BKD buys Colorado firm

BKD LLP is expanding its Colorado presence and doubling its systemwide enterprise risk solutions practice through an acquisition.

The Springfield-based accounting firm closed this month on the purchase of Denver-based Paragon Audit & Consulting Inc. for undisclosed terms, said BKD spokesman Levi Costello. The deal was signed in mid-May.

Through the buyout, BKD gains Paragon Audit & Consulting’s $2.4 million in annual revenue, 30 clients and 11 employees. Founder Keith Galante will join BKD as a partner as the firm officially comes under the BKD umbrella tomorrow, Costello said. The employees are relocating to BKD’s Denver office, where 85 work.

The $2.4 million in revenue is roughly equal to that of BKD’s ERS practice, he said. The ERS division assists in legal and regulatory compliance.

Overall, BKD posted fiscal 2016 revenue of $550 million and has 35 offices in 16 states. The company has 2,600 employees, according to a news release.

BKD ranked 12th last year on Inside Public Accounting’s annual list of the 100 largest U.S. accounting firms. The rank was based on 2015 revenue of $537.6 million, a 7 percent increase.

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