Firm News

Hansen, Barnett & Maxwell joins Eide Bailly

August 1, 2013

SALT LAKE CITY — Eide Bailly is pleased to announce that Hansen, Barnett & Maxwell (HBM) will join the firm Sept. 1, continuing Eide Bailly’s growth in Utah and strengthening its position as the only regional accounting firm in the state.

Two other Utah firms have joined Eide Bailly this past year. Ogden-based Schmitt, Griffiths, Smith & Co. joined in November and Salt Lake City-based Lake, Hill & Myers joined July 1. The addition of HBM brings Eide Bailly’s Utah staff to 125 and raises its total staff to 1,300, including 194 partners. Eide Bailly is one of the 25 largest CPA firms in the country, with total revenues of $171M for the fiscal year ending April 30. HBM will add an additional $7 million of revenue to the combined firm.

“Adding HBM continues our strategy to expand west of the Mississippi River and better serve mid-market clients,” said Eide Bailly Managing Partner/CEO Dave Stende. “Our goal is to continue a high level of growth because it provides more opportunities for our people and adds services for our clients. We pride ourselves on an approach to service that melds the best of a small firm and large firm—personal, respectful service that includes a high level of partner involvement and, at the same time, national-firm business solutions. Now that we’re a major player in Utah and the only true regional firm in the state, we stand out as a clear option to the local firms and the large national firms.”

That approach to service was a big reason HBM joined Eide Bailly, said Bob Bowen, managing partner at HBM. “We’ve been courted by numerous regional firms the past five years, and nearly all these discussions never went past introductions for one reason—culture,” Bowen said. “We feel strongly that our culture is a large part of our success, and Eide Bailly shares our core values and principles. Joining Eide Bailly will allow us to continue our personalized and directed service for our clients while achieving our vision of being a dominant player in the Utah market.” Clients will now have access to expertise in a number of specialty areas, Bowen said, and HBM staff members are excited about the opportunities to expand their knowledge with more sophisticated training.

Kevin Andersen, who will serve as the partner-in-charge of Eide Bailly’s Utah offices, said the union with HBM improves the holistic approach Eide Bailly takes to serving clients. “An important part of our strategy is to continually look at our service mix and geographic footprint and ask ourselves, ‘how can we serve our clients better?’” Andersen said. “We are in a great position to offer whole-business solutions to our clients in the Western corridor, with services that go well beyond audit and tax. We offer a consultative approach that helps our clients build a better, more successful business.”

HBM brings 52 staff members to Eide Bailly, including nine partners: Bob Bowen, Mark Anderson, Mike Michelsen; Paul Skeen, Doug Hawkes, Ross Youngberg, Steve Avis, Matt Egnew, and Cory Nielson.

About Eide Bailly LLP
Eide Bailly provides 49,000 clients across the nation with our core services of audit & assurance and tax, as well as our expanded services, including accounting services, cost segregation, employee benefits, enterprise risk management, financial services, forensic & valuation, health care reform, international services, technology consulting, transaction services and wealth management. Eide Bailly has offices located in Phoenix, Ariz.; Boulder, Denver, Golden, Grand Junction, Frisco and Vail, Colorado; Boise, Idaho; Dubuque, Iowa; Norman, Oklahoma City and Tulsa, Okla.; Mankato and Minneapolis, Minn.; Billings, Mont.; Bismarck, Fargo and Williston, N.D.; Sioux Falls and Aberdeen, S.D; and Ogden and Salt Lake City, Utah.

About Hansen, Barnett & Maxwell, P.C.
Hansen, Barnett & Maxwell has served as a regional general accounting firm for the Salt Lake area since 1965 and offers a full range of assurance, tax, client accounting and consulting services.

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