Anchin, Block & Anchin, a regional CPA and management consulting firm based here, has merged with area CPA practice Yohalem Gillman & Co.
Terms were not disclosed.
The merger became effective Jan. 1.
The union creates a tri-state powerhouse with 52 partners, 300 employees and roughly $65 million in revenue. The combined firm will continue under the Anchin, Block & Anchin brand. Jim Anchin will continue to serve as managing partner.
Frank Schettino, associate managing partner at AB&A, said that merger discussions began in earnest in October.
"What [Yohalem] brought to the table was a high-net-worth entertainment and family office practice. That was interesting to us, as we see that as a high-growth area," explained Schettino. "When we look at a merger, we're interested in services that bring us to another level."
The merger also melds two of the more established firms in the New York area, with a combined 154 years of longevity. AB&A was founded in 1923, while Yohalem has been in business about 70 years.
Despite AB&A's extensive history, Schettino said that the merger with Yohalem was just the third in the history of the firm.
Anchin, which ranked No. 38 on last year's Accounting Today Top 100 Firms list, recently reported 2004 revenues of $49 million.
