Sikich to acquire CLA’s federal government practice

Sikich, a Top 30 Firm based in Chicago, has signed an agreement to acquire the federal government practice of CliftonLarsonAllen LLP, a Top 10 Firm, effective Dec. 31. 

The deal will build upon Sikich’s client base of government agencies and contractors, and expand its presence in the Washington, D.C., area. 

Financial terms of the deal were not disclosed. Sikich ranked No. 27 on Accounting Today‘s 2023 list of the Top 100 Firms, and earned $316.42 million in annual revenue. CLA ranked No. 9 on the list, with about $2 billion in annual revenue. Sikich has more than 1,700 employees and 135 partners, while CLA’s federal practice has 70 employees and four principals. They will join Sikich’s D.C office, when the transaction is scheduled to close on Dec. 31.

“The federal government vertical is a priority space for Sikich,” said Steven Koons, Washington, D.C. market expansion and federal government services leader at Sikich, in a statement Thursday. “We’ve been hyper-focused on growing our federal offerings and expertise over the past few years. The addition of CLA’s federal government practice allows us to continue this growth trajectory, adding to our bench of experts, enhancing our market-leading capabilities for federal clients, and providing new opportunities to work with major government entities. I look forward to working with the CLA team to further boost our federal government capabilities and reinforce our position as a thought leader in the market.”

CLA’s federal government practice, based in D.C., provides audit, accounting and assurance services and works with various government agencies and entities, including the U.S. Department of Transportation, the Defense Commissary Agency and the U.S. Nuclear Regulatory Commission.

Sikich entered the Washington, D.C., market in 2019 when it acquired Halt, Buzas & Powell. Last year, the firm strengthened its presence in the federal government market with the acquisition of Cotton & Co. 

Last week, it signed an agreement to acquire the operating assets of Golden Trail Advisers, a wealth management consulting firm based in Burr Ridge, Illinois. Last month, Sikich acquired Thornhill Financial in Northeast Ohio, and in October the firm’s technology practice added a data and analytics offering and acquired Four Leaf LLC in Sacramento, California. Last December, Sikich acquired Vonya Global LLC, a consulting firm in Chicago. Last November, it acquired two other Chicago firms: O’Malley & Kwit, which specializes in taxes, and Accelerated Growth, an accounting, finance and technology consulting firm.