RGL Forensics, a Denver-based financial investigations company, has added Stahl Forensic and Valuation Experts, a Florida-based forensic accounting and litigation firm, effective July 1.
[IMGCAP(1)]As part of the deal, Stahl’s two principals, Briggs Stahl and Diane Womack, have joined RGL as partners and are bringing the rest of their team of approximately 12 to 15 people to the firm.
RGL Forensics specializes in financial investigations for the insurance, legal and corporate markets. “We’re not your typical accounting firm because we purely specialize and focus on forensic accounting,” said CEO Angela MacPhee. “We believe we’re one of the largest firms in the world to do so.”
RGL ranked 95th on Accounting Today’s 2016 list of the Top 100 Firms, with $38.5 million in annual revenue. MacPhee predicted Stahl would add 10 percent to revenue at the outset, with the opportunity for much more upside in the future.
RGL, which is nearly 20 years old, has 200 employees and now 34 partners, with the addition of Stahl and Womack. Most of the employees are accountants, consultants, economists and forensic technologists. The main offices are in the U.S. and U.K., but the firm operates on five continents.
The two firms had not worked together previously, but Stahl was a boutique firm that fit in with RGL’s growth plans for providing forensic investigations for law firms. “As part of our desire to continue to have more opportunities and growth within our legal market practice, I was looking for various boutiques and they came up in my search,” said MacPhee. “I was looking for a boutique that specialized in the legal market and also for a way to continue to strengthen our presence in Florida. We just added a Miami office this year, so with the addition of Orlando and Tampa, we have a great Florida presence. That was a bit of a gap for us in our U.S. practice.”
[IMGCAP(2)]Stahl specializes in high-stakes divorce cases that need valuation and forensic accounting services. Briggs is one of 28 chartered members in the U.S. in the business valuation and forensic accounting division of the American Academy of Matrimonial Lawyers. Stahl has more than 15 years of client service in Florida and other parts of the country.
“We were looking for individuals that focus on the legal market, and they have an excellent reputation with quite a diverse background of experience,” said MacPhee. “Both of the two partners are extremely skilled. They’re the leaders in their profession, and we look forward to having them as part of our partner group and adding to the leadership that we have.”
The culture and fit of the two firms also fit well together. “RGL’s focus on forensic accounting and our shared cultural and philosophical approach makes it a perfect match for our business,” said Briggs Stahl in a statement. “Stahl’s clients will benefit from the firm’s global scale, ability to put together teams across continents and in-house industry expertise. Joining with them also gives us the critical mass we need to grow as a business. We can now offer additional services to our clients—many of which we previously needed to outsource—thereby maintaining control of the high quality of service we provide, at all times.”
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