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BKD pens acquisition, launches new practice

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Last edited 2:48 p.m., Jan. 18, 2018

Springfield-based BKD LLP in recent days separately announced an acquisition and the creation of a new practice within the firm.

Texas takeover
BKD announced yesterday its purchase of Harper & Pearson Co. PC's financial institution practice.

The purchase price for the Houston, Texas-based certified public accounting firm's division was not disclosed in a news release.

BKD’s purchase of the Harper & Pearson unit expands an already firm hold in the Texas city. According to the Houston Business Journal's Book of Lists, BKD is the eighth-largest accounting firm in the market, officials with the Springfield company say.

“They have a strong reputation and will help us to expand our footprint in Texas,” BKD Houston Managing Partner Kimberly McKay said in the release. “As the financial institution industry continues to experience consolidation, we believe the strength of the combined teams will better position us to serve our clients.”

The buyout also brings on an undisclosed number of new employees and clients, according to the release.

The acquisition is the first this year for BKD. Most recently, it purchased Denver-based Paragon Audit & Consulting Inc. in May 2017.

BKD posted 2017 revenue of $564 million from operations of 36 offices in 16 states, according to the release.

On Inside Public Accounting’s 2017 list of the top U.S. firms, BKD held its No. 12 ranking for the fourth year in a row with 2016 revenue of $564.4 million.

Tax hire
BKD on Jan. 15 brought on a director to lead the company’s newly formed tax controversy practice, according to a separate news release.

A tax attorney with more than 18 years of experience, Kim Jones is in charge of a practice that helps “taxpayers identify and mitigate tax risk and successfully resolve challenges from various tax authorities,” said Jesse Palmer, BKD’s director of tax quality control.

“With the shift in IRS exam resources toward middle-market businesses and increased potential for penalties and interest, the expansion of BKD’s tax controversy expertise and the addition of Kim Jones will enable BKD to focus effectively on these issues,” Palmer said in the release.

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