RGL Forensics acquisition closes, rebranded as Baker Tilly in US

05 December 2018 Consulting.us

Chicago-based accounting and consulting firm Baker Tilly Virchow Krause completed its acquisition of Denver-based consultancy RGL Forensics on December 1. The firm’s UK offices will rebrand as BTVK Advisory, while the rest of the RGL’s operations will become Baker Tilly.

In August, Chicago-based Baker Tilly Virchow Krause, LLP (doing business as Baker Tilly) – the US member of global accounting and consulting network Baker Tilly International – announced that it was acquiring RGL Forensics. On December 1st, the transaction closed.

Founded twenty years ago, Denver-based RGL Forensics was a financial investigations consultancy focusing on the insurance, legal, and corporate markets. RGL’s cross-sector team of experts conducted in-depth investigations to determine what happened, the financial outcomes, and quantified economic damages. With 175 employees and offices across five continents, RGL was one of the largest specialist forensic accounting firms in the world.

Baker Tilly acquired the firm because the demand for forensic accounting services is increasing globally. The transaction enhances Baker Tilly’s ability to offer clients forensic, litigation, and valuations services, while also expanding its presence into the UK, Germany, Australia, Chile, Singapore, and the UAE.

Prior to acquiring RGL, Baker Tilly had about 2,800 employees across 33 US offices. The 13th largest accounting and consulting firm in the country, Baker Tilly posted revenues of $546 million in 2017.

With the close of the transaction, the firm announced that it would be rebranding all of RGL’s offices, except in the UK, to Baker Tilly. In the UK, RGL will rebrand to BTVK Advisory LLP – remaining one of the largest financial investigations-focused consultancies in Britain. BTVK Advisory will continue to work alongside the rest of the former RGL worldwide team.RGL Forensics acquisition closes, rebranded as Baker Tilly in US“We are proud to be the first firm with a global presence focused solely on forensic accounting to join with Baker Tilly," said Angela MacPhee, partner and head of the Global Forensics practice at Baker Tilly Virchow Krause and former CEO of RGL. "This is an affirmation of the growing importance of financial investigation practitioners. Being part of Baker Tilly Virchow Krause gives us critical mass and access to an even larger international network. We now have greater resources to invest in ensuring future-focused agility and longevity."

BTVK Advisory Partner Keith Tuffin added, “As a Baker Tilly Virchow Krause company, we look forward to serving our clients with a wider platform and a larger number of delivery channels. We will continue to deliver outstanding service to our clients with access to a greater number of industry experts with the local knowledge needed to conduct our investigations.”

A new brand day

Earlier this week, Baker Tilly also announced a refreshed brand identity alongside the Baker Tilly International Network. The bird in the old logo is gone, replaced by a widening gyre (turning and turning); and the formerly all-uppercase letters are now a more ‘approachable’ lowercase.

Centrally, the brand refresh is part of a global brand unification strategy led by Baker Tilly International – who wants to present a more cohesive global network. As such, the differently-named member firms of the network in 130 territories will unify under the trade name of Baker Tilly by January 2019.

“A strong brand creates awareness; a global brand does even more – conveying a reliable and trusted reputation anywhere in the world,” said Baker Tilly Chairman and CEO Alan D. Whitman. “As our firm and global network have grown, so have the needs of our clients. The redefined brand demonstrates the significant role we play in helping clients anticipate and navigate complex change, increasingly across borders.”

The rebrand arrives in the wake of a number of consultancy refreshes this fall, including Boston Consulting Group and Marks Paneth.

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OneDigital buys Northwestern Benefit in company's largest acquisition yet

11 April 2019 Consulting.us

Human resources and benefits consultancy OneDigital Health and Benefits has acquired Northwestern Benefit, the largest privately held benefits broker in Georgia.

Atlanta-based OneDigital has carried out an aggressive acquisition strategy in past years, completing 28 deals in 2018, as well as five in 2019 thus far. Its recent acquisitions have included consulting firms Paradigm Group, Cherry Creek Benefits, and Veritas Risk Services. OneDigital’s rapid expansion last year boosted annual revenue by $100 million in 2018, reaching $400 million.

OneDigital’s core offerings include strategic benefit advisory services, analytics, compliance support, human resources management technology, and insurance broking. The firm has more than 80 offices in the United States.

The consulting firm has continued its accelerated growth strategy with the purchase of benefits and HR consultancy Northwestern Benefit, which is also based in Atlanta. “This represents an exciting milestone for OneDigital, where our largest acquisition to date is also located right here in our home state of Georgia,” Adam Bruckman, CEO of OneDigital, said. “Northwestern lets us compete in the Atlanta benefits marketplace in an entirely new way.”OneDigital buys Northwestern Benefit in company's largest acquisition yetThe acquired firm was founded in 1996, and provides benefits, HR, compliance, wellness, education, and workforce planning advisory services to clients in George and across the US. Northwestern Benefit’s 150 employees will join OneDigital, bringing the firm’s headcount to over 1,600 employees, and its employer client count to approximately 50,000.

OneDigital’s chief growth officer, Mike Sullivan, highlighted Northwestern’s excellent sales culture and client service models as factors in the deal, while noting that the deal will significantly expand the firm’s middle market scale and capabilities. Sullivan expects more deals on the horizon, as OneDigital seeks to scale up further. “We expect north of 25 acquisitions again this year to bring us over the $500 million revenue threshold,” he said.

David Asbury, CEO of Northwestern Benefit, will join OneDigital as a senior managing principal. “As the benefits space continued to consolidate and we considered acquirers, it was incredibly important to me to find the right partner,” he said. “With OneDigital’s scale, reach and long-term vision, we knew our organizations would fit together and be stronger together right off the bat.”

As employment levels remain at record highs, employers are increasingly turning to effective and comprehensive benefits packages in order to attract and retain a dwindling pool of talent. HR and benefits firms help employers strategize the ideal benefits and compensation packages to get the talent they need, while doing so in the most cost-effective manner. “In a rapidly changing economy, an employer’s ability to attract and retain talent is often directly tied to the benefits they can provide, and OneDigital ensures we’re supplying our clients with the most robust health, wealth, and HR advisory services,” Bruckman said.