FORVIS: Merger of equals between BKD & DHG provides new opportunities for global growth

The $1.4 billion merger of BKD and DHG to create FORVIS provides exciting new opportunities for collaboration and growth.

The merger – effective June 1 – brings together more than 5,400 team members across 69 markets in the U.S. plus an international presence to create a top 10 national professional services firm. Named FORVIS to reflect the firm’s forward vision, the new organisation provides a springboard for national growth and greater international collaboration through Praxity. Tom Watson, CEO of the new firm, stepping up from CEO of BKD, says: “As one, we are significantly stronger with an expanded international platform, deep industry intelligence, and greater resources, all driven by our vision that strives to prepare our people and our clients for tomorrow’s needs.”

“Our merger creates a bigger platform for investments in innovative advisory services and products that will help us better collaborate with Praxity member firms to solve their clients’ U.S. needs. We are committed to remaining nimble, providing high quality services and delivering an unmatched client experience in each encounter.”

Being ready for the future is an important feature of the new organisation. Matt Snow, Chair of FORVIS and former CEO of DHG, explains: “Combining our strengths propels us forward to anticipate the needs of tomorrow.”

“As a Praxity member firm, we are committed to enabling global business,” Matt says. “This includes growing in both geographic coverage and the scope of our service offerings so we can continue to address the evolving needs of Praxity firms’ clients. Our new footprint will enable us to serve member firm’s clients and prospects with local teams in most key U.S. markets, while also bringing a coordinated service approach that will enhance the client experience.”

Gateway to global expansion

Ranked number eight in the IPA 400 list of public accounting firms in the U.S., FORVIS has a coast-to-coast presence while also serving clients out of the United Kingdom and the Cayman Islands. As well as deeper industry focus and expanded advisory services, FORVIS aims to provide outstanding career opportunities for its team members, building the foundation required for long-term growth, nationally and internationally.

For clients, this brings greater opportunity for more onsite, personalized attention from professionals, regardless of location. This ability to bring global specialists together on one team to provide deep industry insight not only drives FORVIS but also Praxity as an alliance.

What lies behind the merger?

The introduction of FORVIS is the result of complementary operations, geographies and nearly two centuries of legacy service between BKD and DHG. “For years, both BKD and DHG have built strong reputations as high-value, professional client service firms,” says Tom. “We’ve established complementary geographic footprints and strong capabilities in a range of critical service sectors. Together, as one organization, we will deepen our bench strength even further, allowing us to continue to serve our existing client base while also providing the resources necessary to serve an ever-increasing upstream client base.”

“Our collective talent and similar cultures will translate to tremendous benefits,” Matt Snow, Chair of FORVIS

Matt believes the strengths of the two firms will help clients better navigate the dynamic commercial landscape. “I couldn’t be more thrilled to join forces with BKD. The scale of our combined firms, our collective talent and similar cultures will translate to tremendous benefits for our clients and team members,” Matt says. “Both of our firms have an overlapping industry focus in healthcare, financial services and private equity, coupled with other industry sectors where each legacy firm is individually strong. As one organization, we will be able to bring our capabilities to a broader range of clients, providing more innovative, client-centric services to the market.”

Key benefits

FORVIS provides broader geographic reach, placing experienced talent in several key markets to provide onsite services more efficiently. Other benefits include:

  • Builds scale in key industry areas and client service segments, creating synergies within existing industries and expanding the reach of others to a total of 10 national industry practices.
  • Builds new career development opportunities across industry verticals and geographic locations.
  • Provides the platform, capabilities and infrastructure that will allow the new firm to better capitalize on high-growth opportunities for non-audit related services for upstream clients, including those in the Fortune 1000.
  • Positions the firm as a destination employer with a people-driven culture.

More information Click here to find out more about FORVIS and its people.

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On behalf of Praxity by Ian Lavis thewritingroom