The Accounting Firm That Prepares Maywood’s Annual Financial Statements In Merger Talks With Philly-Based ParenteBeard

Screenshot 2014-06-29 at 5.03.43 PMMonday, June 30, 2014 || By Michael Romain 

Baker Tilly Virchow Krause LLP, (Chicago headquarters pictured left; Google Maps),  the accounting firm that has prepared the Village of Maywood’s financial statements for the last several years, has been engaged in merger talks with the Philadelphia-based accounting firm ParenteBeard, according to a report by the Philadelphia Inquirer published June 19.

In an email reply to the paper’s inquiry about the talks, ParenteBeard head Robert Ciaruffoli confirmed that his firm is indeed considering the possibility of joining forces with Chicago-based Baker Tilly.

“We are currently involved in ongoing discussions with Baker Tilly, and we look forward to providing more detailed information as we advance the discussion and planning process, but we are not in a position to share additional information at this time,” said Ciaruffoli, whose confirmation was corroborated by a Baker Tilly spokesperson.

According to Accounting Today, an industry publication, Baker Tilly–which employees more than 1,600– was ranked as the 17th largest accounting firm in the U.S. in 2014, with billings of more than $300 million. ParenteBeard, employs about 1,000 and amassed revenues of $158 million in fiscal year 2014, making it the 24th largest accounting firm in the U.S. Both firms are affiliates of Baker Tilly International, a London-based network of “161 firms operating in 137 countries with combined revenue of $3.4 billion and more than 26,000 people,” according to Baker Tilly’s website.

To read more about the possible merger, click here. VFP

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