PHILADELPHIA – December 3, 2024 – SolomonEdwards, a national professional services firm offering financial, operational and technology consulting along with operations support, today announced the acquisition of national tax consulting firm Steele Consulting (“Steele”). Effective immediately, SolomonEdwards clients gain access to an expanded suite of tax support services across state, local, federal and international jurisdictions.
Founded by Jay Steele in 2005, Steele Consulting has established a strong track record of helping Fortune 1000 companies navigate complex tax regulations, strategically address the tax consequences of business transactions and maintain compliance with relevant statutory frameworks. Following this acquisition, Steele Consulting will complement SolomonEdwards’ accounting and finance operations practice, working directly with tax department heads and extending its support to the office of the chief financial officer (CFO).
“We looked at the work that Jay and his team have accomplished and immediately identified tremendous synergies between our firms,” said John Gulnac, CEO of SolomonEdwards. “Their high standards of service and deep expertise are the exact qualities we want to offer our clients as we expand our firm. The addition of an accomplished firm like Steele to SolomonEdwards bolsters our diversified suite of accounting & finance solutions.”
Jay Steele will join SolomonEdwards as a partner, demonstrating his long-term commitment to the business. All 32 full-time employees will also transition to SolomonEdwards, ensuring continuity of service for existing Steele clients. These clients will now gain access to expanded support across other critical business areas, including finance, operations and project management.
“Our philosophy has always been to hire exceptional tax professionals to provide the highest level of service to our clients. This acquisition, along with the continued retention of our clients and consultants, demonstrates our remarkable success,” said Jay Steele, founder and CEO of Steele Consulting. “Combining our expertise with SolomonEdwards opens up exciting avenues for growth and innovation, benefiting both our clients and our tax professionals.”
The Steele acquisition marks a strategic step in SolomonEdwards’ ongoing expansion as a national platform company, reinforcing its commitment as a leading professional services provider focused on the office of the CFO. It underscores the firm’s evolution from a regional consulting and staffing business into a respected industry leader with national reach.
“We have gotten to know Jay and the Steele team over multiple years and have established a strong foundation for this partnership,” added Lee Minkoff, Managing Director of Renovus Capital Partners, SolomonEdwards’ private equity backer. “The combination of SolomonEdwards’ national reach within the office of the CFO and Steele’s scalable tax advisory services platform opens up a massive opportunity for our company and our clients.”
This marks the second acquisition in as many months by SolomonEdwards, who recently announced the purchase of U.S.-based anti-money laundering advisory and financial crime consulting firm Dominion Advisory Group. Terms of the transactions were not disclosed.
To learn more about SolomonEdwards and how it helps businesses find better ways to work, please visit our services page.
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About SolomonEdwards
Founded in 1999, SolomonEdwards is a national professional services platform firm specializing in financial, operational and technology consulting and support. We help organizations find better ways to work by delivering exceptional talent, proven project delivery methods and custom solutions tailored to each client’s needs. By leveraging deep industry expertise and cross-functional capabilities, we bring the right people and expertise together to turn business challenges into value-creation opportunities. For more information about how SolomonEdwards can support your business objectives, please visit our services page.
About Steele Consulting
Steele Consulting LLC is a tax advisory firm specializing in customized tax compliance, accounting and technology services. They provide on-demand expertise across areas like state and local tax, international tax, and tax automation, aimed at helping businesses address complex tax challenges efficiently. Steele Consulting’s seasoned professionals bring immediate value, allowing companies to focus on growth while ensuring tax compliance and strategic advisory needs are met. For more information, please visit steeleconsultingllc.com.
About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is a lower middle market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $2 billion across its sector focused funds. The firm’s current portfolio includes over 30 U.S. based businesses specializing in education and training, healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience within the industry and access to debt and equity capital to make operational improvements, recruit top talent, pursue add-on acquisitions and oversee strategic growth initiatives. Learn more at www.renovuscapital.com.
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