ALABAMA
Tidwell spins out from Reznick
Details: Reznick Group's Birmingham office has formed a separate firm, Tidwell Group, managed by the office's former managing principal, Barry Tidwell. All 25 employees of the office, including four partners, have joined the new firm. Tidwell said he chose to spin off the firm because Reznick has been focusing on major markets such as Los Angeles and Chicago; his group will concentrate on Birmingham and Alabama as a whole.
CALIFORNIA
GROCO merges in Ronald Boyer
Details: Greenstein Rogoff Olsen & Co. LLP has merged in Walnut Creek-based Ronald G. Boyer Accountancy Corp. Boyer and his four-person team will join GROCO's Danville office, doubling the size of that location.
ILLINOIS
Sikich buys Levi Littell Herbst
Details: Sikich LLP has acquired Levi Littell Herbst & Co., a boutique M&A advisory firm. Managing directors Laurence W. Levi and Richard A. Herbst will join Sikich as partners and bring all of their staff with them. Levi Littell's offices will remain in Chicago and New York.
PENNSYLVANIA
Marcum merges in Margolis
Details: Marcum LLP has merged in Margolis & Co., a 70-person CPA firm in the Philadelphia area. Marcum will now operate from Margolis's former offices in Bala Cynwyd and Newtown.
LECG to merge with Smart
Details: LECG plans to merge with Pennsylvania-based Smart Business Advisory & Consulting in a deal valued at $25 million in cash and $39.9 million in stock. Smart CEO Steve Samek will become CEO of the combined company. As part of the deal, LECG will receive a $25 million cash investment from Smart's majority shareholder, Great Hill Partners, and LECG will issue approximately 10.9 million shares of common stock having a value of $39.9 million to acquire Smart's outstanding shares. LECG will also issue approximately 6.3 million shares of preferred stock at $3.96 per share in exchange for the cash investment. The deal is expected to close in the fourth quarter. (For more, see cover story.)
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