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As a part of this transaction, the agency will probably be restructured as two entities: Baker Tilly Advisory Group, LP will present the agency’s enterprise advisory, tax and different companies with Jeff Ferro persevering with in his function as CEO. Baker Tilly US, LLP, a licensed CPA agency, will present the agency’s attest companies, with Jere Shawver, Managing Accomplice – Danger and Assurance, getting into the brand new function of CEO. Baker Tilly US, LLP will function as a separate authorized entity pursuant to regulatory and independence necessities. Following the restructuring, each corporations will stay partnerships, with all companions holding fairness alongside H&F and Valeas in Baker Tilly Advisory Group, LP.
“We’re extraordinarily proud to affix forces with H&F and Valeas, blue-chip and growth-oriented non-public fairness buyers, who help our imaginative and prescient, acknowledge the worth we have already created and see our huge future potential,” stated Ferro. “With this transaction, the agency will probably be in a fair stronger place to develop and put money into our enterprise to create new alternatives for our gifted staff members and valued purchasers.”
“Our funding in Baker Tilly builds on H&F’s lengthy historical past of profitable partnerships within the skilled companies sector. Baker Tilly has constructed a outstanding agency with an empowering tradition, tremendously gifted workforce, and spectacular observe file of progress by means of excellent consumer service and sensible acquisitions,” stated Blake Kleinman, Accomplice at H&F. “We’re excited to take a position alongside Baker Tilly’s companions and senior management to bolster its capabilities, broaden its footprint, and, collectively, assist construct the nation’s preeminent mid-market advisory CPA agency.”
“As a high international model in accounting, tax and advisory with a powerful observe file of worth creation and progress, Baker Tilly is uniquely positioned to steer the transformation of the trade,” stated Ed Woiteshek, Co-Founder and Managing Accomplice, Valeas. “We sit up for working with Baker Tilly’s leaders to additional the agency’s spectacular progress trajectory within the years forward.”
Baker Tilly engaged William Blair & Firm, L.L.C. as its monetary advisor and Foley & Lardner LLP as its authorized counsel on this transaction. Simpson Thacher & Bartlett LLP and Vedder Value PC served as authorized advisors to H&F and Ropes & Grey LLP suggested Valeas.
SOURCE: Baker Tilly US
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