M&A roundup: Schneider Downs expands

Schulman Lobel LLP, a New York-based accounting firm, acquired the tax compliance division of DFP Partners, and merged with Tanton Grubman CPAs LLP and Steinberg Shebairo LLP, also in New York.

The three recent mergers and acquisitions added over $7 million in billings and more than 30 new employees to Schulman Lobel, including five new partners. The firm’s total revenue will be $20 million, and it will have 15 partners and 74 staff members, up from $12.7 million before the deals.

The acquisition of DFP Partners’ tax compliance division added more than 100 high-end tax clients to Schulman Lobel’s roster. The deal, which took effect in January, was facilitated by Robert Fligel of RF Resources LLC.

“We are excited to add the expertise and experience of the DFP team to our firm,” said Schulman Lobel managing partner Norm Schulman in a statement. “This acquisition allows us to strengthen and expand our tax advisory and compliance services and offer our clients an even deeper bench.”

Tanton Grubman CPAs LLP specializes in high-net-worth clients, cross-border taxation, entertainment and lifestyle brands, startup businesses and entrepreneurs, business structuring considerations and financial services. “This merger was a natural, as we are similar in many ways but fill in the other’s needs,” said Tanton Grubman managing partner Robert Grubman in a statement. 

The merger adds a music and fashion practice to Schulman Lobel’s existing roster of entertainment clients.  “The teams joined together seamlessly, having sparked synergies early on,” said Tanton Grubman partner Deborah Chichester in a statement. “We had begun to collaborate and share ideas long before we officially merged, and we are now working together as one solid firm.” 

Chichester, Grubman and David Barrett are joining Schulman Lobel as partners from Tanton Grubman.

Steinberg Shebairo serves commercial clients in the service industry (including law, public relations and event production), high-end retail establishments, and nonprofit charitable foundations. Like Schulman Lobel, Steinberg Shebairo also serves an arts and entertainment industry client base, including performing artists, producers, and creative artists, as well as recording, theatrical, and media production companies. As with the DFP Partners acquisition, the merger was facilitated by Robert Fligel of RF Resources.

“The Schulman Lobel mergers enhance and fortify our ability to provide the highest level of service to our clients, to attract and retain quality and experienced personnel, and to offer a broad range of services,” said Steinberg Shebairo managing partner Jeremy Steinberg in a press release. “As a combined organization, we deepen our strengths, allowing us to continue to serve our existing client base while also providing the resources necessary to evolve in this ever-changing world.”