SolomonEdwards Acquires Virtus Consulting

Advisory & Staffing Firm Embarks on Strategic Growth Program

PHILADELPHIA--(BUSINESS WIRE)--SolomonEdwardsGroup, LLC (SolomonEdwards), a national business advisory and professional staffing firm operating from seven major cities, today announced its recent acquisition of boutique consulting firm, DC Metro-based, Virtus Consulting. As part of its continuing commitment to serve the needs of the accounting and finance industries, SolomonEdwards completed its first acquisition effective October 1, 2012. Acquiring Virtus Consulting represents SolomonEdwards first acquisition.

“In addition to bringing his practice and clients to SolomonEdwards, Jim will work to grow and drive the existing SolomonEdwards consulting practice in the DC Metro area marketplace.”

This acquisition enables SolomonEdwards to immediately broaden and strengthen its talent base and expand services in the financial services and energy sectors. Like SolomonEdwards, Virtus Consulting, founded by Jim Garner, helps their clients achieve short- and long-term goals by providing financial advisory services, regulatory consulting and staffing solutions. Working with companies both large and small, Virtus has deep experience and expertise in the banking industry, energy sector, carve-outs and pre-IPO readiness services, S1 filings, and financial modeling for investors.

“I have known Jim Garner for several years and I am extremely excited to have him join us as Partner in our DC market,” said SolomonEdwards founder, President and CEO Edward S. Baumstein, CPA. “In addition to bringing his practice and clients to SolomonEdwards, Jim will work to grow and drive the existing SolomonEdwards consulting practice in the DC Metro area marketplace.”

In addition to expanding SolomonEdwards’ client base, the acquisition includes key subject matter experts who will help the firm broaden and deepen its ability to service its clients in the DC Metro area, as well as nationally. Jim Garner, founder and President of Virtus says, “I am excited about this merger as it is a natural fit of two companies that share the same core principals and many synergies. Both firms pride themselves on providing exceptional talent to the field and earning clients’ trust through hard work and integrity.”

Jim Garner has over 21 years of experience in the accounting and finance fields. He founded Virtus Consulting in 2007, served as their President and led their growth. Jim has worked extensively in the Energy, Financial Services, Telecommunications and Technology industries. He is a graduate of Villanova University, a licensed CPA, and a member of the Virginia Society of CPA’s.

Also joining SolomonEdwards from Virtus Consulting is executive David Scarfpin. Dave will help SolomonEdwards expand its reach into the Charlotte area, working with existing Virtus clients there as well as prospective clients. He brings 20 years of experience in managing, planning, performing, and monitoring accounting and auditing activities. Dave has extensive knowledge of GAAP, GAAS, Sarbanes-Oxley Act, IIA International Professional Practices Framework, Risk Assessment, Control Self-Assessment and Internal Control. Over the past 5+ years, he has worked on consulting engagements from SEC reporting to staff augmentation in the Assistant Controller and Controller roles. Dave passed the CPA exam in the state of Virginia, the CIA exam, and is a member of the AICPA.

About SolomonEdwardsGroup, LLC

SolomonEdwardsGroup, LLC (SolomonEdwards or SEG) is a national business advisory and professional staffing firm. Our customized solutions provide our clients with the right combination of talent and expertise to achieve their business objectives. We operate from seven major cities across the country and maintain a global network of partners to serve multinational clients.

About Virtus Consulting

Virtus Consulting is a professional services firm headquartered in the Metro DC area, specializing in accounting, accounting systems, internal audit and risk management and business process reengineering solutions. Virtus focuses on companies in all stages of growth – startup, pre IPO, publicly traded and wind-downs. Virtus serves companies in the Financial Services, Energy and Technology with the expertise, experience and work ethic to solve accounting/finance, audit and accounting systems needs.