Foley Represents Baker Tilly in Connection With Its Strategic Investment Led by Hellman & Friedman

Foley & Lardner LLP represented Baker Tilly, a leading advisory CPA firm, in connection with its strategic investment from private equity firms Hellman & Friedman (H&F) and Valeas Capital Partners (Valeas). This transaction represents the largest U.S. advisory CPA private equity transaction to date.

As part of this transaction, the firm will be restructured as two entities: Baker Tilly Advisory Group LP will provide the firm’s business advisory, tax, and other services, with Jeff Ferro continuing in his role as CEO. Baker Tilly US, LLP, a licensed CPA firm, will provide the firm’s attest services, with Jere Shawver, managing partner – risk and assurance, stepping into the new role of CEO. Baker Tilly US, LLP will operate as a separate legal entity pursuant to regulatory and independence requirements. Following the restructuring, both firms will remain partnerships, with all partners holding equity alongside H&F and Valeas in Baker Tilly Advisory Group, LP.

The Foley deal team was led by partner Curt Creely and included partners Robert Bernstein, Jonathan Witt, Christopher Bourne, Belinda Morgan, Kevin Shuler, Carrie Long, Christopher Cutler, and Margaret Nelson, and associates Paige Moscow, Graham MacEwan, Andrew Del Real, and Lydia Stambaugh, with additional support from partners Beth Boland, Jamie Class, Benjamin Dryden, Aaron Maguregui, John Palmer, Olin Shivers, Christopher Ward, and Nick Welle, senior counsel Sonia Kothari, special counsel Arthur Phillips, and associates Jane Blaney, Laura Coole, Britton Grimes, Amber Kolb, James Ritter, and Bayleigh Sauerwald.