Accounting Merger Shakes Up California Landscape
The state's largest independent accounting and business consulting firm based in California, Armanino, is merging with LA-based RBZ. Armanino managing partner Andy Armanino tells Bisnow the merger will create a $200M firm that now has cracked the top 20 of accounting firms in the country.
Andy tells us RBZ's largest niche is commercial real estate and development, and says that "it's one of the main overlaps that we're going to be focused on growing."
RBZ will keep its HQ at 11766 Wilshire Blvd, and its staff will remain in place. RBZ brings a plethora of commercial real estate clients, including TruAmerica, Post Investment Group, Bascom and a host of others. The merger is expected to close Aug. 1.
The combined companies will keep the Armanino name and have about 750 employees, with a roughly 50/50 split between accountants and consultants, Andy tells us. He added the NorCal firm has been looking to establish a stronger presence in SoCal for years, and it's just taken this long to find the right fit.