US-based business advisory and consulting firm Riveron has announced the strategic acquisition of Effectus Group, an accounting advisory company.
This move is set to bolster Riveron’s presence in the San Francisco Bay Area and complement its core accounting, finance, and capital markets capabilities.
The acquisition is anticipated to enhance Riveron’s ability to serve the office of the CFO with premier advisory services.
Riveron also expect the partnership with Effectus Group to expand its accounting advisory services, bringing in a team with a strong background from “Big Four” accounting firms.
Furthermore, the managed accounting and risk advisory capabilities of Effectus Group are expected to enhance Riveron’s solutions for operational accounting and governance, risk, and compliance needs.
With the addition of Effectus Group, Riveron now boasts a team of more than 300 accounting advisory professionals among its 1,200 staff members.
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By GlobalDataRiveron CEO Sam Shaw said: “The partnership with Effectus Group represents a pivotal step in Riveron’s growth strategy.
“Their deep expertise in technical accounting, capital markets, and their strong presence in the life sciences and technology sectors complement our existing strengths. Together, we are well-equipped to provide unparalleled service to our clients, particularly in the fast-evolving venture capital and public markets spaces.”
Effectus Group CEO Mike Montgomery will take on a senior leadership role at Riveron. He will also retain significant equity ownership in the combined Company.
Montgomery said: “Joining forces with Riveron allows us to accelerate our growth and expand our service offerings to a wider audience.
“Our cultural alignment, combined expertise, and shared passion for helping our clients succeed make this a natural fit. We are excited to continue our work in the technology and life sciences sectors while also leveraging Riveron’s strengths in private equity and broader office of the CFO capabilities.”
Financial advisory services for the transaction were provided by Guggenheim Securities and Blue River Financial Group, with Baker McKenzie and Haynes Boone serving as legal advisors to Riveron and Effectus Group, respectively.
Recently, Riveron acquired Yantra to expand its business transformation and technology solution offerings.
