Parente Randolph has acquired the Pittsburgh office of Terry & Stephenson, bringing the total number of staff members in Parente's Pittsburgh office to more than 35.
The Philadelphia-based firm has 12 offices in Pennsylvania, New Jersey and Delaware. As part of the merger, Sam Stephenson, a partner with Terry Stephenson, will join Parente Randolph as a principal.
"It gives our clients an opportunity to take advantage of resources that we could not bring to them prior to this merger," said Stephenson. "That's a function of being able to move to an environment that has a lot more product offerings."
Terms of the deal were not disclosed. Parente Randolph had revenue of $67.2 million last year and was ranked no. 31 on Accounting Today's list of the Top 100 firms. Terry & Stephenson had $1.8 million in revenue last year, and its Pittsburgh office had close to $750,000 in revenue. The firm's Denver office will continue to operate under its old name for now.
Parente Randolph traces its roots back to 1972, while Terry & Stephenson has been around since 1979. The latter firm's Pittsburgh office specialized in the transportation and real estate industries, as well as health care, nonprofits and government agencies. Parente Randolph specializes in corporate finance, enhanced tax planning and compliance, IT consulting, forensic accounting, litigation support, business systems consulting, corporate governance, risk management and HR services.
