NDH Advisors merged in Jain & Jain; and Magone & Co. plans to add Wurdemann, Pinto & Co.
M&A watch: NDH and Magone expand
January 31, 2024 4:42 PM
NDH Advisors merges in Jain & Jain
Courtesy of NDH
NDH
Jain & Jain was formed in 1986 by founders Mike and Rajni Jain. The firm offers tax and outsourced accounting services to high net-worth individuals, closely held businesses and their owners and family groups, as well as estate planning and succession for business owners. Its clients are mainly based in Texas, Florida, Utah and Kansas. Both founders plan to continue to remain actively involved in the firm.
"This transaction complements NDH's core service offering and allows us to add talented professionals to our growing team," said NDH CEO Jeremy Dubow in a statement Tuesday. "Mike and Rajni are passionate and experienced business owners with values that align with ours. As well-respected leaders and best-in-class advisors, they will help NDH expand its business in Texas and the surrounding states."
NDH now has 10 partners and 60 employees, including approximately 15 professionals from Jain & Jain. All Jain & Jain employees will become part of NDH's Employee Purpose Plan, a broad-based employee ownership program, which allows qualifying employees to benefit from the company's success.
"The Jain & Jain team is thrilled to partner with NDH's outstanding professionals, as we combine businesses to provide the highest quality tax and accounting services to clients throughout the country," said Mike Jain in a statement. "Our shared resources and industry expertise will strengthen NDH's ability to offer to employees exceptional professional growth opportunities while also helping clients meet their complex tax and financial needs."
Unity sees the deal as a way to grow NDH. "With strong alignment on growth ambitions, the Unity team quickly realized the opportunity to partner Jain & Jain with NDH to further execute our Partner & Propel strategy," said Peter Cozzi, team lead at Unity Partners, in a statement. "We believe the addition of Jain & Jain to the NDH platform is a great opportunity to leverage NDH's resources and expertise to help an already successful business offer an even better experience to its clients and employees."
Magone & Co. plans to add Wurdemann, Pinto & Co.
Magone & Co., a firm based in Roseland, New Jersey, has signed an agreement to join forces with Wurdemann, Pinto & Co., headquartered in Hackensack.
The agreement is scheduled to take effect on May 1, 2024, and the combined firm will employ approximately 40 people.
"What drew us to Wurdemann, Pinto was the firm's similar company culture and business philosophy, as well as their complementary strengths in Client Accounting Services and advisory services for C-suite executives," said managing partner Nick Magone in a statement Wednesday. "We are like-minded in our client-centric approach, and we're excited for the opportunities that lie ahead in 2024."
Financial terms of the deal were not disclosed.
"Nick's firm has proven expertise in international tax, attestation services and advising entrepreneurs on operational and financial matters," said Wurdemann partner Steve Pinto in a statement. "They've also made significant investments in technology, training and staff over the last few years. We're glad to introduce our clients to these expanded services."
The agreement is scheduled to take effect on May 1, 2024, and the combined firm will employ approximately 40 people.
"What drew us to Wurdemann, Pinto was the firm's similar company culture and business philosophy, as well as their complementary strengths in Client Accounting Services and advisory services for C-suite executives," said managing partner Nick Magone in a statement Wednesday. "We are like-minded in our client-centric approach, and we're excited for the opportunities that lie ahead in 2024."
Financial terms of the deal were not disclosed.
"Nick's firm has proven expertise in international tax, attestation services and advising entrepreneurs on operational and financial matters," said Wurdemann partner Steve Pinto in a statement. "They've also made significant investments in technology, training and staff over the last few years. We're glad to introduce our clients to these expanded services."
