Jan 6th 2012
On January 6, 2012, Eide Bailly LLP and Wipfli LLP, two accounting and consulting firms that are among the largest in the country, announced their plans to merge. Pending regulatory approval, the merger will be official June 1, 2012.
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In a joint statement, Jerry Topp, Managing Partner/CEO of Eide Bailey, and Rick Dreher, Managing Partner/CEO of Wipfli, said, "Together, our firms will have the depth of resources necessary to help our clients meet their future challenges and leverage future opportunities. We are excited about what this merger will mean for our clients, our associates, and our partners."
The combined firm will be named EB Wipfli LLP and will rank among the nation's top fifteen accounting firms. More than 70,000 clients from forty-one offices in the United States and two offices in India will be served. EB Wipfli will provide a range of audit, tax, accounting, consulting, and professional advisory services to public and private companies.
"Both firms were looking to expand their geography and services," said Dreher. "The combined firm has more resources and the economics to allow us to do that. That's a big part of why we're so excited about the combination. We get some industry niches that we don't have, and they get some services they don't have. The combination makes a ton of sense."
Topp, who will serve as chairman of EB Wipfli, said, "We are proud to join forces with a firm of similar size, scope, culture, and service philosophy." He added that both firms are "committed to offering their clients top-quality service and customized solutions to help them thrive."
"We have forged mutual respect and a strong relationship with Eide Bailly over the years," said Dreher, who will serve as the managing partner/CEO of the merged firm. "[We] feel this is an outstanding opportunity to combine our collective talents and strengths to enhance the value we bring to our clients, associates, and the communities we serve."
EB Wipfli will consist of 2,327 associates, including 301 partners. Its national wealth management practice will rank as one of the largest in the accounting profession, with nearly $3 billion in assets under management.