Sikich adds USPTO work in its newest purchase
Gettyimages.com / Don Farrall
By
Ross Wilkers
The technology and professional services provider has prioritized federal market growth in its acquisitions over the past five years.
Sikich, a technology and professional services provider, has completed a fifth acquisition in as many years that focuses on building out its presence across the federal landscape.
The newest move as part of that strategy sees Sikich purchase the federal contracts business of Cherry Bekaert Advisory, whose primary government customer is the U.S. Patent and Trademark Office.
Six members of the Cherry Bekaert team will join Sikich, which is also adding Aurpon Bhattacharya as a principal in the federal government practice. Financial terms of the transaction announced Monday were not disclosed.
Chicago-headquartered Sikich employs close to 1,900 employees whose client base includes federal agencies, state and local government agencies, corporations and nonprofit organizations.
Sikich has recorded approximately $13.1 million in unclassified prime contract revenue over the trailing 12 months with the Pentagon's Defense Finance and Accounting Service its largest client at 42% of the obligations, according to USASpending.gov. Cherry Bekaert's unclassified prime revenue figure over that same timeframe is $2.4 million with all of it from USPTO.
In May, Sikich accepted a $250 million minority growth investment from Bain Capital to support this current iteration of the expansion strategy. Bain Capital is the same private equity firm that acquired Guidehouse in December 2023, while Sikich retains majority control of itself in this instance.
Sikich’s approach to growth across the federal landscape covers both agencies and contractors. Its expansion push traces back to 2019 and the purchase of public accounting firm Halt, Buzas & Powell that marked an initial entry into the Washington, D.C. and Baltimore metropolitan regions.
Then in 2022, Sikich bought another public accounting firm in Cotton & Company. That transaction added 200 employees to Sikich’s team, including 15 partners, and footprints with cabinet-level and independent federal agencies.
Sikich acquired professional services firm CLA in 2023 to add 70 employees and a business whose client base included the Transportation Department, Defense Commissary Agency and Nuclear Regulatory Commission.
In August, Sikich purchased the accounting and consulting services firm Saggar & Rosenberg to further extend across both GovCon industry clients and federal agencies.