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Baker Tilly Virchow Krause, LLP and ParenteBeard LLC Announce Merger

September 3, 2014



Combined firm further strengthens presence in Northeast Corridor, bolsters industry and service specialization strategy

CHICAGO & PHILADELPHIA--(BUSINESS WIRE)-- Accounting and advisory firms Baker Tilly Virchow Krause, LLP (Baker Tilly) and ParenteBeard LLC today announced the merger of the two firms, with an anticipated effective date of October 1, 2014. The name of the combined firm will be Baker Tilly Virchow Krause, LLP.

“As independent members of Baker Tilly International, our two firms have worked collaboratively and successfully for many years and on many fronts,” said Baker Tilly Chairman and Chief Executive Officer Timothy L. Christen. “This merger is an opportunity for two successful, complementary firms to join forces and create even greater opportunities for our people while broadening our geographic footprint and deepening our industry and service specialization capabilities to better serve our clients as Valued Business Advisors.”

A combined Baker Tilly/ParenteBeard will further expand and strengthen the firm’s presence in the Northeast Corridor with a physical presence from the financial capital of the world (New York) to America’s capital (DC), serving financial, manufacturing, real estate, technology, commercial and governmental clients and helping to build the Baker Tilly brand in important markets from Pittsburgh to Philadelphia to New York.

“ParenteBeard and Baker Tilly share a common culture and values that emphasize a dedication to Exceptional Client Service and creating opportunities for our people to grow and develop in their careers,” said ParenteBeard Chairman and Chief Executive Officer Robert J. Ciaruffoli. “Our clients will benefit from even deeper industry knowledge and resources, as well as a broader depth of talent to deliver customized solutions to help them solve their business challenges.”

The combined firm will employ approximately 2,500 professionals across 29 cities in the U.S., with total annual revenue of $475 million – making Baker Tilly one of the 12 largest professional services firms in the country.

About Baker Tilly Virchow Krause, LLP (bakertilly.com)

With more than 1,700 employees, Baker Tilly Virchow Krause, LLP (Baker Tilly) provides a wide range of accounting, tax and advisory services. Ranked as one of the 20 largest firms in the United States by Accounting Today (“Top 100 Firms” 2014), Baker Tilly is headquartered in Chicago and serves clients from across the United States. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 137 countries, with 27,000 professionals. The combined worldwide revenue of independent member firms is $3.4 billion.

About ParenteBeard LLC (parentebeard.com)

ParenteBeard is ranked among the top 25 accounting firms in the U.S. With more than 800 professionals, the firm is a leader in providing CPA and business advisory services to small businesses, middle market companies, nonprofits and SEC registrants. As an independent member of Baker Tilly International, ParenteBeard is proud to provide the highest level of service to clients nationally and internationally.



Baker Tilly Virchow Krause, LLP

David Pendery, 612-876-4586

david.pendery@bakertilly.com

Source: Baker Tilly Virchow Krause, LLP


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