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JUNE — Lake, Hill & Myers (LHM), a Salt Lake City-based CPA firm, will join Eide Bailly, one of the 25 largest CPA firms in the country, on July 1. This union will bring Eide Bailly’s total staff to more than 1,200, including 175 partners. Eide Bailly’s total revenues for fiscal year ended April 30, 2013, were $167 million. LHM will add $3.5 million of revenue to the combined firm.
In November 2012, Ogden-based Schmitt, Griffiths, Smith & Co. joined Eide Bailly. “With the addition of LHM, we will have a stronger presence in the western region of the United States,” said Dave Stende, managing partner/CEO for Eide Bailly. “This is all part of our strategic plan to build out our footprint to the West and to serve mid-market clients.”
Eide Bailly currently has 21 offices in 10 states west of the Mississippi River. According to Stende, the firm has been very successful because of its small firm/large firm approach to service.
Bob Lake, LHM partner, said this union will positively impact stakeholders. “We will be able to help our clients with more of their business needs – like business analytics, business valuations and buy/sell assistance – by utilizing the knowledge and expertise of specialists across Eide Bailly. Even with more resources available, our clients will continue to work with the same LHM professionals and receive the personal service they have come to expect and appreciate.”