SAN RAMON, Calif., June 11, 2015 (GLOBE NEWSWIRE) -- Armanino LLP, the largest independent accounting and business consulting firm based in California with revenues of $155 million, announced today an agreement with RBZ LLP, a $40 million firm, to join together effective August 1, 2015.
The deal combines two leading, award-winning firms and expands Armanino's presence into the Greater Los Angeles area, making it the first regional firm of its size to have locations in the key metropolitan areas throughout California. With statewide reach, Armanino is now poised to be the go-to accounting and business consulting firm in California. After a decade of double-digit revenue growth and expanded services nationally, the firm has positioned itself as a dominant industry player.
"Armanino is one of the most admired, respected and feared firms in the country and this move has established it as California's premier firm," said Allan D. Koltin, industry analyst and CEO of the Koltin Consulting Group. "The firm adds value to clients through its consulting and advisory practice at a time when most only have a compliance practice, giving it a significant competitive advantage."
The combination expands RBZ's practices areas in Business Management and Family Office, Law Firms, and Franchises. The agreement also introduces Armanino's high-tech and deep consulting capabilities to the Southern California marketplace. Together the companies combine for deeper practice areas in the real estate, middle market and nonprofit industries as well as stronger international practice.
"This agreement is a boon to our people and our clients who can now tap into Armanino's deep expertise in business technology consulting," said Harvey Bookstein, co-founding partner of RBZ. "The businesses we work with can greatly benefit from Armanino's solutions in budget and forecasting, business reporting and analytics, cloud solutions and ERP."
The combined firm will be named Armanino, and will keep its RBZ Los Angeles office location at 11766 Wilshire Boulevard with partners and staff continuing to serve its clients without disruption of services.
Armanino and RBZ have both been recognized as "Best Places to Work" by the San Francisco Business Times and Los Angeles Business Journal respectively and as "Best Accounting Firms to Work For" by Accounting Today. Both firms are listed as Inside Public Accounting's Largest Firms.
"We've got two elite teams coming together," said Andy Armanino, managing partner of Armanino LLP. "And together we'll blanket California and its largest markets. This also means a more comprehensive set of customized solutions for our clients."
Armanino's aggressive growth is anchored in its pursuit to expand its service lines, technology solutions and specialized expertise and to make key acquisitions. The firm has been listed on Inside Public Accounting's Fastest Growing Firms and Best of the Best Managed Firms in the nation the past four years running. RBZ has been listed on Inside Public Accounting's Best of the Best Managed Firms in the nation the past three years running.
This transaction with RBZ is scheduled to close on August 1, 2015, subject to customary closing conditions.
Armanino LLP (www.armaninollp.com) is the largest independent accounting and business consulting firms based in California and one of the largest firms in the United States. Armanino provides an integrated set of audit, tax, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business from start-up through rapid growth to the sale of a company. Armanino emphasizes smart technology; leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. Armanino extends its global services to more than 100 countries through its membership in Moore Stephens International Limited – one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division—AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
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