Cerity Partners Expands with Fishman Block + Diamond Acquisition
Deal News | Dec 17, 2024 | Lightyear Capital
Cerity Partners, a leading independent wealth management firm in the United States, announced a strategic partnership with Fishman Block + Diamond, LLP (FBD), an accounting, tax, and business advisory firm based in Encino, California. This merger is part of Cerity Partners' efforts to enhance its tax offerings and provide an expanded suite of services to high-net-worth clients, particularly in the key market of Los Angeles. With FBD joining the Cerity family, the firm will now be known as Fishman Block + Diamond, by Cerity Partners. This collaboration will bring FBD's exceptional service to Cerity Partners' clientele, exemplifying a commitment to client-first strategies under the leadership of CEO Kurt Miscinski. The partnership incorporates 46 new professionals into Cerity Partners, aims to maintain the client experience that FBD's clients have come to expect, and seeks to offer long-term stability and growth for FBD's team. Republic Capital Group played a role as financial advisor, while Hunton Andrews Kurth provided legal advice.
Sectors
- Wealth Management
- Accounting and Tax Advisory
Geography
- United States – Both Cerity Partners and Fishman Block + Diamond LLP are based in the United States.
- California – Fishman Block + Diamond LLP is based in Encino, California, reflecting the geographical focus of this acquisition.
Industry
- Wealth Management – Cerity Partners operates within the wealth management industry, providing services to high-net-worth individuals, families, and organizations.
- Accounting and Tax Advisory – Fishman Block + Diamond operates in the accounting and tax advisory sector, offering services such as tax planning and business management for high-net-worth clients.
Financials
- – The financial terms of the transaction between Cerity Partners and Fishman Block + Diamond were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cerity Partners | Bidding Company | Company | An independent wealth management firm acquiring Fishman Block + Diamond to expand its tax services. |
| Fishman Block + Diamond, LLP | Target Company | Company | An independent tax and accounting advisory firm being acquired by Cerity Partners. |
| Lightyear Capital | PE Firm | Company | A private equity firm likely backing Cerity Partners in the acquisition. |
| Republic Capital Group | Financial Advisor | Company | Served as a financial advisor to Fishman Block + Diamond during the transaction. |
| Hunton Andrews Kurth | Legal Advisor | Company | Provided legal counsel to Fishman Block + Diamond in the acquisition process. |