BKD buys $15M firm

Springfield-based BKD LLP announced this morning the purchase of Kiesling Associates LLP, a firm with roughly $15 million in revenue, according to a BKD official.

Kiesling Associates is scheduled to take on the BKD name Dec. 4. The purchase price for the firm with dual headquarters in West Des Moines, Iowa, and Madison, Wisconsin, is undisclosed, said Greg Cole, director of growth and development for BKD.

Cole said Kiesling Associates’s roughly $15 million in 2015 revenue will bring BKD’s revenue to more than $550 million. BKD gains two new offices, including its first in Wisconsin, and 75 employees in the purchase, bringing its workforce to 2,600 working out of 35 offices in 16 states. Kiesling Associates also adds 4,500 clients to BKD’s 65,000, Cole said, noting many of those are helping individuals file income tax returns.

“The combination strengthens BKD’s presence throughout the Midwest and provides Kiesling with additional resources for existing clients as well as enhanced growth opportunities beyond their current niche practice,” said Barry Davis, regional managing partner for BKD’s North Region, in a news release.

Kiesling Associates is known for providing audit, business valuation, consulting, human resources, information technology, investment management and tax services for the communications, electric utilities and professional employer organization industries, according to its website.

The firm did not make Inside Public Accounting’s lists this year of the top 300 certified public accounting firms. However, Kiesling Associates did make the Best of the Best Firms list published by IPA in 2015 with $13.2 million in 2014 revenue.

BKD ranked 12th on IPA’s list of the top 100 largest U.S. accounting firms this year with 2015 revenue of $537.6 million, a 7 percent increase.