COLUMBUS, Ohio, May 26, 2015 /PRNewswire/ -- Umbaugh, a CPA firm and one of the largest and most active independent financial advisors to governmental units in the Midwest, has acquired ACI Advisors in Columbus, Ohio, which will now operate under the Umbaugh name.
Umbaugh was founded more than 60 years ago and has offices in Indianapolis, Mishawaka, Ind. and Lansing, Mich.
"We view this as a mutually beneficial combination," said Todd Samuelson, managing partner for Umbaugh. "Brian Cooper, former head of ACI Advisors, now has the resources of Umbaugh's team of 90 people in four offices, and Umbaugh gains a local presence to serve local governments in Ohio. Brian's clients and experience are an excellent match for the services we provide."
Cooper serves the Ohio public finance and economic development market and has worked with issuers large and small including the City of Akron, Development Finance Authority of Summit County, City of Wadsworth, the City of Grandview Heights and the City of Tallmadge. In the 12 years Cooper has been in public finance, he has worked on 120 project financings representing over $2.75 billion in financed projects, including the Eaton World Headquarters project in Cleveland in 2009, the Bridgestone/Firestone Headquarters and Tech Center in Akron in 2008 and three phases of redevelopment for Goodyear Tire & Rubber Company Global and North American Headquarters in Akron.
"Umbaugh has the best platform, resources and expertise in the industry which will help me to better serve my clients and help them succeed," said Cooper. "We also have a common business philosophy and share a commitment to excellent client service."
"Umbaugh is an unusual combination of a CPA firm and municipal advisors," said Samuelson. "The new SEC regulations requiring higher levels of quality control, oversight and records retention for bond issuers reflect the ethics and structure that have always been part of our discipline as a CPA firm. We expect our Ohio office to grow as the value of municipal advisors is increasingly recognized in this new regulatory environment."
Cooper graduated from the Ohio State University in 2001 and is registered as a municipal advisor with the Municipal Securities Rulemaking Board (MSRB) and the Securities and Exchange Commission (SEC). Cooper serves as a board member to the Ohio Tax Credit Authority and a trustee to the Worthington Education Foundation.
Umbaugh advises cities, towns, townships, counties, utilities, schools, libraries, hospitals and airports regarding financing, long-range planning, tax and utility rates, budgets, debt management, revenue forecasts, economic development and financial management.