Baker Tilly and Moss Adams announce plan to merge

Baker Tilly and Moss Adams have announced a merger, creating the “sixth-largest” advisory compulsory personal accident (CPA) company in the US.

Financial terms of the transaction were not disclosed.

However, according to the Wall Street Journal, the deal is valued at $7bn.

The merger, which is expected to close in early June, will enhance Baker Tilly’s advisory, tax and assurance services.

It will see Baker Tilly and Moss Adams unite under the Baker Tilly name, strengthening industry specialisation and expanding geographic reach.

In a statement, Baker Tilly said the combined group will be “positioned to help middle-market businesses navigate an increasingly complex environment”.

Jeff Ferro, Baker Tilly’s CEO, will lead the combined company until his retirement, with Moss Adams CEO Eric Miles named CEO-elect, taking over on 1 January 2026.

Ferro said: “Moss Adams is a great strategic fit with Baker Tilly. We have long respected the firm, its people and its industry-focused approach. By bringing together our strengths, we are expanding our ability to serve middle-market businesses with greater expertise, resources and insights.”

Miles added: “The resources, geographic reach and go-to-market strength of the combined firm magnifies opportunities for our people to grow, collaborate and innovate.

“We are proud to offer our clients these expanded resources to deliver even greater value and set a new standard for advisory services in the middle market.”

Private equity firm Hellman & Friedman will increase its investment in Baker Tilly, with Valeas Capital Partners also boosting its stake.

Post-merger, the audit business will operate as Baker Tilly US, LLP, and advisory services will fall under Baker Tilly Advisory Group, LP.

Simpson Thacher & Bartlett and Vedder Price PC acted as legal counsel to Baker Tilly, while Moss Adams was advised by Deutsche Bank Securities on financial matters and by Dechert on legal affairs.

In March 2025, Baker Tilly expanded its state and local tax expertise through the acquisition of Dallas-based company Invoke Tax Partners.

“Baker Tilly and Moss Adams announce plan to merge ” was originally created and published by International Accounting Bulletin, a GlobalData owned brand.

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