WithumSmith+Brown, a High 25 Agency based mostly in Princeton, New Jersey, has merged in Martini Companions LLC, a agency in Encino, California, enabling the agency to broaden to Los Angeles.
As a part of the deal, founding associate Steve Martini, managing associate Christopher Passmore and assurance follow chief Kevin Holmes, together with 50 different staff members, will be a part of Withum however will proceed working at their present location.
Monetary phrases of the deal weren’t disclosed. Withum ranked No. 24 on Accounting Right this moment’s 2021 record of the High 100 Companies. The agency has 18 places of work, annual income of $360 million, roughly 1,700 staff members and 193 companions. Martini Companions earned $10.5 million in annual income.
“Discovering the precise strategic associate positioned within the Los Angeles enterprise group is a crucial a part of our imaginative and prescient for development in Southern California,” mentioned Withum managing associate and CEO Invoice Hagaman in a press release Tuesday. “We discovered the right match with Martini Companions by way of experience, geographic location and tradition.”
Withum constructing in Princeton, N.J.
Courtesy of WithumSmith+Brown
The deal will convey higher business experience and specialised tax providers within the shopper merchandise, leisure, hospitality, well being care, actual property and know-how industries to the mixed agency.
“The final two years have demonstrated that our workers and purchasers really depend on us,” Passmore mentioned in a press release. “We’re so excited to hitch forces with Withum to broaden our depth of providers and to offer unparalleled profession alternatives for Martini Companions staff members.”
“I’m very excited concerning the large quantity of worth that this union of our two companies will convey to each our consumer base and staff members,” Martini mentioned in a press release.
Koltin Consulting Group CEO Allan Koltin suggested each companies on the mix. “For Withum, coming into the Los Angeles market was the following logical step after profitable combos in Orange County and San Francisco,” he mentioned. “Apparently they waited till they discovered the right match, each culturally and strategically. Martini has the dimensions, expertise base, and the ‘entrepreneurial engine’ which aligned completely with Withum. It received’t take a very long time for this mix to double or triple their presence in Los Angeles.”
Withum did various M&A offers final yr. Final November, Withum added Glick & Associates, a agency based mostly in San Francisco, and Restivo Monacelli in Windfall, Rhode Island. Final October, Withum added Maffei, Masiello & Co., a agency based mostly in Mendham, New Jersey. In July, it added OUM & Co., a agency headquartered in San Francisco. In January, Withum merged within the Doyle Carden Group, a New York-based personal investigative agency.