Eide Bailly, a Top 25 Firm formerly based in Fargo, North Dakota, is adding Apple Growth Partners, expanding the firm's footprint to Ohio, effective June 24, 2024.
The deal will bring Eide Bailly its first office east of the Mississippi and marks the second largest acquisition in the firm's history.
Financial terms of the deal were not disclosed. Eide Bailly ranked No. 20 on Accounting Today's 2024 list of the Top 100 Firms, with $616.5 million in annual revenue, 365 partners and approximately 3,700 staff members. The AGP deal will add about 150 staff members, increasing the total to close to 3,800.
The merger will add 24 partners and 125 staff to Eide Bailly and expand the firm's footprint in the Great Lakes region with offices in Akron, Cleveland and Canton, Ohio; Schaumburg, Illinois; and Charlotte, North Carolina.
"AGP has a strong workplace culture and a commitment to authenticity, exceptional service, and taking care of each other," said Eide Bailly managing partner and CEO Jeremy Hauk in a statement Friday. "It was evident from our initial meeting with the AGP leadership that they would be a great addition. We both talked about culture, our people, and our clients. We could tell immediately that both firms really meant what we said and would be a great fit."
AGP executives felt the need to grow beyond the Great Lakes region. "Our goals have not changed, but the world has," said AGP chairman Chuck Mullen in a statement. "Staying a regional firm would not allow us to remain competitive, and our employees and clients deserve the best. Joining forces with Eide Bailly was an easy decision because we share the same values, especially in how we take care of each other and our clients."
Last year, Eide Bailly added
