Indianapolis-based accounting firm Umbaugh has announced another acquisition of an Ohio-based business. The deal for Prism Municipal Advisors LLC follows the addition in May of ACI Advisors.
Umbaugh says Prism has been an advisor on more than $11.2 billion since its founding 14 years ago.
Umbaugh Managing Partner Todd Samuelson says "when Umbaugh acquired ACI Advisors in May, we expected our Ohio presence to grow. We are excited to add Jim Hargrove, a principal and co-owner of Prism Municipal Advisors, as a principal of Umbaugh. He is a highly experienced financial advisor who brings practical, hands-on experience to every aspect of a financing transaction."
The firm has offices in Indianapolis and Mishawaka, as well as Lansing, Michigan and Columbus, Ohio, which is the home of both ACI and Prism. The company has 90 employees throughout the Midwest.
Samuelson says "the Umbaugh management team will continue to consider other merger opportunities as the value of municipal advisors is increasingly recognized."
Prism Principal and co-owner Jim Hargrove will become a partner with Umbaugh.
The company advises a wide range of clients including municipal governments, utilities, schools, libraries, hospitals and airports.