Aronson & Co. announced a merger with Capron Associates LLP, a small public accounting firm based in Bethesda.
By combining professional staffing resources and client bases, the firms plan on offering clients a more diverse set of services and more effective staff coverage on client engagements.
"With increased opportunities, we have had to seek out new ways to serve the growing needs of the industry," said Capron partner Jeff Capron, in a statement. "The limited infrastructure of a small firm makes it difficult to meet new demands, as well as provide the best growth environment for our staff. When we set out to find a larger firm to blend with, there was a very short list of suitable candidates."
Currently, Capron concentrates on four primary areas of expertise: closely held businesses; nonprofit organizations; business valuations and forensic accounting; and services to individuals. This merger will allow clients to benefit from the expanded services already offered by the larger A&C, which serves industry groups that include biotechnology, construction, emerging business, government contractors, nonprofit associations, real estate, and technology. Capron's employees, including four partners, will be absorbed into A&C's current organizational structure and join a staff of almost 200 at the A&C headquarters in Rockville. Aronson & Co. ranked No. 52 on Accounting Today's 2005 list of Top 100 Firms, with revenues of $32.9 million.
