Accounting Firm Sikich Acquires Knutte & Associates

The accounting and professional services firm Sikich has acquired the practice of Knutte & Associates, a Darien, Illinois-based audit, accounting and tax firm.

“The addition of the Knutte & Associates team adds strength to our audit, accounting and tax teams,” Sikich CEO Chris Geier said. “Our clients will especially benefit from their specialized expertise on auditing issues in the government, education and not-for-profit sectors.”

Founded in 1973 by J. Michael Knutte, Knutte & Associates specializes in completing student financial assistance (Title IV) compliance audits for educational institutions, as well as audits for governmental entities and not-for-profit organizations.

“In four decades of consulting to CPA firms, I have never seen a firm like Knutte,” said Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the deal. “Dad starts a small CPA firm and one by one convinces his four sons to all join the firm. He passes the baton to them and they go out and build a Top 300 CPA firm nationally and become recognized as the industry expert in Title IV audits of educational institutions. To watch how the brothers (Mike, Dave, Joe, and Matt) worked together and respected and trusted each other would make any parent or family business owner proud.”

“Joining Sikich allows us to offer our clients access to an expanded team of talented audit, accounting and tax experts, as well as a comprehensive suite of professional services,” said Michael Knutte, CEO of Knutte & Associates. “We’re excited to add our expertise to this growing and innovative firm.”

Sikich’s work in the government, not-for-profit and education sectors includes offering accounting, advisory and technology solutions to colleges and universities, health care organizations, social service agencies, private foundations, welfare organizations, religious organizations, political action committees, civic and community organizations, and trade associations.

“Knutte & Associates is a nationally recognized specialist in Title IV audits and consulting, and will enhance our ability to help clients comply with this important requirement related to student financial assistance,” said Richard Lynch, partner-in-charge of Sikich’s not-for-profit and education practices. “Their talented professionals will extend our expertise and add increased depth to our work with governments, not-for-profit organizations and educational institutions.”

Knutte & Associates employees will join Sikich’s Naperville and Chicago offices. The transaction is scheduled to close on Jan. 1.