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Springfield-based BKD now has 41 offices in 19 states.
SBJ file
Springfield-based BKD now has 41 offices in 19 states.

BKD expands to new state with acquisition

Posted online

Springfield-based public accounting firm BKD LLP is now operating in Arizona through an acquisition.

The company yesterday closed on the purchase of Phoenix-based Schmidt Westergard. The financial terms were undisclosed in a news release.

"Arizona has long been a target for BKD, and I’m confident the team at Schmidt Westergard is the right fit as we grow once again," BKD CEO Tom Watson said in the release. "BKD is intentional about growing wisely, so we carefully look for firms that are a strong strategic and cultural fit when making such moves."

With the acquisition, BKD adds four partners, one managing director and roughly 30 staff members. Lynn Westergard, Schmidt Westergrad's managing partner, will lead BKD's Phoenix market.

BKD's governing board viewed Phoenix as a key strategic expansion market due to its size as the 11th-largest U.S. metropolitan area, according to the release. BKD now has 41 offices in 19 states.

The company last year bought Strategic Sourcing Results in Chicago and Hamernik LLC in Indiana.

Watson said in a September interview with Springfield Business Journal that BKD is targeting the southeast United States for geographic expansion.

At the end of 2021, an annual Forbes list named BKD among the nation's best accounting firms. The company previously reported roughly $758 million in fiscal 2021 revenue.

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