M&A roundup: Firms merge and demerge
Details: WithumSmith+Brown PC, a Top 25 Firm based in Princeton, New Jersey, has expanded in Florida by merging in Martinez & Associates, a firm in Winter Springs, Florida that focuses on clients in the automotive and government-contracting sectors.
As part of the deal, Martinez’s four team members will join Withum’s Orlando office on Jan. 1, 2023. Financial terms of the deal were not disclosed. Withum ranked No. 24 on Accounting Today’s 2022 list of the Top 100 Firms. The firm has 20 offices and annual revenue of $450 million.
“We are very enthusiastic about joining forces with Withum and believe this union will take us to the next level in client service,” said Martinez & Associates managing partner Jorge Martinez in a statement Friday. “Martinez & Associates and Withum share a commitment to providing world-class service to businesses in Florida, particularly those in the automotive and government contracting industries. This was essential in our decision to join our practice with Withum, and we look forward to continuing to service our clients under the Withum brand.”
His staff will be working with Withum’s government contractor and auto dealership service teams.
“We’re thrilled to welcome Martinez & Associates to our team,” said Russell Goldberg, partner-in-charge of Withum’s Orlando office, in a statement. “We’re looking forward to collaborating with them and adding their expertise to our repertoire, growing our local and industry practices, particularly the automotive and government contractor teams.”
In February, Withum expanded to the Los Angeles area by merging in Martini Partners, a firm based in Encino, California. Withum also did a number of M&A deals last year. Last November, Withum added Glick & Associates, a firm based in San Francisco, and Restivo Monacelli in Providence, Rhode Island. Last October, Withum added Maffei, Masiello & Co., a firm based in Mendham, New Jersey. In July, it added OUM & Co., a firm headquartered in San Francisco. In January, Withum merged in the Doyle Carden Group, a New York-based private investigative firm.
