NDH acquired McGowan Guntermann; Kostelanetz combined with Welty; and Avantax added Erin Hinzmann.
M&A roundup: NDH, Kostelanetz and Avantax expand
June 4, 2024 1:24 PM
NDH acquires McGowan Guntermann
Courtesy of NDH
McGowan provides tax and outsourced accounting services to high net-worth individuals, closely held businesses and their owners, and family groups. The firm dates back to 1945 and is led by managing partner David Larson.
NDH's staff totaled about 75 people prior to the acquisition, while McGowan's was around 12. NDH had 10 partners and is adding four more with McGowan. McGowan's current partners will remain actively involved in the business going forward. Financial terms of the deal were not disclosed, but all McGowan employees will become part of NDH's Employee Purpose Plan, a broad-based employee ownership program.
"We are thrilled to add the entire McGowan team to the NDH family," said NDH CEO and co-founder Jeremy Dubow in a statement. "Managing partner David Larson and his partners are talented and experienced leaders who run a high-quality business. Our client and service areas are very complementary and, more importantly, our firm cultures are well aligned."
"We were impressed by the NDH team and the level of expertise and resources they could bring to bear," Larson said in a statement. "NDH is the right cultural and strategic fit for McGowan, and we believe our employees and clients will both benefit from being part of this team."
NDH was founded by three former professionals from Arthur Andersen and
"We're confident that McGowan will be a fantastic addition to the NDH platform," said Peter Cozzi, team lead at Unity Partners, in a statement. "It is exciting to see the NDH team continue to attract such great partners, and we believe it is a testament to their ability to help already successful firms offer an even better experience to clients and employees."
Kostelanetz combines with Welty
Kostelanetz LLP, a New York-based tax and white-collar criminal defense firm, has merged in Welty PC, an Atlanta-based tax law firm to create a national tax controversy practice with experience in civil and criminal tax matters ranging from negotiation with tax authorities through all phases of litigation.
With the deal, Kostelanetz will be adding 10 new attorneys and three new litigation support personnel to supplement its already deep bench of former government lawyers from the IRS and the Department of Justice. It will be adding Welty's Atlanta office to its existing offices in New York and Washington, as well as tax controversy litigator Todd Welty.
"Todd is a terrific lawyer, with an unmatched reputation for handling — and winning — some of the largest and most complex civil tax matters," said Kostelanetz partner Bryan Skarlatos in a statement. "So uniting our two groups of veteran tax attorneys into the most experienced tax controversy practice in the country was a very easy decision."
Both Todd Welty and Andy Steigleder, who, prior to joining Welty PC, was a tax litigation partner at Mayer Brown, will join Kostelanetz as partners.
"After more than two decades of knowing the firm's work, my respect for the superior level of knowledge and skill that Kostelanetz attorneys bring to their clients could not be higher," said Welty in a statement. "There are only a handful of people who I would want to practice with at this stage in my career, and they all work at Kostelanetz."
The addition of an Atlanta office will enable Kostelanetz to strengthen its ties to Spelman College, a historically Black liberal arts college for women in Atlanta.
With the deal, Kostelanetz will be adding 10 new attorneys and three new litigation support personnel to supplement its already deep bench of former government lawyers from the IRS and the Department of Justice. It will be adding Welty's Atlanta office to its existing offices in New York and Washington, as well as tax controversy litigator Todd Welty.
"Todd is a terrific lawyer, with an unmatched reputation for handling — and winning — some of the largest and most complex civil tax matters," said Kostelanetz partner Bryan Skarlatos in a statement. "So uniting our two groups of veteran tax attorneys into the most experienced tax controversy practice in the country was a very easy decision."
Both Todd Welty and Andy Steigleder, who, prior to joining Welty PC, was a tax litigation partner at Mayer Brown, will join Kostelanetz as partners.
"After more than two decades of knowing the firm's work, my respect for the superior level of knowledge and skill that Kostelanetz attorneys bring to their clients could not be higher," said Welty in a statement. "There are only a handful of people who I would want to practice with at this stage in my career, and they all work at Kostelanetz."
The addition of an Atlanta office will enable Kostelanetz to strengthen its ties to Spelman College, a historically Black liberal arts college for women in Atlanta.
Avantax adds Erin Hinzmann
"A client's CPA asked for an investment product I didn't have access to in time for the client to get the preferential tax treatment, but when I looked at Avantax, they would have five options available in the required timeframe," Hinzmann said in a statement. "In the short time since joining Avantax, I can already tell that the service and support I'm already getting is going to be the most incredible boon for my practice."
Last month Avantax acquired
