Baird Kurtz & Dobson and Olive, LLP, the 11th and 18th largest CPA and consulting firms in the U.S., intend to merge on June 1, 2001. The announcement was made Monday by William (Bill) E. Fingland, Jr. managing partner of Baird, Kurtz & Dobson, and John D. Harris, chief executive officer of Olive. The combined firms will adopt the new name BKD, LLP.
The resulting regional powerhouse, with combined revenues exceeding $200 million on June 1, will be the largest regional professional services firm in the U.S. The new firm will have 27 offices in Arkansas, Colorado, Illinois, Indiana, Kansas, Missouri, Nebraska, Ohio, Oklahoma and Texas and personnel numbering approximately 1,500, including nearly 200 partners. Based on last year's list of the Top 100 Public Accounting Firms in the United States, this combination will have the result of moving BKD, LLP into 8th position on the list.
The merger combines two well-established firms with complimentary services and values, each dominant in its respective geographical area and focused on serving family-owned and middle market clients.
"We share many of the same industry and service specialties, including health care, financial institutions, manufacturing/distribution, retail, construction, real estate, government, not-for-profits, wealth management, succession planning and information technology. And we are committed to becoming the trusted advisor of choice for the middle market," said Mr. Fingland.
Putting the merger into perspective, Mr. Fingland commented further, "As the Big Eight consolidated to the Big Five and refocused on large Fortune 500 and international companies, there's been a swell of medium-sized companies looking for new financial advisors. Alone, it would take each of our firms much longer to develop the kind of nationally recognized and specialized expertise this expanding market of substantial family-owned and middle-market companies require. But together, we can more quickly and economically develop and deliver the services clients need to face the challenge of the 21st century. Our merger is a tremendous opportunity for our people and an exciting alternative for companies seeking new advisors."