Andersen Group Acquisitions 2026: 19 Deals, One Platform

Last updated: November 2026 · Status: figures as of 2 November 2026

Andersen Group acquisitions reached 19 signed deals in 2026, with 16 completed by 2 November. The signed businesses represent about $190 million in combined annualised revenue.

Andersen Group (NYSE: ANDG) remains predominantly tax-led. Its deals are adding legal, consulting, valuation, corporate finance and artificial intelligence capabilities to that base, according to its 2 November closing announcement.

At a glance

Attribute	Detail
Deals signed in 2026	19
Deals completed	16, as of 2 November
Deals pending	3, unnamed by Andersen; closing announcements point to Mexico, Italy and Merchantec
Combined annualised revenue	About $190 million of revenue, not purchase price
Regions covered	United States, Europe, wider Americas, Africa, Asia-Pacific
Capabilities added	Tax, legal, consulting, valuation, corporate finance, AI, cybersecurity
2026 revenue guidance	$980 million to $1 billion, reaffirmed in August
Expected 2026 inorganic revenue	$25–30 million, cut from about $55 million in August
Next update	Third-quarter results, 12 November 2026

How many Andersen Group acquisitions have been signed in 2026?

Andersen has signed 19 acquisitions in 2026 and completed 16 of them as of 2 November. Together, the 19 businesses represent about $190 million in annualised revenue. That figure measures the revenue of the firms being bought, not the price Andersen is paying. More signings are expected in the fourth quarter.

The pace picked up sharply after the summer. Closings rose from eight in August to 16 by early November.

Date (2026)	Signed	Closed	Annualised revenue	Development
2 November	19	16	About $190 million	Netherlands, Clareo and Endeavor closed
15 October	19	13	About $190 million	SPR, BD Emerson, Daniels and Zenger Folkman closed
7 October	19	9	About $190 million	Italy, Netherlands and South Africa deals announced
12 August	16	8	More than $130 million	Second-quarter results

Andersen's announcements do not give a total purchase price. Many deals were paid for with a mix of cash and shares. A Form 8-K filed on 15 October says the stock issued or expected for seven named deals equals about 6.4% of its outstanding Class A common stock.

Which firms has Andersen acquired in 2026?

Andersen's 2026 deals span the United States, Europe, the wider Americas, Africa and Asia-Pacific. Six US consulting firms form the largest single group. The international targets are mainly tax, legal and valuation practices, alongside South African investment bank Merchantec.

Region	Target	Business	Status at 2 November
United States	SPR	AI, software, cloud and data	Closed
United States	BD Emerson	Cybersecurity, compliance and privacy	Closed
United States	Daniels Consulting Group	Organisational transformation	Closed
United States	Zenger Folkman	Leadership development	Closed
United States	Clareo Partners	Innovation and growth strategy	Closed
United States	Endeavor Management	Enterprise transformation	Closed
Europe	Andersen Tax Limited, UK	Tax	Closed
Europe	Firm in Ireland	Tax	Closed
Europe	Firm in Switzerland	Tax	Closed
Europe	Andersen in the Netherlands	Corporate finance and valuation	Closed
Europe	Andersen in Italy	Corporate advisory law firm	Pending*
Americas	Business in Canada	Business combination	Closed
Americas	Two firms in Uruguay	Tax and law	Closed
Americas	Andersen Mexico	Tax and legal	Pending*
Africa	Two firms in Nigeria	Tax and consulting	Closed
Africa	Merchantec, South Africa	Investment banking	Pending*
Asia-Pacific	Firm in New Zealand	Tax	Closed

*Andersen has not named its three pending deals. These are the signed deals with no closing announcement to date.

The smaller international closings are listed in Andersen's second-quarter results release, which identifies them by country and practice area.

Why is Andersen bringing its global network in-house?

At least 10 of the 19 targets were already Andersen-branded or affiliated firms. Buying them moves separate member and collaborating firms into one listed company. Andersen says this creates cross-selling opportunities and makes each business more valuable as part of its platform. The strategy also adds specialist skills beyond tax.

The 15 October filing describes firms in Mexico, the UK and the Netherlands as Andersen Global member firms. It calls Merchantec an Andersen Global collaborating firm, a relationship that began in November 2024. Five US consultancies are identified as Andersen Consulting member or collaborating firms, and Andersen in Italy already carries the name.

The true count may be higher. Andersen's 10 August announcement also groups Clareo with its Andersen Consulting firms, and the status of the smaller international targets is not spelled out.

The deals go well beyond geography. They add:

• Artificial intelligence and data: SPR
• Cybersecurity and technology risk: BD Emerson
• Valuation and M&A advisory: Andersen in the Netherlands, its first dedicated valuation business in Europe
• Investment banking: Merchantec, its first such firm in South Africa
• Business transformation: Clareo, Endeavor, Daniels and Zenger Folkman
• Legal: firms in Italy, Mexico and Uruguay

The runway is long. Andersen reports relationships with more than 400 Andersen Global and Andersen Consulting member and collaborating firms. Its listed business employed just 2,690 people at 30 June, while the wider platform counts over 50,000 professionals. International operations were only 2.5% of second-quarter revenue.

Consolidation among independent tax advisers is not unique to Andersen, as Ryan's $400 million purchase of Svalner Atlas shows. Businesses reassessing their advisers can compare tax and advisory firms in the TaxSpoc Directory.

When will Andersen's acquisitions show up in revenue?

Much of the revenue will arrive after 2026. In August, Andersen cut its expected 2026 inorganic revenue to $25–30 million from about $55 million because closings were taking longer than planned. It kept full-year revenue guidance at $980 million to $1 billion, saying organic growth would offset the shortfall.

Management blamed regulatory requirements and the time needed to structure deals in new jurisdictions. It also estimated that at least $100 million of annualised revenue from the deals then signed would not reach 2026 results. Acquisitions contributed $5.5 million of second-quarter revenue, while organic growth was 20.6%.

The delays are visible in the remaining deals. Andersen said in August that the Mexico deal should close in the fourth quarter of 2026. The October filing moved Mexico to the first quarter of 2027 and expects Merchantec in the same quarter. Italy has no separate published date.

What to watch in Andersen's third-quarter results

Andersen reports after the market closes on 12 November. Five points will show how the strategy is progressing:

1. Inorganic revenue: whether the $25–30 million estimate changes, now that more deals have closed.
2. Full-year guidance: whether the $980 million to $1 billion range holds.
3. Pending deals: whether Mexico, Italy and Merchantec remain on schedule.
4. New signings: how many deals Andersen adds in the fourth quarter.
5. Integration costs: whether newly acquired firms weigh on margins.

Can Andersen challenge the Big Four?

Not on scale, at least for now. Andersen's 2026 revenue guidance is $980 million to $1 billion, compared with $57 billion at EY and $74.5 billion at Deloitte. Its more realistic near-term position is as a listed, multidisciplinary alternative in tax-led advisory work, rather than a like-for-like rival.

Firm	Latest annual revenue	Period	Multiple of Andersen's guidance high end
Deloitte	$74.5 billion	Year to May 2026	About 75 times
PwC	$60.2 billion	Year to June 2026	About 60 times
EY	$57 billion	Year to June 2026	About 57 times
Andersen Group	$980 million to $1 billion	2026 guidance	Not applicable

KPMG has not yet reported its 2026 figure. The comparison is also imperfect. Big Four revenue is reported across global networks of member firms, while Andersen's guidance covers only its listed group.

Adding all $190 million of annualised acquired revenue would still leave Andersen below $1.2 billion. Its service list also omits audit, which alone generated $18.9 billion at EY. Andersen's opening is in areas where independence from an audit practice and a tax-led offer may appeal to clients. AI could also change how professional services firms are staffed and priced, which may narrow some advantages of size.

Andersen Group acquisitions in 2026 are less a bid to match the Big Four than an effort to turn a global network into a single listed platform. The closing timetable and integration results will decide how quickly that platform shows up in the numbers.

Frequently asked questions

How many acquisitions has Andersen completed in 2026?

Andersen had completed 16 of the 19 acquisitions it signed in 2026 as of 2 November. The most recent closings were Andersen in the Netherlands, Clareo Partners and Endeavor Management. Three signed deals remained pending on that date, and the company expects to sign more in the fourth quarter.

Does the $190 million show what Andersen paid for the firms?

No. The $190 million is the approximate combined annualised revenue of the 19 signed businesses. It is not acquisition consideration. Andersen's announcements do not give a total purchase price, although filings show that many of the deals combine cash with shares of its Class A common stock.

Which Andersen deals are still pending?

Three deals were pending as of 2 November. Andersen has not named them, but its closing announcements point to Andersen Mexico, Andersen in Italy and South Africa's Merchantec. An October filing expects Mexico and Merchantec to close in the first quarter of 2027. Each deal remains subject to closing conditions.

Why did Andersen buy firms that already used its name?

Member and collaborating firms are separate businesses, so their revenue did not belong to the listed company. Andersen Group acquisitions bring that revenue and those teams into one group. Andersen says ownership creates new business development and cross-selling opportunities by connecting each firm's clients and expertise to its global platform.

Is Andersen Group the same firm as Arthur Andersen?

No. Andersen Group traces its founding to 2002, the year Arthur Andersen's audit business collapsed, and says it builds on the traditions and culture of the former firm. Today's listed company provides tax, legal, valuation, global mobility and consulting services. Its shares trade on the New York Stock Exchange under the ticker ANDG.

Will Andersen make more acquisitions in 2026?

Andersen expects further signings in the fourth quarter. In August, management said it had enough active opportunities to potentially complete two to three transactions a month through the end of 2027, while remaining selective. It was also evaluating more than 27 consulting firms at various stages of discussion and integration.

Official sources: Andersen Form 8-K, filed 15 October 2026 · Andersen second-quarter 2026 results · Andersen investor press releases · EY fiscal 2026 global revenue