Eide Bailly Acquires Three Firms

Over the past couple of days, Eide Bailly LLP has announced three acquisitions: Keller, Young & Grover (KYG), LLP, Boise, Magee Rausch & Shelton LLP, Tulsa and Gordon, Hughes & Banks, LLP, (GHB), Golden, Colorado.

The acquisitions bring Eide Bailly up to 1,200 staffers, including 157 partners, serving 39,000 clients. The firm’s total revenues for fiscal year ended April 30, 2008, were $114 million.

MRS will add three partners, Tim Roberts, Dan Cunningham and Tom Ritchie, as well as 26 staff members and $3.5 million of revenue to Eide Bailly.

“Our growth plan for Oklahoma included expansion in both Oklahoma City and Tulsa,” said Jerry Topp, managing partner/CEO of Eide Bailly. “Just three months ago, Murrell, Hall, McIntosh joined our Firm, expanding our Oklahoma City and Norman presence.”

Steve Corley, partner-in-charge of Eide Bailly’s Oklahoma practice, says the two firms both serve clients in oil and gas, non-profits, financial institutions, health care and manufacturing. By combining, Eide will attract larger companies who previously looked beyond Oklahoma for help with their business needs, Topp says.

In Colorado, acquiring GHB fits well with Eide Bailly’s plan to expand westward, Topp says. The two firms serve several similar industries, including real estate, construction, oil and gas, non-profits, government and SEC clients.

“Our entry into Colorado also gives us the opportunity to expand some of Eide Bailly’s largest practice areas, including health care, financial institutions (banks and credit unions) and insurance, into a new market,” Topp says.

GHB has offices in Golden, Denver, Grand Junction, Boulder, Summit County, and Vail Valley.

James Lyons will serve as the partner-in-charge of the Colorado practice, and partners joining Eide Bailly include Penelope Banks, James Boak, Sheryl Brake, Brian Callahan, Dave DeZutter, Bob Drury, Thomas Froehle, Kim Higgins, Rex Hughes, Peggy Jennings, Celia Johnson, Richard Kendall, Lloyd Sweet and Eric Budreau.KYG’s Julie Hawkins, Bill Keller and Jim Young will be partners at Eide Bailly.

In addition to the new offices, Eide Bailly has offices in Phoenix, Arizona; Frisco, Colorado; Dubuque, Iowa; Madelia, Mankato and Minneapolis, Minnesota; Billings, Montana; Fargo and Bismarck, North Dakota and Sioux Falls and Aberdeen, South Dakota.