Edina, Minn.-based IPA 200 firm Abdo LLP (FY21 net revenue of $28.6 million) is merging in HG&K Ltd. of Minnetonka, Minn.
Founded in 1978, HG&K provides accounting and advisory services to a broad range of businesses and organizations, specializing in the construction, real estate, manufacturing, professional services and non-profit industries. The deal adds three partners and 16 staff members to the Abdo team.
“Abdo and HG&K share many similarities in the services we offer and the industries we serve, but more importantly, HG&K also shares our values and vision for the future,” says Abdo MP Steve McDonald. “Joining forces will allow us to increase our specialization, provide deeper expertise and offer more value-added solutions to our clients.”
“HG&K is one of the preeminent CPA firms in the market and because of that, they were sought after by many acquirers,” adds Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the merger. “They chose Abdo primarily because of the culture alignment, as both firms have a ‘people first’ mentality. They will also benefit greatly from the tremendous depth of resources and technology that Abdo brings to the table.”
