BDO Acquires Smith & Gesteland, LLP

BDO USA, LLP, one of the nation’s leading accounting and advisory firms, is expanding its Wisconsin practice through the addition of 85 staff, including 15 partners, from Smith & Gesteland, LLP.

Founded in 1948, Smith & Gesteland (S&G) provides a full range of accounting, tax, human resource management and information technology services to a client base of middle market businesses. The firm, based in Madison, also has a unique “80/20” consulting practice that helps clients focus on critical success factors to enhance profitability. S&G has significant strength in the construction, technology, manufacturing, nonprofit and real estate industries. Combined with BDO’s existing offices in Madison and Milwaukee, BDO will have 185 professionals serving Wisconsin clients. The combination of BDO and Smith & Gesteland is subject to customary closing conditions and is expected to be completed on July 1, 2018.

“I look forward to welcoming all of the partners and professionals of Smith & Gesteland to BDO USA. 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. “S&G’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.”

“In combining with BDO, we will form the leading firm serving middle market businesses in the Madison market, while providing both our clients and our people with additional opportunities for growth,” said Bill Pellino, Managing Partner of S&G. “Our clients will still receive the same close personal attention they have come to expect from our team, but now they will have access to a wider array of services, broader industry experience, and the full coverage of BDO’s extensive global network. BDO has a team-oriented, collaborative culture, similar to our own. The firm’s reputation as a favorable workplace also fits well with our focus on our people, who will now have access to more training and many more opportunities to pursue career growth.”

Upon completion of the transaction, Bill Pellino will serve as the Tax Managing Partner for BDO’s Wisconsin Practice and Dan Kramer will continue in his existing role as BDO’s Assurance Managing Partner for Wisconsin. BDO will maintain its Milwaukee office and its current Madison location along with the new Madison (Middleton) practice. The two Madison offices, which are only blocks apart, will eventually be combined into one location. See current contact information below

“In all my years of consulting in the Wisconsin market, I cannot recall a firm more sought after by both national and regional suitors than S&G,” said Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the transaction. “In the end, S&G felt BDO’s culture – very similar to their own – was the right fit. They also valued the depth of resources BDO can provide their clients and the growth opportunities it provides their associates. BDO really valued S&G’s strong leadership and depth of talent.”

Smith & Gesteland has been voted the top CPA firm in Madison by In Business Magazine for 13 consecutive years. Like BDO USA, S&G has been recognized by numerous business and industry publications for its workplace accomplishments. The firm was recently named as one of Madison Magazine’s Best Places to Work and recognized by Accounting Today as one of the nation’s Best Accounting Firms to Work for.

BDO USA has 185 staff serving Wisconsin businesses from offices in Madison, Middleton and Milwaukee.

Over the past five years, BDO USA’s cumulative growth rate has far outpaced all other major U.S. accounting firms, with revenues more than doubling from $618 million in 2012 to $1.41 billion in 2017. During that time, BDO entered 24 new U.S. cities and expanded its critical mass in 13 existing markets.
BDO USA has industry practices specialized in serving businesses in the construction, energy, financial institutions, asset management, government contracting, healthcare, insurance, manufacturing, nonprofit, private equity, real estate, restaurant, retail and technology sectors.

BDO represents companies ranging from closely-held private businesses to leading nonprofits to Fortune 500 multinationals.

BDO has been named a Best Company by Working Mother Magazine for seven consecutive years and been recognized with the When Work Works Award for Business Excellence in Workplace Flexibility for eight consecutive years.
BDO has more than 60 offices and more than 550 independent alliance firm locations around the country.
BDO USA has been serving clients for more than 100 years since its founding in 1910 (as Seidman & Seidman).
As an independent member of BDO International Limited, the firm can leverage the resources of more than more than 73,000 people working out of 1,500 offices across 162 countries.