Professional services firm CohnReznick has completed a strategic combination with PIASCIK & Associates, a tax firm based in Richmond, Virginia. The deal, which became effective July 1, integrates the PIASCIK team into CohnReznick’s platform, expanding the firm’s geographic footprint and bolstering its specialized tax practices.
The acquisition brings PIASCIK’s experience in international tax and financial strategies for high-net-worth individuals and athletes to CohnReznick. These capabilities will be folded into CohnReznick’s existing Private Clients Services and International Tax practices. The addition of a Richmond office expands the firm’s mid-Atlantic region, which already includes locations across the Metro DC area, Baltimore, Charlotte, and South Florida.
As part of the transaction, PIASCIK partners Steve Piascik and Ryan Losi will join CohnReznick. Piascik will serve as the Richmond Office Managing Partner, while Losi will join the firm’s international tax team.
“As the business landscape becomes increasingly complex and our profession continues to change, we sought a new platform to help us secure our next chapter of success,” said Piascik.
The move is part of a larger growth strategy for CohnReznick. According to Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms, CohnReznick has become more active in the M&A space since its partnership with private equity firm Apax Partners earlier this year.
“PIASCIK is a high performing firm that was much sought after,” Koltin commented, noting that he would not be surprised to see CohnReznick announce additional deals with other accounting and advisory firms before the end of the year
David Kessler, CEO of CohnReznick Advisory LLC, stated that cultural alignment was a key factor in the decision. “The PIASCIK team shares our commitment to driving a culture committed to outstanding client service, rewarding our people, and helping to make a difference in the many communities we serve,” he said.
SOURCE: CohnReznick
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.