Eide Bailly Looks to Utah for Expansion

Fargo, N.D.-based Eide Bailly (FY12 net revenue of $157.70 million) will acquire Schmitt Griffiths Smith and Co. of Ogden, Utah, the Salt Lake Tribune reported.

The deal is expected to close Nov. 1.

SGS President Stuart Tholen, who will serve as PIC of the Utah office, says SGS’s 45 accountants, including five partners, will continue to serve clients in Weber and Davis counties.

Over the next five years, Eide Bailly expects to hire 50 more accountants and establish an office in Salt Lake City, he said. Eide Bailly MP Jerry Topp said the acquisition will fill a hole in its regional footprint, which covers nine states.

“Bringing SGS into the Eide Bailly family will connect our Phoenix, Denver, Boise and Billings practice areas,” Topp said in a statement.