Wipfli acquires Chicago area’s Patke & Associates
The accounting and consulting firm Wipfli said Thursday it has acquired Patke & Associates, expanding its presence in the Chicago area.
Milwaukee-based Wipfli said Patke’s staff of 12 will join Wipfli, giving it more than 2,300 professionals nationally and about 250 in the Chicago metro area. Patke & Associates will be rebranded to the Wipfli name. Patke is based in Lincolnshire, Illinois.
“The addition of Patke & Associates provides Wipfli with an opportunity to add specialized resources and build a special industry niche focused on hedge funds,” Kurt Gresens, Wipfli’s managing partner, said in a statement.
“Given our combined knowledge and strength in the financial institutions and financial services industry and our shared dedication to our clients and helping them achieve their goals, this is an excellent addition for our firm.”
Founded in 1990, Patke & Associates is an audit, tax and consulting firm. It is an investment partnership services provider to more than 100 global investment funds.
Paul Patke, owner and managing shareholder of Patke & Associates, said the move will broaden and deepen specialized services it can provide to clients.
“For our associates, the combination will provide advanced training opportunities and increased career opportunities as they become associates in a larger firm,” Patke said.
Wipfli has been an acquirer in the consolidating accounting industry and now is among the top 20 largest firms in the U.S.
Koltin Consulting Group advised both firms on the transaction.
“This is another great example of Wipfli’s commitment to specialized knowledge and industry expertise,” Allan D. Koltin, chief executive of Koltin Consulting Group, said in a statement. “Even though Wipfli is one of the fastest growing firms in the country, they continue to be very strategic in their selection of firms they invite to join them and very disciplined in their commitment to ‘going deep’ in the industries in which they specialize.”