SRG Co-Managing Partner Drew Grey.

SRG Co-Managing Partner Drew Grey.

Squar Milner, one of the largest independent accounting firms in California, announced Friday that it will be combining with Woodland Hills-based SRG, making Squar Milner the third largest accounting firm in the San Fernando Valley area.

The merger becomes effective Dec. 1, retaining the name Squar Milner and the SRG office location in Woodland Hills.

According to the Business Journal’s list of accounting firms published in February, Squar Milner then had 71 Valley professionals and SRG had 48. The total, 119, would be behind the No. 2 ranked Holthouse Carlin and Van Trigt with 123 professionals in the Valley area. (No. 1 was Miller Kaplan Arase with 186.)

Squar Milner said it has more than $115 million in revenue and a total workforce of roughly 550 professionals and associates. SRG has $11 million of revenue and nearly 55 professionals.

The newly combined offices will feature more than 200 professionals in the Los Angeles area.

Welcoming the SRG team into the Squar Milner fold, Managing Partner Steve Milner said in a statement, “We will continue to work to become one of the preeminent and largest firms based in California and Los Angeles. Last year, we were very pleased to expand our Bay Area presence by having two firms join our already robust practice there. This year our focus has been in L.A. We are thrilled to have the SRG team join us. They have a long history of providing expert services to their clients. Their culture was remarkably similar to our own. They have a sophisticated client base, talented people, and a stellar reputation.”

SRG Co-Managing Partner Drew Grey said, “We have built an incredible firm with fantastic clients and are very proud of our people and the clients we serve. The Squar Milner combination will give our people expanded opportunities to grow as well as provide our clients innovative and specialized resources and services.”

Added SRG Co-Managing Partner Tina Lazaroff, “We’re excited to be joining forces with Squar Milner. Working together, we’ll be able to offer our clients an expanded knowledge base and additional resources to help them grow and manage their businesses.”

Grey and Lazaroff will stay on as managing partners of Squar Milner’s Woodland Hills office, the company said.

SRG’s Woodland Hills office will become the second Valley location for Squar Milner, as well as the third in Los Angeles. Irvine-based Squar Milner has offices in Encino, Los Angeles, Orange County, San Diego, San Francisco, San Mateo, Silicon Valley and the Cayman Islands.