BKD pens another acquisition

Summer appears to be acquisition season for BKD LLP.

The Springfield-based public accounting firm announced this morning plans to purchase Austin, Texas-based Teegardin & Associates CPAs for undisclosed terms. The purchase is slated to close June 1, the same day BKD’s acquisition of Salt Lake City-based Stayner Bates PC is scheduled to finalize, said Anna Larriu, BKD marketing associate. The latter purchase was announced earlier this month.

The pair of acquisitions follows two summer 2018 deals, when BKD bought New York City-based Loeb & Troper LLP and Fort Worth, Texas-based Rylander, Clay & Opitz LLP, according to past Springfield Business Journal reporting.

Larriu said the Teegardin & Associates acquisition would add $2.5 million in revenue to BKD’s roughly $600 million, as of fiscal 2018.

“As the state’s capital and status as one of the top technology and innovation cities in the nation, Austin has been a key target of growth for BKD for several years,” said Tom Watson, new regional managing partner of BKD’s South Region, in the release. “The addition of Teegardin & Associates provides exciting capabilities, broadens our reach and gives BKD a presence in the five largest business markets in Texas.”

Teegardin & Associates’ 12 staff members, including a partner and managing director, will continue to work out of their Austin office. They’ll join around 2,900 BKD employees, including 300 partners.

When the two purchases close June 1, BKD will have 40 offices in 18 states and revenue of around $660 million, according to the release.