Investing.com -- Baker Tilly and Moss Adams have announced their intention to combine, creating the sixth largest advisory Certified Public Accountant (CPA) firm in the United States. This move, expected to be finalized in early June this year, will increase the firms’ industry specialization, extend their geographic reach, and enhance their capabilities across advisory, tax, and assurance services.

The two firms, both having complementary strengths and a mutual commitment to client success, will merge under the Baker Tilly name. This will form a leading firm designed to help middle-market businesses navigate an increasingly complex environment. Jeff Ferro (NYSE: FOE ), the current CEO of Baker Tilly, will continue as CEO of the merged firm until his retirement. Eric Miles, the current CEO of Moss Adams, has been named as the CEO-elect and will take over the CEO role on January 1, 2026. After this date, Ferro will remain a director on Baker Tilly’s board.

As part of the deal, private equity firm Hellman & Friedman (H&F), which is an existing investor in Baker Tilly, will make an additional strategic investment in the business. Valeas Capital Partners (Valeas), an existing shareholder, will also increase its investment. After the deal’s closure, the audit businesses of Moss Adams and Baker Tilly will combine to form Baker Tilly US, LLP, and the firms’ business advisory, tax, and other services will merge under Baker Tilly Advisory Group, LP (BTAG). Both entities will continue as partnerships, with all principals holding equity alongside H&F and Valeas in BTAG.

Both Baker Tilly and Moss Adams have a century-old history and a commitment to fostering a people-first culture. This commitment to their people and delivering for middle-market clients will be strengthened as they combine forces. The merger is seen as a step forward for the middle market, as the combined firm will be able to provide greater expertise, resources, and insights.

The legal advisors for Baker Tilly in this transaction are Simpson Thacher & Bartlett LLP and Vedder Price PC, while Deutsche Bank Securities Inc. served as financial advisor and Dechert LLP as legal advisor to Moss Adams.

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