2nd Major Acquisition for CBIZ
January 6, 2009
CBIZ acquires major firm in New England
Kreston International is delighted to announce that US member firm has completed the acquisition of Tofias PC, the second largest regional accounting firm In New England with offices in Cambridge, Providence, New Bedford and Newport and ranked as one of the Top 100 accounting firms in the USA.
Tofias PC, previously a member of BKR International, was founded in 1966 and now has 28 director/shareholders and a total staff resource of some 200 offering accounting, tax and consulting services to privately-held and public companies, not-for-profit organizations, family offices and high-net-worth individuals. The firm generates aggregate fee revenues of some US$38m.
Tracy Gallagher, Managing Director of Tofias PC, stated, “In an evolving business market, where more clients are looking for firms with a national presence, we are excited to introduce CBIZ to the New England marketplace and at the same time extend our reach beyond New England for our current and future clients.”
Jon Lisby, Kreston International Executive Director, said ?Following on from last month?s acquisition of New York firm, Mahoney Cohen, the addition of Tofias has significantly strengthened our representation in the North East corridor and together the firms add an aggregate of US$93m to our global revenues?.