Chicago-based IPA 100 firm Baker Tilly (FY24 net revenue of $3.36 billion) has entered into an agreement to acquire New York-based IPA 100 firm Anchin, Block & Anchin LLP (FY24 net revenue of $150.7 million), while establishing New York City as the firm’s headquarters following the transaction.

The combination expands Baker Tilly’s presence in the New York market and strengthens its capabilities serving middle-market businesses, investment funds and high-net-worth individuals. The firms said they share a focus on industry specialization, long-standing client relationships and advisory, tax and assurance services.

“New York is one of the most important markets for our clients and for the future of our firm. Anchin strengthens our presence in a market that is central to many of the industries, entrepreneurs and businesses we serve. Establishing New York as our headquarters reflects our long-term commitment to this market and our continued investment in the talent, expertise and capabilities our clients need to succeed,” said Eric Miles, CEO of Baker Tilly.

Following the close of the transaction, Russell Shinsky will serve as Baker Tilly’s New York managing principal and lead the firm’s continued growth in the market.

“Over the last several years, we had many conversations with firms and investors exploring different paths forward for Anchin. We were fortunate to be in a position of strength and could be selective about what would best serve our clients and our people for the long term. Baker Tilly stood out because of its commitment to the middle market, its investment in innovation and talent and the respect it showed for the culture, leadership and reputation we have built over the last 103 years. We believe this combination allows us to build on what has made Anchin successful while creating new opportunities for our clients and team members,” said Shinsky.