Prosperity Partners, a Chicago-based accounting business backed by private equity, has completed the acquisition of Wiener and Garg, a tax preparation, planning, advisory and accounting firm based in Rockville, Maryland.
As part of the deal, all W&G employees will become part of Prosperity's "employee purpose plan," an employee ownership program that allows all employees to benefit from the company's success.
Financial terms of the deal were not disclosed. W&G dates back to 1980 and offers a variety of tax, consulting and accounting services to businesses and high-net-worth individuals. It focuses on industries such as real estate and real estate construction, software development, legal services, and franchisers. The firm is led by partners Subhash Garg and Vikesh Bansal, and both plan to remain actively involved with the business.
"We are delighted to officially partner with the entire W&G team and welcome them to the Prosperity Partners family," said Prosperity CEO and co-founder Jeremy Dubow in a statement Tuesday. "Subhash and Vikesh are both outstanding individuals, and we're confident that our alignment on premier client service and key service offerings will make W&G a great addition to the Prosperity platform."
W&G has approximately 10 employees, which brings Prosperity's total headcount to about 120 employees.
"It's a true honor to launch this partnership and we look forward to leveraging our firm's decades of experience to help strengthen and deliver high-quality service to all Prosperity clients," Garg and Barsal said in a statement. "Throughout our meetings with Jeremy and the Prosperity group, their people-first, team-oriented culture and extensive expertise within the tax and accounting industry resonated with us, and we're excited to be joining such a well-established organization."
Prosperity Partner is backed by the private equity firm Unity Partners LLC, based in Dallas. "We are extremely proud of Prosperity Partners' continued expansion and their commitment to pursuing avenues of growth to help elevate the business," said Peter Cozzi, team lead at Unity Partners, in a statement. "We're thrilled for this partnership and look forward to Prosperity's continued success."
Prosperity Partners was formerly known as NDH Advisors before it rebranded last month. The firm also completed its acquisition of
