The area’s largest, locally based accounting firm has formally created a separate division to handle mergers and acquisitions and corporate finance work.
Gary Gibbs, executive vice president of Allen, Gibbs & Houlik, said Wednesday that AGH Advisors LLC makes official a line of transaction advisory work the firm has done for a number of years and that has progressively grown.
“Ivan West, one of the firm’s founders, was an adviser to the Beech family when it sold the family business,” Gibbs said. “We’ve kind of got a deep, rich tradition in this area.”
Specifically, AGH Advisors will work in mergers and acquisitions, re-capitalization, corporate restructuring, refinancing, generational transfers and other work, such as companies adding partners, he said.
The division has seven staff members and is overseen by Gibbs.
“We generate about 20 percent of the firm’s total activities,” he said.
As part of the formalization, the staff has moved to a single floor at AGH’s main offices in the Epic Center downtown.
A lot of the work it does is highly complex, especially when it comes to mergers and acquisitions.
“You get into the nuts and bolts and weeds of combining these companies, and you find out there’s just a lot of work,” Gibbs said. “And it’s good work.”
He said he’s seeing more work in particular for companies that are transitioning ownership from one generation to the next. It used to be that business owners wouldn’t transfer their businesses’ ownership until the owners were well into their 70s.
“I think a lot of baby boomers are transitioning their business at a younger age,” Gibbs said.