Hellman & Friedman backs Baker Tilly

CPA firm Baker Tilly US, LLP announced a major investment from Hellman & Friedman and Valeas Capital Partners, set to close in early June 2024. This marks the largest private equity investment in the US CPA industry, acknowledging Baker Tilly’s success in creating value. Over the past five years, Baker Tilly has significantly grown, doubling its workforce and expanding both in the US and internationally, establishing itself among the top 10 advisory CPA firms in the country.

The investment from Hellman & Friedman and Valeas will provide Baker Tilly with more resources to boost growth, focusing on attracting talent, enhancing technology, and making strategic acquisitions to improve client services.

Following the investment, Baker Tilly will reorganize into two separate entities. Baker Tilly Advisory Group, LP, led by CEO Jeff Ferro, will offer advisory, tax, and other services. Baker Tilly US, LLP, focusing on attest services, will be led by Jere Shawver as CEO, becoming a separate entity to meet regulatory standards. Both will continue as partnerships, with partners and the investors holding equity in Baker Tilly Advisory Group, LP.