Founded in 1917, Eide Bailly has grown into a top 20 U.S. firm with over 3,500 employees and annual revenues exceeding $800 million. By partnering with Reverence Capital, which manages more than $17 billion in assets, the firm plans to accelerate its innovation strategy and expand its footprint in a market increasingly defined by complex data and AI requirements. Managing Partner and CEO Jeremy Hauk emphasized that the move is intended to equip the firm for the next generation, ensuring clients receive deeper expertise as their business challenges evolve.

Following the transaction, the firm will adopt an alternative practice structure common in the industry. Eide Bailly LLP will continue to operate as a licensed CPA firm for all attest and audit services, while a new entity, Eide Bailly Advisory LLC, will handle non-attest and business consulting work. This division allows the firm to leverage external capital to scale its advisory business while strictly adhering to regulatory independence standards. The current executive team, including Hauk and COO Andy Spillum, will remain at the helm to oversee the transition and subsequent growth phase.