M&A roundup: Baker Tilly, Blue and AAB expand


Details: Baker Tilly said Tuesday it intends to acquire The Compliance Group, a nationwide mortgage compliance and quality control organization based in Carlsbad, California, effective Dec. 6, 2021.

TCG helps mortgage lenders with regulatory compliance and risk management services. The deal will open a new practice area for Baker Tilly in the mortgage market, and the firm plans to create a mortgage lending center of excellence.

“In the hot U.S. mortgage lending market, we provide the regulatory compliance and risk management, along with digital technology, necessary to support our clients from all angles — keeping them agile in a quickly evolving environment,” said Christine Fenske, managing partner of Baker Tilly’s financial services practice, in a statement.

Financial terms of the deal were not disclosed. Baker Tilly ranked No. 12 on Accounting Today’s 2021 list of the Top 100 Firms. The firm’s annual revenue as of May 31, 2021 was $1 billion, across consulting, tax and assurance services. The Compliance Group’s revenue as of Dec. 31, 2020 was $11.3 million. Baker Tilly has 4,600 professionals, including 450 partners. The Compliance Group has 110 professionals, including three partners.TCG’s 110-person remotely located team will join Baker Tilly as part of the deal.

“Baker Tilly brings TCG clients significantly more resources and capabilities coast-to-coast,” TCG CEO Annemaria Allen said in a statement. “We chose to join forces with Baker Tilly because of their vision and strategy and the opportunities we now have to create even more value for our clients and employees.”

Last week, Baker Tilly announced that it plans to acquire the MFA Companies, a Boston-based accounting and advisory firm, effective Dec. 2, 2021. Earlier this fall, Baker Tilly acquired Arnett Carbis Toothman LLP in West Virginia, effective Nov. 1, as well as acquiring AcctTwo, a Houston-based technology and services company. Earlier in the year, it announced it was acquiring Margolin, Winer & Evens, a Regional Leader firm in New York, effective Nov. 1. Last year, it acquired Squar Milner and Brown Adams Agbayani in California, as well as Talavant, a data analytics firm in Madison, Wisconsin.

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