Squar Milner LLP, a Top 100 Firm, is combining with DZH Phillips LLP, one of the largest majority women-owned firms, to create one of the biggest firms in California.
Squar Milner is based in Newport Beach, Calif., and also has offices in Los Angeles, San Diego, Encino, Silicon Valley and the Cayman Islands. DZH Phillips has offices in San Francisco, Oakland, San Rafael, and San Mateo.
Financial terms of the deal were not disclosed. Squar Milner had over $77 million in annual revenue, while DZH Phillips had $20 million in revenue. Squar Milner will be contributing more than 350 people, including 48 partners, to the combined firm, while DZH Philips has 110 people, including 10 partners.
The combined firm will operate under Squar Milner’s name, making it one of the top four firms based in California, top five firms based in the West, and one of the top 50 firms in the U.S. Squar Milner ranked 58th on Accounting Today’s 2017 list of the Top 100 Firms.
Squar Milner recently merged in a Silicon Valley accounting firm, Loomis & Co. CPAs, based in Campbell, Calif. The latest deal will enable it to be one of the few California-based firms to have substantial operations in both the southern and northern parts of the state.
“We have worked for the last decade to establish ourselves as one of the preeminent firms based in California,” said managing partner Steve Milner in a statement. “We absolutely needed to have sizable operations in Northern California. We have a robust client base in technology, who are obviously active in the Bay Area. We are very excited about our combination with DZH Phillips. They have a sophisticated client base, fantastic people and great coverage of the Bay. We truly believe we are creating something wonderful and that there is something very special about a California firm.”
DZH Phillips managing partner Lawrence B. Wood said the combination would give its people expanded opportunities to grow and provide clients with innovative and specialized resources and services.
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