WithumSmith+Brown expanded its presence in the Washington, D.C., area Tuesday after Bond Beebe, a firm based in Bethesda, Md., joined its practice.
In addition to the Bethesda location, the combination with Bond Beebe will give Withum an office in Arlington, Va. Bond Beebe will be adding 14 partners and 80 additional team members to the combined firm. Withum, based in Princeton, N.J., has 110 partners and approximately 750 other team members in 14 offices.
Financial terms of the deal were not disclosed, but Bond Beebe has annual revenue of $17 million, while Withum has annual revenue of $170 million. Withum ranked 26th on Accounting Today’s 2017 list of the Top 100 Firms.
Withum has been looking to build its presence in the Beltway. “We have been seeking the right strategic partner in the Greater D.C. area, and we found the perfect match with Bond Beebe in terms of expertise, geographic location and culture,” said Withum managing partner and CEO Bill Hagaman in a statement. “Their expertise in servicing privately held businesses, not-for-profit organizations, government agencies, employee benefit plans, labor organizations and high net-worth individuals aligns perfectly with Withum’s current practice areas.”
Bond Beebe managing partner David Dorsey believes the two firms’ combined resources will bring a new array of services to his clients. “Withum’s considerable resources will help us serve our clients better,” he said in a statement. “We can now offer enhanced technology and advisory services such as digital workplace solutions and cyber and information security services, as well as robust valuation and international tax services.”
The two firms serve a variety of different industries, including technology, finance, health care, law, government, labor unions, hospitality, life sciences, employee benefits, not-for-profits, education, government, manufacturing, consumer products, construction and real estate.
In May, Withum combined practices with the IT consulting firm Portal Solutions and, in April, it united its brand with PWM Advisory Group to form Withum Wealth Management.
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