The PFM Group has acquired SDM Advisors, Inc., an independent advisory firm in the state of Washington, and added three new public finance professionals to the firm’s Seattle office.
The acquisition will help PFM in its continued expansion within Washington State and the Northwest region, PFM managing director and chief executive officer, John Bonow, said in the company’s announcement Thursday morning.
In addition, Susan Musselman, SDM Advisors president, will join PFM as a director. Her colleagues Fred Eoff and Johanna Roodzant will also join the firm.
The three will work with PFM professionals already active in the Northwest and will continue to serve clients from PFM’s office in Seattle, Washington, which will now have 10 employees.
“This alliance not only enhances PFM in the Washington State marketplace, further bolstering our presence in the Northwest, but also strengthens our client service capabilities throughout the region,” said PFM managing director Peter Miller, who heads up the company’s financial advisory practice in the West.
SDM Advisors was formed in 1996, initially as Susan D. Musselman, Inc., and is a provider of financial advisory services to municipal and governmental agencies throughout the Northwest.
The firm’s clients in Washington include counties, cities, utilities, school districts, housing agencies, special purpose districts, and most of Washington’s public universities. SDM also serves as advisor to the Office of the State Treasurer for its lease purchase program and is on the financial advisory team for the Washington State Housing Finance Commission.
Musselman, the firm’s founder, has more than 30 years of public finance experience, primarily in the Northwest region. She has helped clients with general obligation, revenue and assessment-backed finance needs.
Eoff, previously a financial advisor at SDM, will bring 35 years of public finance experience, both in the Northwest and nationally. He has particular expertise with multi-family housing, project finance, and revenue-backed financings.
Roodzant worked at SDM as a financial advisory assistant, providing support and assistance for each financing. She was with the firm since 2008, following a nine year career in the mortgage industry as a loan processor and loan officer.
“We believe that the combination of the talents and resources of our group with the PFM personnel in Seattle, together with our commitment to high quality service, will put us in the strongest position to serve and grow our client base together,” Musselman said. “I am confident that our knowledge of the region will help PFM continue to build its presence in the Pacific Northwest, and I look forward to our work together.”
Public Financial Management, Inc., part of the PFM Group of companies, has been consistently ranked as the top municipal advisory firm in the nation.
In 2012, the firm worked on 903 issues, totaling $56.9 billion, the most in the industry, according to Thomson Reuters data. For the first quarter of 2013, the firm also ranked No. 1, working on 176 issues, totaling $8.4 billion.