Baker Tilly acquires public sector advisory firms Umbaugh and Springsted

17 January 2019 Consulting.us

Chicago-based Baker Tilly Virchow Krause has acquired two public sector municipal advisory firms: Indianapolis-based H.J. Umbaugh and Associates and St. Paul-based Springsted Incorporated. The acquisitions will add nearly 200 team members to Baker Tilly, while creating one of the largest municipal advisory practices in the US.

Baker Tilly is the 13th largest accounting and consulting firm in the US, with about 2,800 employees across over 30 American offices. Its longstanding public sector practice has over 220 professionals serving almost 1,000 government clients. The team provides audit and advisory services to government clients, with offerings spanning from financial forecasting to forensics and enterprise resource planning (ERP).

Baker Tilly has now acquired consulting firms Umbaugh and Springsted to form one of the country’s premiere municipal advisory practices. The two firm have a combined employee count of nearly 200, along with 130 years of combined operating experience. The deal is expected to close this quarter.

“This strategic combination brings together what we believe to be a unique set of resources within a premiere municipal advisory practice,” said Vicki Hellenbrand, Baker Tilly partner and public sector practice leader, said. “We are dedicated to the public sector by serving state and local governmental units and non-profit organizations.”

Baker Tilly acquires public sector advisory firms Umbaugh and Springsted

Indianapolis-based Umbaugh has over 68 years of experience in public finance, supporting local government in the Midwest. The CPA firm provides independent financial guidance to municipalities, schools, libraries, hospitals, and airports – with offerings spanning from cost-of-service analysis to economic development strategies. Umbaugh has over 100 employees across four offices (Indianapolis, IN; Columbus, OH; Mishawaka, IN; and Lansing, MI).

“We are proud of our longstanding reputation for helping community leaders resolve the financial issues they face as they work to improve the quality of life in their communities,” commented Umbaugh Executive Partner Todd Samuelson. “Joining forces with Baker Tilly and Springsted gives us national resources and broader capabilities to expand services to our clients as well as enhance growth and development opportunities for our team members.”

St. Paul, MN–based Springsted has been supporting public and non-profit sector clients with public finance and human capital services for over 60 years. The firm’s public finance services include investment, operational finance, and housing & economic development offerings, while its human capital services encompass executive recruitment, candidate recruitment, compensation advisory, and e-solutions. Springsted has additional offices in Des Moines, Atlanta, Kansas City, Dallas, Milwaukee, Denver, and Richmond.

“We look forward to continuing to provide highly personalized financial, management and human resources advisory solutions that address the unique needs of today’s communities,” remarked Springsted President Kathleen Aho. “There is a strong cultural alignment between Springsted, Umbaugh and Baker Tilly. Each firm is progressive and entrepreneurial with complementary skillsets and a shared focus on people and commitment to excellent client service.”

“This combination gives us a wider platform and more delivery channels to better serve our clients and enhances professional growth opportunities for our team members,” Aho concluded.