Eide Bailly, a Top 20 Firm based in Fargo, North Dakota, is planning to add Raimondo Pettit Group, a firm with three locations in Southern California, effective Oct. 30, 2023.
The deal will add six partners and 55 staff into Eide Bailly and extend Eide Bailly’s footprint in Southern California. RPG has offices in Torrance, Irvine and Long Beach, California. Eide Bailly has over 3,300 staff members, including more than 350 partners, and earned $616 million in annual revenue. The firm ranked No. 19 on Accounting Today‘s 2023 list of the Top 100 Firms. Financial terms of the deal were not disclosed.
“We are thrilled to welcome RPG into Eide Bailly,” said Eide Bailly CEO and managing partner Jeremy Hauk in a statement. “RPG’s rich history and industry depth make them an ideal partner with Eide Bailly. I am excited to see how we can excel as one firm.”
RPG was established in 1992 and provides accounting, audit, tax, business management and financial consulting services.
“Right from the start, it was clear that our companies shared a strong cultural connection,” said RPG managing partner Timothy Pettit in a statement. “Knowing about Eide Bailly’s solid culture, dedicated staff, and ample resources made joining forces appealing to RPG.”
“We’re excited to join Eide Bailly because we have a similar approach to culture and core values,” stated RPG partner, Jacques Welche. “Coming together is a big step for us, showing our dedication to delivering exceptional value to our clients.”
Last month, Eide Bailly announced it was expanding in California and Washington State by adding another firm, Bessolo Haworth, although that deal also does not take effect until late October. Bessolo Haworth has offices in the Los Angeles, San Francisco and Seattle areas.
Eide Bailly is often active on the merger front. In July, Eide Bailly added Spectrum Health Partners, a financial advisory services firm based in Franklin, Tennessee, that focuses on the health care industry and King & Oliason in Seattle. Last year, it merged in Seim Johnson in Omaha, Nebraska, and in 2021, it expanded in Minnesota by adding PWB CPAs & Advisors, a firm based in the Minneapolis-St. Paul area. In 2020, it added Mukai, Greenlee & Co. in Phoenix, HMWC CPAs in Tustin, California, and Platinum Consulting in Fullerton. The latest deal will expand its presence further on the West Coast.
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