Anderson Group confidentially files for US IPO
Just over 20 years after the Enron accounting scandal, Andersen Group confidentially filed for a US IPO last week that would return the last remnant of the disgraced former parent to the public markets.
The San Francisco-based tax and legal services firm announced its listing plans on Monday, but did not disclose any additional details regarding valuation, trading venue or which banks will lead the deal.
Andersen CEO Mark Vorsatz led Arthur Andersen’s private clients group before the Enron scandal blew up the one-time “Big Five” accounting firm. He formed his own business called WTAS in 2002, which was rebranded as Andersen in 2014.
Since then, the new parent company called Andersen Global has expanded into 170 countries with more than 500 locations worldwide.
The new firm’s partners voted nearly unanimously last summer to return the Andersen brand to the public markets.
At that time, Vorsatz was expecting to complete the IPO by the end of this year. The confidential filing process allows him to navigate the regulatory review process behind closed doors.