Top 20 accounting firm Armanino has entered the Utah market by acquiring Cooper Savas, a full-service public accounting firm based in Salt Lake City.
Financial terms of the deal weren’t disclosed. Cooper Savas’s team of 35 professionals, many of whom have backgrounds at Big Four accounting firms, will join Armanino.
“Cooper Savas is an exemplary firm that shows how focusing on culture, talent development, and quality service can build a highly successful practice,” Matt Armanino, CEO of Armanino Advisory, said in a statement. “We want the best of the best to join Armanino, and Cooper Savas is a firm that exemplifies that. Their addition to the firm brings incredible talent and exciting opportunities to deliver more for their client base as we expand our national footprint.”
Founded in 2011, Cooper Savas provides tax, accounting, and assurance services to clients across various industries, both within the Salt Lake region and nationally.
Beyond traditional tax, assurance, and audit services, Armanino says Cooper Savas’s clients will have access to the top 20 firm’s full suite of tax solutions for key areas such as international tax, R&D tax credits, sales and use tax, and state and local tax. Additionally, clients can take advantage of Armanino’s specialized consulting resources for corporate transactions, including mergers and acquisitions, initial public offering readiness, and strategic business planning.
“Since our founding we’ve prided ourselves on our ability to deliver a hands-on, thoughtful approach to clients, and we know that Armanino maintains that shared culture and commitment, making this a great opportunity for our firm,” said Phil Cooper, partner and founder of Cooper Savas. “Now we have access to Armanino’s extensive resources and innovative solutions, ensuring that clients can receive end-to-end support for their needs. We’re truly excited for what this partnership unlocks for our firm, our people, and our clients.”
Last October, Armanino said it had received a minority investment from Further Global Capital Management, a New York-based employee-owned private equity firm that makes investments in businesses within the financial services industry. The accounting firm said the investment supports its strategic growth into additional markets, improves the firm’s technology infrastructure, and provides additional resources.
In accordance with Armanino’s alternative practice structure, Armanino Advisory LLC, which provides tax, advisory, business consulting, and other non-attest services, is acquiring Cooper Savas’s non-attest assets, while Armanino LLP, which provides attest services as a licensed CPA firm, is acquiring Cooper Savas’s attest assets.
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