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updated: 7/23/2020 9:44 AM

Sikich acquires Peoria accounting firm

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NAPERVILLE - Sikich has signed an asset purchase agreement to acquire the operating assets of Heinold Banwart, Ltd., a public accounting firm based in the Peoria area.

Terms of the acquisition were not announced.

The move expands Sikich's presence in central Illinois. Approximately 50 Heinold Banwart employees will join Sikich.

Heinold Banwart offers accounting, tax, audit and assurance, retirement plan, management consulting, business valuation, and wealth management services to businesses and organizations across industries, including manufacturing, construction, agribusiness, health care, real estate, not for profit, and local governments.

"The Heinold Banwart team adds valuable talent to our group and strengthens our position as a leading service provider in this market," said Tom Krehbiel, partner-in-charge of Sikich's CPA services.

The transaction is scheduled to close on Aug. 3.