M&A roundup: Withum buys PI agency

January 8, 2021 2:08 PM

WithumSmith+Brown merged in the Doyle Carden Group, a private investigation firm; J.S. Held acquired Mehner CPAs, Simon Consulting, and Cohen Volk Economic Consulting Group; and Landmark CPAs and Landmark Financial added Monheit Frisch.

NEW JERSEY: Withum merges in Doyle Carden

Courtesy of WithumSmith+Brown

Details: WithumSmith+Brown PC, a Top 25 Firm based in Princeton, New Jersey, has added the Doyle Carden Group LLC, a New York-based private investigative firm that’s licensed in New Jersey.

Doyle Carden specializes in anti-money-laundering investigations and helping with litigation services. It will be teaming up with Withum’s cyber and information security services.

Financial terms of the deal were not disclosed. Withum ranked No. 24 on Accounting Today’s 2020 list of the Top 100 Firm, with annual revenue last year of $275 million and 1,200 team members, including 135 partners. As part of the deal, four principals from the Doyle Carden Group, including co-founder Geoffrey Doyle, will be joining Withum. They will move from their current offices to Withum’s offices in Whippany and Red Bank, New Jersey, and New York City.

"We are thrilled to form a strategic union with Withum," said Doyle in a statement Friday. “The combined resources of our two great firms will bring a depth and breadth of experience and expertise to assist law firms, corporations, domestic and international financial institutions, and top-tier consulting firms with litigation consulting services, forensic and fraud services, bankruptcy, and business valuation services, in addition to our long-established anti-money laundering and compliance and remediation services. It’s very exciting.”

The deal will expand Withum’s anti-money-laundering services. “Doyle Carden Group’s anti-money laundering and investigative services teams have addressed money laundering, terrorist financing, and complex litigation matters for clients around the world for more than a decade,” said Thomas Hoberman, Withum’s forensic and valuation services practice leader, in a statement. “Their experience will broaden our current AML practice, which is led by Peter Kim.”

Last January, Withum expanded to California by merging in KSJG, a firm in Irvine. In 2019, it expanded in the Boston area by merging in the firm of Rucci, Bardaro & Falzone in Woburn, Massachusetts.

NEW YORK: J.S. Held acquires three groups

Details: J.S. Held, a consulting firm based in Jericho, New York, has acquired Mehner CPAs, Simon Consulting, and Cohen Volk Economic Consulting Group.

The deal adds new services and more than 30 financial and advisory professionals to J.S. Held. Financial terms were not disclosed.

The addition of Mehner CPAs augments J.S. Held’s ability to offer local financial experts in Southern California for matters related to family law. The Mehner team works with attorneys and high-net-worth individuals to provide forensic accounting services such as business valuation, business litigation, forensic tax and accounting analysis, and expert witness testimony. Mehner CPAs is led by Glenn Mehner and based in Orange County, California.

“We are thrilled to have the team from Mehner CPAs join us,” said Victoria Wilkerson, executive vice president of the J.S. Held forensic accounting & economics practice, in a statement Thursday. “Their specialized expertise in forensic accounting related to family law adds to our growing capabilities in this area and furthers our local presence throughout the Western United States.”

The acquisition of Simon Consulting brings a new turnaround & restructuring practice group to the firm. Based in Phoenix, the Simon Consulting team is led by Peter Davis, Dan Williams and Barry Monheit. It provides turnaround, restructuring, receivership, litigation, business valuation, and forensic accounting services to clients.

The acquisition of Cohen Volk Economic Consulting Group adds expertise in forensic economic analysis in business, personal injury, wrongful death, employment and marital litigation.

J.S. Held has more than 1,000 professionals in over 100 offices across the U.S., Canada, Latin America, Europe, Asia Pacific and the Middle East.

ARIZONA: Landmark adds Monheit Frisch

Details: Landmark PLC CPAs and Landmark Financial LLC, based in Little Rock, Arkansas, have merged in Arizona-based Monheit Frisch, effective Jan. 1, expanding Landmark’s reach beyond Arkansas.

Monheit Frisch was founded in 1971 as a sole-proprietorship CPA practice in Sun City, Arizona. The firm has evolved into a multigenerational family business that offers an array of tax and wealth management services. Monheit Frisch now has two locations in Arizona and a staff of 17 professionals.

“We are honored to join forces with one of Arkansas’ most well-respected firms,” said Monheit Frisch managing partner David Monheit in a statement. “This combination of talent and knowledge will provide all of our clients with more of what they have come to expect from both firms — ideas, insights and exceptional service.”

Financial terms of the deal were not disclosed. Landmark has four locations in Arkansas and a team of more than 115 people. The firm provides accounting, assurance, tax, business advisory and wealth management services.

“This merger is an exciting move for both firms,” said Landmark co-managing member Randy Milligan in a statement. “Landmark is thrilled to expand our presence into Arizona and add an incredibly talented group of individuals to our team.”

Landmark originates from a 2018 merger between two firms: Beall Barclay & Co. PLC and the Little Rock office of Thomas & Thomas LLP. Beall Barclay was founded in 1963 in Fort Smith, Arkansas, and Thomas & Thomas in 1953 in Texarkana, Arkansas.