BKD expands into Arizona

Top 15 Firm BKD CPAs & Advisors announced that it has acquired Mesa, Arizona-based Schmidt Westergard.

The combination, which was effective January 16, gives BKD a strong presence in the Phoenix market.

“We carefully look for firms that are a strong strategic and cultural fit when making such moves,” BKD CEO Tom Watson said in a statement. “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.”

Financial terms of the deal were not disclosed. BKD ranked No. 14 on Accounting Today’s 2021 Top 100 Firms list, and reports $758 million in revenue; Schmidt Westergard’s most recent revenue figure was approximately $6 million.

The deal adds four partners, one managing director and approximately 30 staff to BKD’s approximately 3,300 employees, while Schmidt Westergard managing partner Lynn Westergard will serve as BKD’s market leader in Phoenix.

“This partnership reflects our commitment to provide enhanced and rewarding career opportunities for our team members and our passion for better serving our clients,” Westergard said in a statement. “We closely identify with BKD’s culture, core values and philosophy of providing ‘Unmatched Client Service.’ By joining forces, we also gain access to new and exciting solutions for our clients and BKD’s national presence in our niche industries.”

One of the top 15 firms in the Phoenix area, Schmidt Westergard was established in 1968, and provides tax, audit, accounting and business advisory services.