Nikki Thon, Ken Jeppesen, Eric Johnson, and Brett Dagley.
About Eide Bailly LLP
Eide Bailly provides 40,000 clients across the nation with our core services of audit & assurance and tax, as well as our expanded services, including accounting services, employee benefits, enterprise risk management, financial services, forensic & valuation, technology consulting, transaction services and wealth management. The Firm has offices located in Phoenix, Ariz.; Boulder, Denver, Frisco, Golden, Grand Junction and Vail, Colo.; Boise, Idaho; Dubuque, Iowa; Mankato and Minneapolis, Minn.; Billings, Mont.; Fargo and Bismarck, N.D.; Norman, Oklahoma City and Tulsa, Okla., and Sioux Falls and Aberdeen, S.D.
About SGS
Schmitt, Griffiths, Smith & Co. is Northern Utah's leading tax, audit and consultation firm. SGS has been in business for more than 37 years providing professional services ranging from accounting, tax, audit and consulting to business application software and network solutions. SGS has offices in Northern Utah and Boise, Idaho servicing clients throughout the Intermountain West.
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