West L.A. accounting firm RBZ announced Thursday it will join Armanino of San Ramon, the largest accounting and consulting firm based in California by revenue.
The combined firm will keep the Armanino name, though it will retain RBZ’s Wilshire Boulevard office, as well as the firm’s partners and staff. The deal gives Armanino its first office in Los Angeles, a market Armanino accountants have been visiting frequently.
The Bay Area firm is on track to generate $155 million in revenue this year, compared with RBZ’s expected $40 million. Together, they will have 750 employees. Though Armanino is a much larger firm and the new entity will keep the Armanino name, the firms are calling the deal a merger, not an acquisition. Financial terms were not disclosed.
The merger boosts Armanino’s presence in Southern California, where it presently has just one office – in San Diego. The firm also has offices in San Francisco, San Jose and Santa Cruz, as well as in the Chicago suburbs and in Portland, Ore.
Harvey Bookstein, a cofounding partner, said the deal will give RBZ clients access to Armanino’s expertise in business technology consulting. Analytics and cloud solutions are also strengths for the Bay Area firm. Aramanino, meanwhile, will pick up accountants with expertise in entertainment and legal services.
“We’ve got two elite teams coming together,” said Andy Armanino, managing partner of the firm his father founded. “And together we’ll blanket California and its largest markets.”
The merger will be effective as of Aug. 1, pending customary closing conditions.
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