BKD has about 45 CPAs and tax advisers in the Springs, and Kiesling’s group of 10 accountants will join the firm here. The Springs is Kiesling’s only Colorado location, said Travis Webb, managing partner for BKD.
In addition to its Colorado office, Kiesling has a presence in Iowa, Nebraska and Wisconsin. The addition grows BKD to 35 offices in 16 states with about 2,600 employees — and more than 270 partners — with more than $550 million in revenue. BKD specializes in consulting to the health care, financial institutions, insurance, manufacturing, nonprofits and real estate industries, as well as providing individual and corporate assurance, tax and accounting services.
But the acquisition also positions BKD to expand its portfolio, Webb said.
“When we look at mergers and acquisitions, we look at the culture of the office,” he said. “And we look at the people who take care of the clients. While we are a larger firm, we only have a small client base in some areas that Kiesling has a lot of. They have a national reputation in telecommunications and rural electric coops. This merger gives them a bigger footprint and is an opportunity for us to develop an area of practice.”
It’s the third merger for the firm that grows its Colorado Springs presence. In 2000, the firm purchased Nygren, Sears & Co. and in 2006, the company purchased the local offices of Grant Thornton, a national accounting firm.
“It’s exciting to grow the office in Colorado Springs,” Webb said. “And while we have a big presence in the Springs, Kiesling did not. I think their managing partner, Dave Aspenson, is looking forward to being a larger part of the community. It’s interesting because they have a large national presence, but they don’t have a large exposure in Colorado Springs. He’s looking forward to being part of the community more.”
The Springs office is the only one affected by the merger, Webb said.