A Chicago-based professional services company is expanding its presence in Wisconsin with the purchase of a Middleton accounting firm.
BDO USA announced Monday it had acquired Smith & Gesteland, which offers accounting, tax, human resource management and information technology services to businesses.
All 85 Smith & Gesteland staff members and partners were included in the purchase.
“Our firm has demonstrated steady growth in the Madison market and this combination will greatly enhance our presence in both Madison and the greater Wisconsin market,” said Wayne Berson, CEO of BDO USA.
“(Smith & Gesteland’s) entrepreneurial culture is a natural fit with BDO. They bring significant resources to our existing industry strengths in real estate, nonprofit, manufacturing, construction and especially technology, where we will be the dominant firm in the market.”
With the purchase of Smith & Gesteland, BDO now has 185 employees to serve Wisconsin clients. BDO has offices in Madison and Milwaukee.
The Middleton Smith & Gesteland and Madison BDO locations will eventually be combined into a single office.
Terms of the sale weren’t disclosed. It is scheduled to be completed July 1.
Smith & Gesteland was founded in 1948.
BDO has more than 60 offices and 550 “independent alliance firms” around the country that provide assurance, tax and advisory services to companies.