CohnReznick buys Smith Schafer & Associates to expand to Minnesota

Core Insights - CohnReznick has acquired Smith Schafer & Associates, enhancing its presence in Minnesota and expanding its service offerings [1][4] - The financial details of the acquisition remain undisclosed, but it signifies CohnReznick's strategy of organic growth and selective mergers [1][3] - Smith Schafer, with three offices, 12 partners, and 89 employees, specializes in professional services across various sectors including construction and manufacturing [1][2] Company Strategy - CohnReznick aims to leverage its advisory, assurance, and tax capabilities to support clients in Minnesota, particularly in real estate, financial services, technology, and consumer manufacturing [2][3] - The acquisition aligns with CohnReznick's recent expansion efforts, which include new offices in San Francisco, Tampa, Tallahassee, and Richmond [3] - The partnership with Apax Funds has facilitated CohnReznick's growth strategy through both organic means and strategic acquisitions [3] Leadership Perspective - Michael Malugani, managing principal of Smith Schafer, expressed enthusiasm about the partnership, highlighting the potential for enhanced client value and career opportunities [2] - CohnReznick Advisory CEO David Kessler emphasized the complementary nature of Smith Schafer's local expertise with CohnReznick's national reach [3][4] - The collaboration is expected to provide clients with valuable insights to optimize performance and manage risk effectively [4]