SolomonEdwards acquires Steele Consulting
SolomonEdwards acquires Steele Consulting
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SolomonEdwards, a professional services firm, acquired Steele Consulting, a national tax consulting firm. The deal will enable SolomonEdwards to offer an expanded suite of tax support services, the company said.
“Their high standards of service and deep expertise are the exact qualities we want to offer our clients as we expand our firm,” SolomonEdwards CEO John Gulnac said in a press release. “The addition of an accomplished firm like Steele to SolomonEdwards bolsters our diversified suite of accounting and finance solutions.”
SolomonEdwards provides professional services and operates in the middle between staffing firms supplying workers on a time-and-materials basis and Big Four consulting firms. It’s a portfolio company of private equity firm Renovus Capital Partners.
The acquisition of Steele follows another recent acquisition by SolomonEdwards of Dominion Advisory Group, an anti-money laundering advisory and financial crimes consulting firm.
Steele Consulting was founded in 2005 by CEO Jay Steele, who will join SolomonEdwards as a partner. In addition, Steele Consulting’s 35 full-time employees will transition to SolomonEdwards.
“Combining our expertise with SolomonEdwards opens up exciting avenues for growth and innovation, benefiting both our clients and our tax professionals,” Steele said in a press release.
Terms of the transaction were not announced.
“We have gotten to know Jay and the Steele team over multiple years and have established a strong foundation for this partnership,” Lee Minkoff, managing director of Renovus Capital Partners, said in a press release. “The combination of SolomonEdwards’ national reach within the office of the CFO and Steele’s scalable tax advisory services platform opens up a massive opportunity for our company and our clients.”