CohnReznick, a professional services operator, has acquired Smith Schafer & Associates, a company based in Minneapolis, Minnesota, US.
The financial terms of the transaction were not disclosed.
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Smith Schafer, which operates three offices and has 12 partners and 89 employees, is focused on professional services, construction, manufacturing and transportation.
Smith Schafer managing principal Michael Malugani said: “We are thrilled to have found a partner who will help us build on the tremendous track record and legacy of Smith Schafer, enabling us to secure the next chapter of success, deliver greater value to our clients and more career opportunities to our people in this dynamic business environment.”
Following the acquisition, CohnReznick plans to use its advisory, assurance and tax capabilities, including work in real estate, financial services, technology, and consumer and manufacturing, to support clients in Minnesota.
The deal builds on CohnReznick’s recent footprint expansion, including new offices in San Francisco, California; Tampa and Tallahassee, Florida; and Richmond, Virginia.
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By GlobalDataThe company has pursued organic growth alongside selective mergers and acquisitions, supported by its partnership with Apax Funds.
CohnReznick Advisory CEO David Kessler said: “Smith Schafer’s deep local roots, entrepreneurial spirit and trusted relationships perfectly complement CohnReznick’s national reach and industry expertise.
“Together, we can bring clients the insights that help create value, optimise performance and manage risk. I am excited about the difference we can make together for our people, our clients and our communities.”
