M&A roundup: Withum and Whitley Penn expand

Accounting

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Details: Withum, a Top 25 Firm based in Princeton, New Jersey, added OUM & Co. LLP, a firm headquartered in San Francisco, effective July 15.

Financial terms of the deal were not disclosed. Withum ranked No. 24 on Accounting Today’s 2020 list of the Top 100 Firms. The firm has annual revenue of $300 million, 15 offices, over 130 partners and1,350 team members. OUM has annual revenue of $20 million, 11 partners and approximately 80 team members. They will remain at their locations in San Francisco and Carlsbad, California, after joining Withum.

“We are very enthusiastic about joining forces with Withum and believe this union will take us to the next level in client service and career opportunities for OUM team members,” said OUM managing partner Chris Millias in a statement Monday. “For over 45 years, OUM’s continued commitment to providing unmatched service has enhanced the delivery of the quality expertise our clients have come to expect. OUM and Withum share a commitment to the highest level of integrity, as well as a nimble, flexible and innovative culture and approach to problem-solving.”

The deal will help Withum expand on the West Coast. “Our clients will now have direct access to a larger network of national and international resources, deeper technical expertise and specialized knowledge in additional service areas,” said Doug Pallotta, the newly appointed partner-in-charge of the San Francisco and Carlsbad offices of Withum, in a statement. “With over 1,350 team members located around the country, OUM’s existing office locations further amplify Withum’s current West Coast presence.”

In January, Withum merged in the Doyle Carden Group, a New York-based private investigative firm. Last year, 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.

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