What's Happening?
Dixon Hughes Goodman (DHG) and BKD have announced a merger to create a new, top-10 national professional services firm, effective June 1. This merger combines the strengths of both firms, resulting in a firm with
over 5,400 team members across 68 markets in 27 states, as well as in the United Kingdom and the Cayman Islands. The merger aims to leverage the best attributes of both firms to provide a future-focused firm that prioritizes people and offers an unmatched client experience. The new firm will have a revenue of $1.4 billion and will be positioned to deliver outstanding opportunities for team members and clients.
Why It's Important?
The merger between DHG and BKD is significant as it creates a major player in the professional services industry, enhancing the firm's ability to serve larger private and Fortune 1000 advisory clients. The expanded geographic reach and increased resources will allow the firm to provide more efficient onsite services and broaden its service offerings. This merger positions the firm for continued growth and improves its national market recognition, supporting the growth of non-audit related services. The merger also creates new career development opportunities across industry verticals and geographic locations, making the firm a destination employer with a people-driven culture.
What's Next?
Following the merger, the new firm will focus on integrating the operations and cultures of DHG and BKD to create a cohesive organization. The firm will aim to capitalize on the synergies created by the merger to expand its service offerings and client base. The firm will also focus on enhancing its market presence and reputation as a top-10 national professional services firm. Stakeholders, including clients and employees, can expect improved service delivery and career opportunities as the firm leverages its expanded resources and capabilities.
Beyond the Headlines
The merger of DHG and BKD highlights a trend in the professional services industry towards consolidation to achieve greater scale and competitiveness. This merger reflects the increasing importance of having a broad geographic reach and diverse service offerings to meet the evolving needs of clients. The merger also underscores the value of a people-driven culture in attracting and retaining top talent in a competitive industry. As the new firm establishes itself, it will need to navigate the challenges of integrating two established organizations while maintaining its commitment to client service and employee development.
