Coral Gables-based RIA Advisory to merge with global business consulting company
Both companies have locations in the United States and other countries.
Coral Gables based business consultancy RIA Advisory announced on Tuesday that it would merge with TMG Consulting. TMG Consulting is a global consulting and professional services company for the utilities sector.
According to a RIA Advisory press release, the two companies will merge to create revenue-management solutions for clients in the financial services, healthcare payers, utilities and public sector sectors. The financial terms of the deal were not disclosed.
Saket Pabby is the CEO of RIA Advisory. He said, "We are excited to announce this merger. It will provide our client with the most comprehensive and innovative revenue management solutions on the market today." Combining the strengths between RIA Advisory & TMG will provide a more comprehensive range of products and services for our clients. We are thrilled to bring two highly-skilled teams with complementary cultures and shared values together to drive innovation and deliver exceptional value to our clients.
Revenue management services and optimization include, but are not restricted to, advising clients on non-operational and operational business decisions which directly impact a company's profits.
With the addition of more than 100 employees, it is anticipated that TMG will be able to expand its services in various utilities markets.
The combined company, which will employ more than 700 workers worldwide, will have offices located in the U.S.A., Canada UK, India, Philippines and Australia.
RIA Advisory was founded in Coral Gables in late 2016. Its headquarters are located at 2000 Ponce de Leon Boulevard, Suite 600. The firm, which was founded in late 2016, partnered with Avance Investment Management (a New York-based private equity firm) to accelerate its growth.
John Civantos is a senior partner at Avance. He said, "The combination between RIA and TMG will create a billing-and-revenue management solutions provider that has leading positions in financial services, healthcare payers, and utilities." We are proud to work with both management teams in order to bring this exciting opportunity to life.