Inside the Deal: Andersen Group
Baird Leads Andersen's First Return to the Public Markets Since Its IPO
Baird recently served as left lead bookrunner on a $217 million follow-on offering for Andersen Group, Inc. ("Andersen") (NYSE: ANDG), a leading independent provider of tax, valuation and financial advisory services to individuals, family offices, businesses and alternative investment funds. The 100% secondary offering provided liquidity to Andersen's partners and Managing Directors and marked the company's first return to the capital markets since its December 2025 IPO.
For Baird's Equity Capital Markets team, the transaction demonstrates how deep sector expertise, sustained client engagement and a client-first approach can deliver a successful outcome for issuers, selling shareholders and investors alike.
Building on a Strong Partnership
Baird served as an underwriter on Andersen’s December 2025 IPO and worked closely with the company throughout the preparation process and roadshow. During that time, Baird provided consistent, objective guidance to help management effectively position the company in the public markets and address key investor priorities.
As Andersen transitioned into life as a public company, Baird's Equity Capital Markets team maintained an active dialogue with management and closely monitored the performance of the business, which consistently exceeded expectations. The relationship deepened further when Andersen met with institutional investors at Baird's Global Consumer, Technology & Services Conference in June 2026, creating additional opportunities to broaden investor engagement.
That ongoing partnership ultimately led to Baird being elevated to lead left bookrunner for Andersen's first follow-on offering since its IPO.
Baird's Execution Advantage
The success of Andersen's follow-on offering reflects Baird's commitment to relationship-driven execution, strategic advice and market expertise. Several factors contributed to the strong outcome:
Senior-Level Leadership Throughout the Process
Baird's senior Equity Capital Markets team remained actively involved at every stage of the transaction, providing hands-on leadership from launch through closing. This high-touch approach ensured the highest quality execution and timely decision-making throughout the process.
Deep Investor Relationships
Since Andersen's IPO, Baird has maintained ongoing engagement with a broad network of institutional investors, generating valuable market insights that informed both the marketing strategy and allocation process. These relationships helped support investor education and demand generation for the offering.
Collaborative Syndicate Management
Baird fostered a balanced and inclusive syndicate process, ensuring that every active bookrunner had a meaningful voice in the transaction. This collaborative approach helped maintain alignment across the syndicate and supported efficient execution through pricing.
Andersen's first follow-on offering highlights Baird's ability to combine trusted advice, deep investor connectivity and disciplined execution to achieve successful outcomes in the equity capital markets. By prioritizing collaboration, precision and long-term relationships, Baird continues to help clients navigate critical capital markets milestones and create value for all stakeholders.
Interested in learning more about these transactions? Connect with Baird Global Investment Banking.
Macie House
Managing Director
+1-503-273-4937
mhouse@rwbaird.com
Brian D. Cole
Managing Director
+1-414-298-1702
bcole@rwbaird.com
Sandy Walter
Co-Head of Equity Capital Markets
+1-414-298-5118
swalter@rwbaird.com
Ryan Engelhardt
Managing Director
+1-414-298-2637
rengelhardt@rwbaird.com
Matt Gailey
Director
+1-414-765-1458
mgailey@rwbaird.com
Kotryna Smith
Vice President
+1-414-298-5170
kpsmith@rwbaird.com
