Andersen Group Set Issuance Terms
Tax advisory firm Andersen Group sets terms for $165 million IPO
Andersen Group, a tax, valuation, and financial advisory firm formed by former Arthur Andersen partners, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $165 million by offering 11 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Andersen Group would command a fully diluted market value of $1.7 billion.
December 17, 2025 Tax advisory firm Andersen Group prices IPO at $16, the high end of the range
Andersen Group, a tax, valuation, and advisory firm founded by former Arthur Andersen partners, raised $176 million by offering 11 million shares at $16, the high end of the range of $14 to $16. At pricing, Andersen Group commands a fully diluted market value of $1.9 billion.
The predecessor was convicted in 2002
The Wall Street Journal reported last year the company was considering taking its U.S. business public. The Journal reported at the time that Andersen, which is part of Andersen Global, might acquire the company’s international units following the IPO.
Andersen Global emerged out of the now defunct Arthur Andersen, which at one time was a member of the Big Five group of accounting firms. Arthur Andersen was convicted in 2002 for obstructing the government’s investigation into Enron, one of its clients, an energy company that hid its losses from investors. The Supreme Court overturned the conviction in 2005.
Arthur Andersen stopped auditing public companies after its conviction, but has lived on through an association of consulting firms offering tax and legal services that are now called Andersen Global.
Andersen Group posted revenue of $731.6 million and net income of $134.8 million in 2024, according to SEC filings.
About Andersen Group
Founded in 2002 by a team of leaders and partners of the former accounting firm Arthur Andersen, Andersen Group provides independent tax, valuation, and financial advisory services to individuals and family offices, businesses, and institutional clients. As of September 30, 2025, Andersen had performed services for over 11,900 client groups across the US. The firm has a global reach, facilitated through its membership in Andersen Global, a Swiss association of over 300 member and collaborating firms.
Andersen Group was founded in 2002 and booked $811 million in revenue for the 12 months ended September 30, 2025. It plans to list on the NYSE under the symbol ANDG. Morgan Stanley, UBS Investment Bank, Deutsche Bank, Truist Securities, and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price the week of December 15, 2025.