Private Equity – Accounting, Consulting & Quality of Earnings

Jerry Henderson

Managing Partner
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Private equity is about the lifecycle of selected investing, portfolio management and successful realization. We understand you want insights to highlight the target company’s strengths, weaknesses, potential risk areas and improvement opportunities to help you manage, operate and sell a successful business. Our middle-market focus centers on leveraging expertise and due diligence to help PE firms make informed decisions, manage uncertainty and create value—through each stage of the investment timeline

Our private equity group’s experience comes from assisting with hundreds of transactions. We can quickly identify and quantify issues and provide meaningful due diligence and transaction solutions, such as business models, cash flow models and working capital engagements.

As part of Praxity, AISBL, a global accounting alliance, BKD has a worldwide transaction reach. Our international tax team combines cross-border transaction experience with local tax knowledge to help you plan and comply with complex international tax rules.

BKD’s broad range of private equity services can help you avoid the confusion and cost of managing multiple sets of advisors.

Our team can provide:

  • Pre-acquisition services—solutions to identify value drivers and exposures, and to structure the transaction to help manage risk
  • Financial due diligence—solutions to help understand a target’s strengths, weaknesses, potential threat areas and improvement opportunities
  • Transaction tax services—tax structuring, federal, state and local tax diligence, and specialty tax services
  • IT due diligence—solutions to assess, integrate or enhance a company’s information technology capabilities
  • Operations due diligence—insights on operational deficiencies, suggestions for improvements and potential ways to reduce costs
  • International tax services—solutions to help avoid pitfalls while seizing foreign opportunities and help with planning and complying with often complex international tax rules
  • Forensics and valuation services—solutions to investigate fraud and address litigation issues
  • Portfolio management—solutions to help transition newly acquired companies to professional ownership and help improve performance
  • Portfolio divestitures—solutions to help prepare the portfolio company for sale
  • IT Risk Services (ITRS)—solutions to help a portfolio company with the development and evaluation of internal controls
  • Assurance – solutions to help to ensure a smooth transfer of knowledge
  • Employee benefit plans—design, administration, audit, tax, investment and consulting solutions
  • Corporate finance services—mergers and acquisitions, management buyouts and ESOPs, securing financing and exit strategy planning services

Private Equity Thoughtware

Kidd & Company

“We were looking for a firm that could handle a multiple company integration transaction and were referred to BKD. The BKD transaction services team took time to understand the challenges of the transaction and proactively addressed them to ensure the project went smoothly. We became comfortable with their team and project approach and were truly pleased with the quality of work they produced.”

— Gerry DeBiasi, Partner
Kidd & Company
Old Greenwich, Connecticut

Spire Capital

“BKD is our go-to service provider for various portfolio companies. In the 10 years we've worked with them, BKD's advisors continuously provide top-level service, communication and professionalism. Their integrated service approach is second to none and allows for a seamless transition from due diligence to post transaction audit and tax work.”

— Donald Stewart, CFO
Spire Capital
New York, New York

High Street Capital

“This was our first experience with BKD’s intensive Data Analytics approach. Our target was a division of an entity owned by a public company. Given significant noise in the historical numbers, we really needed to level-set and figure out standalone profitability, including pro forma labor costs. BKD went to the level of rebuilding the financials invoice by invoice, which helped us gain a lot of comfort with the company’s core earnings power. Furthermore, BKD was critical in adding credibility to the process for the benefit of our lenders and other partners. I would highly recommend BKD, especially for due diligence of complicated operations or volatile profitability.”

— Rob France, Director
High Street Capital
Chicago, Illinois

Saw Mill Capital LLC

“In my 21 years of experience, I’ve worked with a lot of accounting firms. BKD distinguishes itself from the others. If they’re involved with a job, I feel confident it will be done right and on time. It’s great working with a firm that makes my job easier, not harder.”

“In most cases, it seemed that other accounting firms I worked with were just waiting to catch a mistake. But BKD stands behind me, working with me, not against me. In the past, when my accounting firm called, I would cringe. When BKD calls, I’m happy to pick up the phone.”

“As the CFO of a private equity firm, there’s not really anyone else in my office who does what I do on a daily basis, so there’s no one to talk through accounting or tax issues with. BKD provides the support I need.”

“I love BKD. I can’t imagine doing my job without them.”

— Blinn Cirella, Chief Financial Officer
Saw Mill Capital LLC
Briarcliff Manor, New York

Stewart Capital Management

“We use BKD for all our due diligence because we can count on them to both help us close good deals and keep us out of bad deals. Even for evaluating an investment opportunity in Mexico, they were able to staff a team of both U.S. and Mexican citizens. Their skill and capabilities rival anyone else’s and we have used all of the big four before we settled in with BKD.”

— Paul Pickard, Managing Director
Stewart Capital Management
Stilwell, Kansas

Dubin Clark & Company

“BKD did a great job with the assignment – coming in on time and on budget with a high quality product.”

— Michael Hompesch, Principal
Dubin Clark & Company
Greenwich, Connecticut

Westshore Capital Partners

“BKD’s transactional due diligence team exceeded all of our expectations. They performed a complete corporate due diligence review of the target company, which included sales, manufacturing, accounting, information systems, human resources and tax related issues. The target company presented a very challenging situation for everyone, but BKD’s resourcefulness and businessman’s approach in helping us substantiate our original investment thesis was invaluable. I would recommend BKD’s team to anyone who is responsible for operating companies and M&A transactions.”

— David J. Malizia, Managing Partner
Westshore Capital Partners
Tampa, Florida

Cave Creek Capital

"BKD’s team delivered on time and under budget. Their work product was thorough and insightful from both an accounting and business perspective. I would use them again."

— Kevin Fechtmeyer, President
Cave Creek Capital
Scottsdale, Arizona

KVCI (& Perennial)

"The BKD transaction services team has been a beneficial resource to KVCI because they have experience in the field, and they keep in tune with what we are trying to accomplish. We get excellent value for our dollar and timely delivery. We keep coming back to BKD because of the high level of trust and confidence we have in the team and the firm."

"The level of BKD’s work quality is high, and we have had an excellent experience working with the manufacturing and distribution, state and local tax, transaction services and investment banking teams. We know many professionals within BKD, which makes the firm both accessible and an organization we trust."

"The relationship KVCI has with BKD has created opportunities for both firms. We have been able to work on client situations together, and I believe both firms have seen an increase in business activity due to our relationship."

"BKD’s managers and partners provide excellent continuity, which is key, and we often work with the same team members on projects. The firm’s professionals treat the accounting and tax staff at their client as an extension of their own team. The continuing and ongoing interaction with our advisors makes it easy to recommend BKD because you know the matter will be handled well."

— Marshall Parker, President
KVCI (& Perennial)
Leawood, Kansas

Saw Mill Capital

"The BKD team assists and advises us in many ways—the audit team highlights potential financial control improvements, and the tax team counsels us on complex tax issues.”

“BKD’s client service led us to engage BKD as our transaction advisor for add-ons at portfolio companies. The firm’s transaction services team has worked on four add-on acquisitions, all of which have closed. In one acquisition, BKD provided forensic audit services leading to a better understanding of the actual earnings of the target company, which proved extremely valuable to us during the valuation process.”

“The accessibility we have to the BKD team is extremely important to us, and I enjoy the relationship I have with them. When I need assistance, I go directly to the partner or director.”

— Tim Nelson, Vice President
Saw Mill Capital
Kansas City, Missouri

University of Kansas Hospital Authority

“I am impressed with BKD’s transaction services team, which performed due diligence on a highly complex transaction. When UKHA brought them in, they hit the ground running, put together a great package and ensured a smooth transition in a nearly impossible timeframe.”

— William H. Marting, Senior Vice President & Chief Financial Officer
University of Kansas Hospital Authority
Shawnee Mission, Kansas

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