Marking its second acquisition on the East Coast in less than a year, San Ramon, Calif.-based IPA 100 firm Armanino LLP (FY20 net revenue of $354.8 million) is merging in Philadelphia-based tax firm Drucker & Scaccetti.
“Drucker & Scaccetti has its finger on the pulse of the market, understands the importance of being ahead of trends and has a 30-year track record of bringing strategy to all their engagements, demonstrating both the curiosity and tenacity anyone would want from an accounting partner,” says CEO Matt Armanino. “They share our values when it comes to putting clients and people first and finding the best solutions to help organizations, making them the perfect fit to expand Armanino’s presence into the region.”
Founded in 1990, Drucker & Scaccetti provides specialized tax, business and financial consulting to individuals, entrepreneurs, corporate executives, professional service firms and family-owned businesses under the banner of “The Tax Warriors.” When this deal closes on July 1, Drucker & Scaccetti will carry the Armanino name and will continue to operate out of its downtown Philadelphia and Scranton, Pa., offices.
“Since our founding, we’ve prided ourselves on our passionate advocacy on behalf of our clients, and they are who inspire us to constantly ask how we can find better ways to do things and bring forward the best solutions,” adds Geoffrey Mesko, partner and board chair at Drucker & Scaccetti. “Armanino shares our drive and vision and has the capabilities to help us best serve our clients with a comprehensive suite of services backed by deep industry knowledge and a focus on client goals.”
“Drucker & Scaccetti is known as Philadelphia’s ‘go-to’ firm when it comes to sophisticated high-net-worth tax clients and owner-operated businesses,” says Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the deal. “They have become a ‘melting pot’ for young, entrepreneurial talent and are known in the marketplace for the brilliant tax and business advice they provide to their clients, making them a perfect fit to help drive Armanino’s continued national expansion.”