Municipal finance advisory firm H.J. Umbaugh and Associates announced that it acquired Columbus, Ohio-based Prism Municipal Advisors LLC, bolstering the Indianapolis-based firm’s Midwest presence.
The value of the deal, which closed in September, was not disclosed. Prism was the second Ohio acquisition this year by Umbaugh, which took over Columbus-based ACI Advisors this spring.
The 60-year-old firm now has a foothold in four Midwest locations: Columbus; Indianapolis; Mishawaka; and Lansing, Michigan. It employs about 90.
“The Umbaugh management team will continue to consider other merger opportunities as the value of municipal advisers is increasingly recognized,” Umbaugh Managing Partner Todd Samuelson said in a statement.•