Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors. We are a leading provider of independent tax, valuation and financial advisory services to individuals and family offices, businesses and institutional clients in the United States. We have strategically expanded our business to build an integrated platform of service offerings that enables us to solve our clients’ most complex tax and financial challenges. The success of our approach is reflected in our consistent growth to date, having delivered a revenue compound annual growth rate (CAGR) of 15% since 2003, the first full fiscal year following our formation, through December 31, 2024, and a net income CAGR of 24% since 2009, the first full fiscal year following our management buyout from HSBC, through December 31, 2024. We have achieved this by delivering specialized technical expertise combined with practical advice, supported by our widely recognized and strong firm culture, integrated services offerings and global capabilities. Our global reach is facilitated through our membership in Andersen Global, a Swiss association of over 300 member and collaborating firms. Our differentiated approach to client service is rooted in our firm values that emphasize quality of service, collaboration and stewardship. We strive for excellence by leveraging the extensive experience of our Managing Directors, many of whom are thought leaders in their respective fields, and ensuring that they are deeply involved in client service through our low-leverage operating model. Our leadership team has created a collaborative working environment, ensuring that our clients benefit from high-functioning teams and access to Managing Directors across our multiple service lines. We also place a high premium on stewardship as we focus on nurturing our professionals’ development, fostering a vibrant workplace conducive to long-term careers and creating an environment of continuous learning. Taken together, our firm culture supports our resilient business and low employee turnover, enabling us to consistently deliver high-quality services to our clients. Built on the legacy of Arthur Andersen, we believe our brand is one of the most globally recognized and respected names within professional services. Associated with commitment to the highest standards of professionalism, the Andersen brand stands for a culture of excellence, superior client service, deep talent and consistent growth. These defining qualities of our brand have helped serve as a catalyst for meaningful and sustained client growth and continue to drive our ability to attract new clients and talented professionals today. Our ability to deliver exceptional client service is further bolstered by our membership in Andersen Global. As the founding member of Andersen Global, we have created a strategic set of relationships with member and collaborating firms worldwide, which enable us to better deliver services internationally at scale. With over 50,000 professionals and 3,000 partners operating in over 180 countries as of September 30, 2025, Andersen Global and its affiliates provide our clients with access to deep tax, legal and financial expertise that is differentiated from traditional multinational consulting firms and is complemented by on-the-ground experience with local business practices and regulations. Our foundational role in Andersen Global and the depth and breadth of expertise offered by its member and collaborating firms give us the ability to service our U.S. clients internationally. We have built a multidimensional independent advisory firm with the ability to provide differentiated services across tax and financial services to address our clients’ most complex challenges. Our primary end-to-end services offerings include: • Private Client Services. We provide comprehensive tax and financial services for individuals and families, addressing complex client matters involving multigenerational wealth, charitable giving and trust and estate planning. • Business Tax Services. We offer a broad range of scalable, integrated tax-related consulting and compliance services for businesses, helping organizations with managing their tax planning, compliance and reporting needs effectively. • Alternative Investment Funds. We deliver comprehensive tax and financial services for a range of investment funds including family offices, funds of funds, hedge funds, private equity funds, venture capital funds and real estate investment trusts. • Valuation Services. We provide clients with in-depth, independent valuation expertise that helps clients navigate tax laws and regulations and comply with important regulatory requirements. Since our inception, we have made a deliberate decision not to provide audit or related financial statement attestation services. As a result, we are not limited by the associated regulations that audit firms are subject to in the United States and internationally. This allows us to offer a comprehensive suite of non-audit services tailored to our clients’ specific needs, enabling us to build a differentiated, trusted relationship with them. We meet our clients’ most critical needs because of our distinctly qualified and talented professionals. We have rapidly increased our headcount over the past several years, employing over 2,300 personnel in 26 locations across the United States as of September 30, 2025. In addition, through Andersen Global, we have a global reach that gives us access to additional professionals worldwide. In an industry in which access to talent is a critical differentiator, we believe we benefit from long staff tenure and low attrition rates that help us maintain long-lasting client relationships. As of December 31, 2024, our average Managing Director tenure exceeded ten years, and our average client-facing non-partner attrition rate over the past three years, excluding involuntary terminations, was approximately 17% compared to the industry average of approximately 21%. This low attrition rate reflects our focus on investing in and retaining our talent. Since our founding, we have never implemented any broad-based layoffs, despite having operated through several periods of significant economic uncertainty. We attract a highly diverse range of clients across the United States and internationally. As of September 30, 2025, we had performed services for over 11,900 client groups across the United States, representing an increase of 6% from September 30, 2024. Client groups will often comprise multiple client engagements with different entities or individuals, such as multiple subsidiaries of an entity, multiple principals within a single private equity fund or multiple individuals or trusts within a single wealthy family. Accordingly, we had over 21,000 client engagements in the nine months ended September 30, 2025 representing an increase of 7% from the nine months ended September 30, 2024. During the nine months ended September 30, 2025, we derived approximately 52% of our revenue from private client services, 34% from business tax services, 10% from alternative investment fund services and 4% from valuation services. We believe that our exceptional level of service and the expertise that we provide has enabled us to build long-lasting client relationships. In 2024, approximately 74% of our revenue came from client groups that have engaged our services for more than three years. Andersen Group Inc. was formed as a Delaware corporation in April 2025. Prior to this offering, Andersen Group Inc. had no material assets and has not engaged in any business or other activities except in connection with the reorganization transactions and this offering. After the completion of this offering, Andersen Group Inc. will be the managing member of Andersen Tax Holdings LLC, which was originally organized under the name WTAS Holdings LLC in December 2007 in connection with a management buyout transaction from HSBC USA Inc. Andersen Tax Holdings LLC owns the main operating entity, Andersen Tax LLC. Andersen Tax LLC was previously known as WTAS LLC, which was the successor entity to Wealth and Tax Advisory Services, Inc., which was founded in 2002. In 2014, we acquired the rights to the Andersen trademarks and rebranded ourselves as Andersen Tax Holdings LLC and Andersen Tax LLC. Our principal executive offices are located in San Francisco, California.
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- Windows: Andersen designs, manufactures, and markets a wide variety of high-quality windows for residential and light commercial applications.
- Doors: The company produces and distributes an extensive selection of patio doors and entry doors for homes and businesses.
- Storm & Screen Doors: Andersen offers EMCO and Andersen branded storm and screen doors that provide ventilation, light, and protection from the elements.
- Replacement Parts & Accessories: It provides genuine replacement parts, hardware, and accessories for the maintenance, repair, and customization of its window and door products.
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It appears there might be a misunderstanding regarding the company details provided. A search for a public company named "Andersen" with the stock symbol "ANDG" does not yield any currently trading or recently active public entity.
The name "Andersen" is historically associated with Arthur Andersen, a major accounting firm that ceased operations in 2002 and was not publicly traded under the symbol ANDG. Other companies with "Andersen" in their name are either private or trade under different symbols (e.g., Accenture, which was formerly Andersen Consulting, trades as ACN).
Without a verifiable public company matching "Andersen" and symbol "ANDG," it is not possible to identify its major customers or customer categories.
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Andersen Group Inc. (symbol: ANDG) is a company poised to become publicly traded on the NYSE, with its initial public offering (IPO) expected around December 17, 2025. The management team leading this entity includes:
Mark L. Vorsatz Global Chairman and CEO
Mark L. Vorsatz is the Global Chairman and CEO of Andersen, having co-founded the firm under the name WTAS in 2002 and serving as its leader since inception. He was instrumental in the firm's rebranding to Andersen in 2014 and the expansion of Andersen Global. With over 35 years of experience in tax practice, he was a Partner at Arthur Andersen from 1987 to 2002. His client base consists of founders and/or substantial shareholders of public companies, owners of closely held businesses, and high-net-worth family groups.
Neal Livingston Chief Financial Officer
Neal Livingston serves as the Chief Financial Officer at Andersen Global. He brings decades of international financial experience, having held senior leadership positions at prominent institutions such as Standard Chartered, RBS, and Commonwealth Bank. Prior to joining Andersen, he was the Global CFO at Dentons and Freshfields, where he played a key role in leading significant expansion and restructuring initiatives.
Bill Deckelman Chief Legal Officer
Bill Deckelman is the Chief Legal Officer at Andersen. His background includes serving as Executive Vice President and General Counsel at DXC Technology, where he was involved in a major merger. His expertise spans corporate governance, legal strategy, digital transformation, AI governance, cyber risk, and regulatory compliance.
Paul Ernst Senior Leader, Technology Integration
Paul Ernst contributes over 25 years of experience in digital transformation, technology integration, and building resilient businesses to Andersen. He is responsible for overseeing the technology integration efforts across Andersen Global member firms.
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Andersen Group Inc. (ANDG) faces several key risks to its business, primarily stemming from its recent transition to a public company and its operational structure. The most significant risks include identified weaknesses in internal controls, a concentrated voting power structure, and reduced disclosure requirements due to its "emerging growth company" status.
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Material Weaknesses in Internal Controls: The company's prospectus identifies material weaknesses in its internal controls, encompassing IT controls and period-end review controls. Such weaknesses can undermine the reliability of financial reporting and operational effectiveness.
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Concentration of Voting Power and Complex Ownership Structure: Voting power within Andersen Group Inc. is concentrated with "Aggregator," which limits the influence of public shareholders on governance and major corporate decisions. Additionally, the UP C structure, while advantageous for legacy partners, introduces complexity for public investors and means significant non-controlling interests will reduce the portion of consolidated net income attributable to Class A shareholders.
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Reduced Disclosure as an "Emerging Growth Company": As an "emerging growth company," ANDG is permitted to disclose less information to shareholders, which can lead to lower transparency for investors compared to more established public companies.
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Emerging threats to Andersen (ANDG), a manufacturer of windows and doors, include the rise of Building-Integrated Photovoltaics (BIPV) and advanced dynamic glazing (smart glass). BIPV windows, which integrate transparent or semi-transparent solar cells, offer the dual functionality of a traditional window and an energy generator. This represents a potential shift in the value proposition, as windows could become active contributors to a building's energy needs rather than passive components. Similarly, advanced dynamic glazing allows windows to electronically control tint, glare, and heat gain in real-time. As costs decrease and performance improves, this technology offers superior comfort and energy efficiency without the need for traditional shading solutions, potentially rendering conventional windows less competitive.
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Here are 3-5 expected drivers of future revenue growth for Andersen (ANDG) over the next 2-3 years:
1. Expansion of Diversified Practice Lines: Andersen plans to grow its various service offerings, with a particular emphasis on accelerating growth in consulting, valuation, international structuring, and broader financial advisory verticals. This expansion aims to capture a larger share of the market for high-end advisory services.
2. Continued Global Expansion through Andersen Global: The company's affiliation with Andersen Global, a network of over 300 member and collaborating firms across 182 countries, is a significant driver. This global platform facilitates the upsell and cross-sell of tax, legal, financial, and valuation services, enhancing Andersen's international reach and capabilities.
3. Increasing Demand for High-End Advisory Services: Andersen anticipates revenue growth from the rising demand for sophisticated advisory services from individuals, family offices, funds, and middle-market enterprises. This demand is fueled by factors such as increasing tax complexity, evolving regulatory landscapes, and growing international capital flows.
4. Strategic Cross-Selling Across Service Verticals: The company's integrated service platform is designed to allow for effective cross-selling of its comprehensive offerings. This strategy enables Andersen to address complex client needs by providing a broader range of specialized services, thereby increasing revenue per client.
5. Investments in Technology and Automation: Andersen intends to invest in technology and automation solutions, including a focus on artificial intelligence (AI) and ESG (Environmental, Social, and Governance) consulting. These investments are expected to support future growth by enhancing service delivery and expanding into new, high-demand areas.
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Capital Allocation Decisions (Last 3-5 Years for Andersen, ANDG)
Share Issuance
- Andersen Group Inc. is undertaking an Initial Public Offering (IPO) in late 2025, planning to offer 11,000,000 Class A common shares.
- The anticipated price per share for the IPO is between $14 and $16, with a goal of raising up to $176 million.
- Underwriters have an option to purchase an additional 1,650,000 shares in connection with the IPO.
Inbound Investments
- Andersen has recorded a fair market value investment of $198.4 million as of June 30, 2025, from investors, including Andersen Aggregator LLC.
- The IPO in late 2025 is expected to raise up to $176 million, which will be used to fund growth initiatives and expand service offerings.
Outbound Investments
- In 2024, Andersen Global expanded significantly by adding 65 new member and collaborating firms, broadening its global valuation practice.
- This expansion included advancing its global valuation practice in 10 Asia Pacific countries, thereby deepening its ties and capabilities in the region.
Capital Expenditures
- Capital expenditures for Andersen Group were -$5.15 million in the last 12 months prior to December 2025.
- The company utilizes a low leverage delivery model, where managing directors work directly with clients, which may reduce the need for extensive capital investments in physical assets.
