BKD merges with three Mississippi firms

BKD, a national CPA and advisory firm, will pick up about $10 million in annual revenues and about 70 personnel, including 12 partners, when it combines with Smith, Turner & Reeves PA; Johnson, Bruce & Host PLLC; and Shearer, Taylor & Co. PA. The merger creates the second largest CPA and advisory firm in Jackson and the third-largest in Mississippi, and it expands BKD’s southern reach, according to BKD Managing Partner Neal Spencer.

“Because it’s contiguous with the current BKD footprint, Mississippi is a state we’ve always paid attention to,” Spencer said.

He said that the firm handled the merger internally with ST&R Managing Partner Jon C. Turner, JB&H Managing Member Peder R. Johnson and ST&C Managing Shareholder J. Robert Shearer. Turner and Johnson will be BKD’s co-partners in charge of the company’s Mississippi operations.

Spencer added that no money is changing hands in the merger.

“It’s strictly joining our firms,” he said. “They’ll adopt our philosophies, policies and procedures, which they believe will enhance their earnings and reputation over the long haul.”

ST&R primarily serves the telecommunications, health care, financial services, not-for-profit, government and manufacturing industries.

he company brings annual revenues of about $5 million, about 40 personnel and two offices in Jackson and Oxford, Miss.; its Natchez, Miss., office is not included in the transaction.

JB&H has about $2.3 million in annual revenues and a staff of about 18. The firm focuses on the manufacturing, real estate and health care sectors.

ST&C brings a staff of 13 and annual revenues of about $2.3 million. It serves 40 community-based financial institutions and several of Mississippi’s largest banks.

Spencer said that even with the additional employees, BKD will not move from its spot as the 10th-largest CPA firm in the country, as ranked by Inside Public Accounting.

“The gap between No. 9 and No. 10 is fairly large, and it will take a number of years to bridge that gap,” Spencer said. “This does widen the gap between No. 10 and No. 11 a bit.”

BKD has net annual revenues of $318 million and approximately 1,900 personnel, including 230 partners, in 27 offices in 11 states: Arkansas, Colorado, Illinois, Indiana, Kansas, Kentucky, Missouri, Nebraska, Ohio, Oklahoma and Texas.

This summer, work is expected to begin on BKD’s new headquarters at John Q. Hammons Parkway and St. Louis Street in downtown Springfield. Spencer said Kansas City-based developer Opus Northwest plans to break ground on the project in July.

Top 10 U.S. CPA Firms

1. Deloitte & Touche, New York - $9.86 billion

2. PricewaterhouseCoopers, New York - $6.92 billion

3. Ernst & Young, New York - $6.89 billion

4. KPMG, New York - $4.44 billion

5. RSM McGladrey, Minneapolis - $1.39 billion

6. Grant Thornton, Chicago - $940 million

7. BDO Seidman, Chicago - $589 million

8. CBIZ & Mayer Hoffman, Cleveland - $467 million

9. Crowe Group, Oakbrook Terrace, Ill. - $430 million

10. BKD LLP, Springfield - $318 million

Source: Inside Public Accounting, August 2007[[In-content Ad]]