Evolution Retirement Services to be acquired by Sikich

Plan design provider to join professional services firm

Geier

Last updated on July 2nd, 2019 at 09:19 am

Wauwatosa-based Evolution Retirement Services Inc. has agreed to be acquired by Naperville, Illinois-based professional services firm Sikich LLP. The terms of the transaction, which is expected to close April 1, were not disclosed.

Geier
Geier

ERS offers retirement plan design and administrative services, such as profit-sharing plans, 401(k) plans, money purchase pensions and cash balance plans. The company, which has five employees, works with small and mid-size businesses, usually those with fewer than 100 employees. It will be integrated with Sikich’s employee benefit services business, which provides benefit plan design, administration and compliance. ERS’ Wauwatosa office will be closed and all of its employees will move into Sikich’s Brookfield office.

“We are very excited and proud to be joining Sikich,” said Mark Maurice, president of Evolution Retirement Services. “This deal allows for regional expansion of our retirement plan administration services and ensures long-term stability for our employees and clients. Further, Sikich’s depth of expertise across its various practice areas will enable us to offer our clients new insights and services.”

Sikich now has more than 800 employees at about 20 offices nationwide, and is among the top 30 public accounting firms. In addition to accounting, it offers technology, investment banking and advisory services to corporations, nonprofits and governments.

Sikich has been seeking strategic growth across the Midwest in recent years. Last year, it acquired an Illinois accounting firm and an Ohio audit and professional services firm. In 2013, Sikich acquired Brookfield-based Kolb + Co., which was the largest locally-owned public accounting and business advisory firm in Wisconsin at the time. In 2014, it merged with Brookfield-based information security consulting firm 403 Labs, and in 2015 it acquired the audit, accounting and tax practice of Pewaukee-based Jannsen + Co. The firm maintains one Wisconsin office, in Brookfield.

“Our team is skilled at helping companies develop and administer employee benefit plans that enable them to attract and retain talent,” said Chris Geier, chief executive officer and managing partner of Sikich. “At the same time, we help them comply with complex regulatory requirements. The addition of Evolution Retirement Services will add depth to our employee benefit services practice and enhance the retirement planning services we offer companies across industries.”

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Molly Dill, former BizTimes Milwaukee managing editor.

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