“The Bay Area market is a major business incubator on the West Coast and an international connection point. Our combination with Seiler will enable us to continue growing and injecting innovation, value creation, and an elevated customer experience in this pivotal market,” Lynette Stolarzyk, Baker Tilly Bay Area managing partner, said in a statement.

Founded in 1957, Seiler has offices in Redwood City, San Francisco, San Jose, and Walnut Creek in California. The firm is also a member of HLB International, a global network of independent accounting and advisory firms with offices in more than 160 countries and jurisdictions.

Seiler has a stellar reputation in the Bay Area for the tax, advisory, and audit and attestation services it provides to ultra-high-net-worth families and individuals, privately held businesses, and private foundations and nonprofit groups.

“This combination will provide expansive resources, opportunities, technical expertise, and service lines that will be of immense benefit to clients and employees, as well as a dynamic platform for smart, tactical growth,” said Seiler CEO George Marinos. “Baker Tilly shares our vision and bullishness for what is possible. In short, we are all in.” 

As part of the deal, Marinos will become Baker Tilly’s Western U.S. regional tax leader, succeeding Gabe Torre who will step into the role of Western U.S. managing partner following the retirement of Steve Milner. Milner was the longtime managing partner of Squar Milner, a CPA firm that Baker Tilly acquired in 2020.

“With Seiler now part of our team, Baker Tilly solidifies its standing as a premier firm in the Bay Area,” Milner said. “It has been an honor leading Baker Tilly on the West Coast, and I am extremely proud of our team, the growth we’ve achieved, and our firm’s prospects for the future.”

Baker Tilly announced on Feb. 5 that it received a “significant investment” from private equity firms Hellman & Friedman and Valeas Capital Partners in what is one of the largest private equity investments in the CPA sector thus far.

Financial terms of the deal, which is expected to close in early June, weren’t disclosed. However, the Financial Times reported that H&F and Valeas would take an equity stake of about $1 billion for just over 50% of Baker Tilly, with more than $900 million coming from H&F. There will also be an undisclosed amount of debt financing provided by a group of private lenders, including Blackstone Credit, HPS Investment Partners, and Blue Owl Capital, FT reported.

Baker Tilly’s acquisition of Seiler marks a significant step forward, said Baker Tilly CEO Jeff Ferro.

“This combination continues our strong track record of growth and underscores our dedication to innovation, delivering unparalleled client experiences and building the country’s preeminent mid-market advisory CPA firm,” he said.

Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 141 territories, with 43,000 professionals and a combined worldwide revenue of $5.2 billion.