GJ to get top-25 ranked accounting firm
Grand Junction is getting its first accounting firm with an official Top 25 national rating.
Colorado-based Gordon, Hughes & Banks, 655 N. 12th St., is joining Eide Bailly LLP, rated in the nation’s
Top 25 accounting firms by the Public Accounting Report, the newsletter for public accountants.
The merger becomes official on Saturday.
“Eide Bailly’s culture is very similar to our own,” said James Lyons, the Grand Junction native who helped open the local office and is now managing partner of GH&B in Denver. “We’ve already got a very strong oil and gas, real estate, retail and professional services presence. What they’re going to bring to the table is a much stronger presence than we have in health care, financial institutions and insurance. They also offer forensic accounting, which is something we don’t currently offer.”
The local office primarily provides tax services. The audit function will be added within the next 12 months, Lyons said.
“We’re familiar with both firms,” said Rob Sachs, chief operating officer in the Grand Junction-headquartered Dalby, Wendland & Co. office, which is among Grand Junction’s largest CPA firms with more than 100 employees locally.
“This is a positive statement for western Colorado that there is a good business center and a good economy that’s occurring and is attractive to a national presence,” he said.
The deal brings Eide Bailly’s total staff to more than 1,200, including 157 partners. The firm’s total revenues for the year ended April 30 were $114 million. GH&B adds $13 million in revenues to the firm. GH&B has about 100 employees firm-wide across the state in offices in Frisco, Vail, Boulder, Golden and Denver. Firm accountants expect the merger to add, not reduce, staff.
“It allows us to provide a lot more services to our clients,” said Danny Bresnahan, tax manager for the Grand Junction office of GH&B.
“We’re still serving the same industries. We’re still servicing the same client base. There are more opportunities for staff in terms of benefits and training. What it’s going to do in Grand Junction is, in two to five years, we’re going to have more of a presence. We’ll have more auditors here,” he said.
The office here has a long legacy of employing Mesa State College alumni. It opened in 1980.
The original office opened in Breckenridge in 1969. The Grand Junction office has approximately eight employees. Eide Bailly is ranked as the 23rd largest CPA firm in the nation.