Eide Bailly LLP, a Top 20 Firm based in Fargo, North Dakota, is adding PWB CPAs & Advisors, a firm based in the Minneapolis-St. Paul, Minnesota, area, effective Dec. 6, 2021.
The deal will add two offices to Eide Bailly’s presence in the Twin Cities, one in Bloomington and the other in Plymouth, Minnesota. PWB, short for Peterson Whitaker & Bjork, offers a variety of audit, accounting, tax, consulting and outsourced bookkeeping services.
Financial terms of the deal were not disclosed. Eide Bailly ranked No. 20 on Accounting Today’s 2021 list of the Top 100 Firms. The firm earned $439 million in annual revenue, while PWB earned $7 million. PWB will add five partners and over 50 staff members to Eide Bailly, which has more than 350 partners and 2,500 staff in the U.S. The firm has more than 40 offices in 15 states as well as an office in Mumbai, India.
“PWB is a talented firm that matches our culture and dedication to helping clients grow, thrive and embrace opportunities and innovation,” said Eide Bailly managing partner and CEO Dave Stende in a statement Monday. “We look forward to strengthening our relationships in the Midwest and building new ones.”
PWB managing partner Brian Peterson is looking forward to the opportunities that joining Eide Bailly will bring to his clients and staff. “Our clients will now have direct access to additional expertise and talent in areas such as technology consulting, specialized tax services and more,” he said in a statement. “Businesses need comprehensive solutions in today’s competitive landscape, and Eide Bailly offers this. Additionally, the PWB staff will have new opportunities to grow and specialize, giving us the chance to pursue our passions and provide an enhanced client experience.”
Eide Bailly frequently does mergers and acquisitions, but has been uncharacteristically quiet this year. However, last November, it added
