BlumShapiro has merged with the Providence, R.I.-based firm Sullivan & Company.
Like what you see? Click here to sign up for Accounting Today's daily newsletter to get the latest news and behind the scenes commentary you won't find anywhere else.
Sullivan, which has been in business since 1975, provides audit, accounting, tax and business advisory services to privately owned businesses, nonprofit organizations and individuals, throughout the Rhode Island market. The firm will take on the BlumShapiro name and intends to build a culture of personalized service coupled with specialized expertise.
BlumShapiro provides services to middle-market companies, non-profit organizations and government entities focused in the manufacturing, distribution, retail, construction, education, automotive and health care industries. The addition of Sullivan will give BlumShapiro offices in West Hartford and Shelton, Conn., Boston and Rockland, Mass and Providence, R.I.
"BlumShapiro has become the largest mega regional in New England and my guess is there will be more mergers to follow,” Koltin Consulting Group CEO Allan Koltin said in a statement. “I would not be surprised to see BlumShapiro get to $100 million in revenues in the next 1 to 2 years," noted Koltin, who advised both firms on the deal.
“We are pleased to have a firm as highly respected and renowned as Sullivan & Company join our team,” BlumShapiro managing partner Carl Johnson said in a statement. “BlumShapiro looks forward to building on the excellent reputation that Sullivan & Company has established in Providence and to remaining a valued community partner in the area, just as we are in Hartford, Fairfield County and Boston.”
“This will be a seamless transition, and together, the combined firms can best offer the resources and specialties of a large firm coupled with the responsiveness of a local firm, giving us a distinct market advantage,” Sullivan’s office managing partner Timothy Sullivan said in a statement.