The History of KT

KT has been operating as an accounting practice in Rapid City in one form or another since 1936, when Harold Heims (NY) first opened the practice and later hired A. C. (Bud) Thorstenson. The firm started in offices above the old North Western Warehouse, then moved to offices above Staple & Spice. The building at the current 810 Quincy Street address was constructed in 1966. That is also the same year Roy Ketel and Rich Siekman helped form a new partnership. And in 1967, the firm purchased its first computer, an IBM System 1130, and began its leadership in computer technology. Since that time, the firm has grown by merger or acquisition with over twelve smaller practices in the Black Hills area. This rich history led to three firm name changes and seven building remodels/additions.

The most recent addition was the November 2007 completion of a three level, 14,300 square foot addition which houses over thirty five professional staff and a rooftop patio! Throughout its history, Ketel Thorstenson has been the leading accounting firm in the region, including office expansions in Custer, Spearfish, Sturgis, Belle Fourche, and even Chamberlain. Today, the firm operates out of Rapid City, Spearfish and Custer.

In addition to growing the accounting practice, the Partners of KT were (and continue to be) visionaries who chose to delve into business solutions for their clients outside of traditional tax and audit services. In 1997, the firm opened a technology division, called KT Connections and asked two computer technicians to manage the new venture. Ten years later, that newly created affiliate company has grown to over 40 staff members who design, sell and service over 25 business technology solutions in the Black Hills, including networking, commercial and residential sound, telephone solutions, and accounting software. As a matter of fact, the residential sound department just moved into its new custom designed Home Theatre showroom, housed in BES Lighting Center at the Tuscany Square in Rapid City. Connections and Ketel Thorstenson didn’t stop there. Dakota Backup, a data backup solution company, was formed in 2005 and is backing up data for clients nationwide! As of 2008, two new client solutions are hitting the regional market for KT Connections: KT Kill Spam and Dakota Managed Services. KT Connections, Inc. is located across the street from KT at 829 Quincy Street.

In 2001, Ketel Thorstenson teamed up with Tom Lee and his son, Eric Lee to form another affiliate company: KT Investment Advisors, LLC – a financial planning firm. That office now employs 4 staff and is also located at 829 Quincy Street.

As of 2008, the family of KT employs over 150 professionals and staff, including fourteen Partners. We are proud of our longevity, thankful for all of our clients, who are our friends and look forward to many more years of continued growth to serve the regional market.