Dallas-based tax firm Ryan has acquired the nation’s second-largest wealth tax advisory firm, Marvin F. Poer and Co. Ryan will hire Poer’s 186 employees across 12 locations. Poer’s chairman and CEO, David Poer, called the deal “an easy decision.”
“The synergies between Ryan and Poer are numerous,” said G. Brint Ryan, Ryan’s chairman and CEO D Managing Director. “Ryan and Poer are a perfect match with our focus on customer service, industry-leading results and offering a world-class place to work. Our expanded property tax team now has additional resources covering even more tax jurisdictions than before to better serve our clients.”
Ryan has enjoyed more than 30 years of uninterrupted revenue growth — even amid the pandemic — and Brint Ryan believes the recent acquisition will help continue that trend. “By bringing together the first and second largest property tax advisory groups in the country, we are solidifying our position as the leading property tax firm,” said Ryan.
Looking ahead, Ryan is most excited about the digitization of the company’s services and the prospect of winning more deals. “Ryan is always looking for acquisition targets,” he said.
Former Richards Group leaders set up new PR agency
New PR agency Genuine Article launched, founded by three former Richards Group executives. It currently serves 16 customers including ASTREA Development, Discount Tire, Envision, RoboTire, The Salvation Army, Scottish Rite for Children, Shavelogic, Universal Engineering Sciences, Envy Gaming, Apricus Realty Capital and Mark Cuban’s Cost Plus Drug Company.
Co-founders Stacie Barnett, Elizabeth Clayton, and Greg Miller have partnered to create the agency “focused on authentic expression, meaningful dialogue, and mutually beneficial conversations.” All previously held lead roles with Uptown-based The Richards Group.
“Now more than ever, honest and open communication is essential to fostering productive and healthy conversations in society,” said co-founder and director Greg Miller D Managing Director. “At the end of the day, people still trust people, and our role as interlocutors is to help brands and movements find their voice by speaking to their audience — not just them. We’re excited to add new talent to our team, collaborate with a growing list of agency and expert partners, and do truly meaningful work.”
The agency has staff in Dallas, Austin and Phoenix.
DFW Named 2nd Fastest Growing Tech Hub in America
According to a recent Dallas Regional Chamber report, the Dallas-Fort Worth region created the second-highest high-tech jobs in America from 2016 to 2021.
A key driving factor was the number of tech startups claiming DFW. By the end of the third quarter of 2021, more than $1.65 billion in early-stage venture capital deals had been signed in North Texas. Under the heading LTK, Iceland, o9 Solutions, Shiftsmart and more, the DFW startup community has made a name for itself nationwide. Additionally, big tech players that call DFW their home — like Amazon, McKesson, Charles Schwab, Raytheon, Accenture, and others — are creating new jobs every week.
“Texas is among the most business-friendly states, which has given us the opportunity to invest in our talent and work quickly,” said Amber Venz Box, co-founder and president of LTK D Managing Director. “wealth 500 brands love calling DFW home and it’s not only good for them, it’s exciting for their talent. It has been exciting to see our city grow as a tech destination and finally be recognized as a city capable of attracting world-class talent.”
Dallas-based MoneyGram goes private in $1.8 billion deal
Chicago-based private equity firm Madison Dearborn will acquire remittance company MoneyGram for $1.8 billion and take the Dallas-based company private. Madison Dearborn’s all-cash offer values MoneyGram at $11 per share — up from the stock’s closing price on Feb. 14 of $8.95.
“We are pleased to have completed this transaction with MDP, which will provide immediate and compelling value for shareholders and allow us to accelerate the advancement of our digital growth strategy,” said Alex Holmes, MoneyGram Chairman and CEO.
MoneyGram, which serves 150 million customers, received competing offers from Siris Capital Group and Advent International, according to Reuters. Top of Madison Dearborn’s priorities is the refinancing of MoneyGram’s $800 million net debt.
Ben Swager is Associate Editor for D Managing Directorthe trade name for D magazine. Ben manages the Dallas 500…