Armanino Expands Into Midwest With IPA 100 Acquisition

San Ramon, Calif.-based IPA 100 firm Armanino LLP is expanding into the Midwest by acquiring St. Louis-based IPA 100 firm Brown Smith Wallace. The deal will become effective on Aug. 1.

Brown Smith Wallace clients will have access to Armanino’s technology consulting solutions for every major finance function. Armanino has made significant investments in leading-edge technology and digital infrastructure including its AI Lab, blockchain and digital assets practice, client data protection and cybersecurity. Brown Smith Wallace will add its expertise in the private equity, financial services, insurance and manufacturing industries, as well as in specialty services such as construction audit, property tax compliance and consulting and cost segregation.

“We’ve admired the Brown Smith Wallace team, their vision and their execution for years, and believe this combination will provide a springboard for us in the Midwest,” says Armanino CEO Matt Armanino. “In addition to their core accounting work, they have boldly expanded their advisory services offerings to include business performance consulting and construction audit, which are transformative solutions clients need to accelerate growth.”

Brown Smith Wallace MP Tony Caleca will assume the role of Midwest market leader and continue to lead its St. Louis offices, which will also serve as the Midwest market hub for Armanino. He will also be a member of the Armanino operating committee, the firm’s primary leadership group.

“Geographic expansion has been at the forefront of our strategic plan for several years, and joining Armanino allows us to accelerate this effort,” says Caleca. “Combining our collective talents and resources will create a truly unique firm in our industry that benefits our clients, colleagues and the communities were serve. This is truly a partnership of opportunity.”

In addition to Caleca, several other Brown Smith Wallace partners and professionals will assume leadership roles with Armanino, including:

  • Bryan Graiff, PIC of transaction advisory and litigation support and private equity industry group leader, will be the transaction advisory and private equity industry leader.
  • Alan Fine, tax partner and insurance industry group leader, and Todd Goldenhersh, an audit partner, will join the leadership of the insurance industry team.
  • Steve Schueppert, PIC of audit and manufacturing and distribution industry group leader, and Kevin Boeving, a tax partner, will join the leadership of the manufacturing and distribution industry team.
  • Lincoln Gray, an audit partner and financial services industry group leader, and Amy Ribick, an advisory partner, will join the leadership of the financial services team.
  • Karen Stern, PIC of the entrepreneurial services group, and Caleca are joining the board of directors of the Armanino Foundation.

St. Louis will be home to the second-largest concentration of Armanino employees and together both firms will have a projected annual revenue of $460 million in 2021.

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