Gorfine, Schiller & Gardyn has merged in Bernard B. Cohen & Co., expanding the firms real estate practice in the Baltimore area.
GSG, based in Owings Mills and Hagerstown, Md., will have over 85 employees with the merger of Baltimore-based BBC. Four of BBCs employees moved into GSGs existing offices, according to managing director Simpson H. Gardyn, when the merger took effect December 1.
Two of BBCs principals were among those joining the staff. Merton E. Cohen, a CPA with more than 35 years of experience in accounting and tax, joined GSG as an officer. Neil Z. Insel, a CPA and attorney, joined GSGs tax department as a senior manager.
BBCs specialties include real estate, property management, estates, trusts and gift planning, which made the firm an attractive merger candidate.
We have a significant real estate practice, and this accounting firm, while not large, had a considerable real estate practice and some nice clients, said Gardyn. It helped us in one of our niche areas.
The combined firms will have in excess of $10 million in revenue, according to Gardyn, with BBC adding about 7 percent to total revenue. The two firms were in discussions about the deal since around February, but they took time out during tax season.
Both firms have a long history in the Baltimore area. GSG has been in business for about 70 years and BBC for about 60 years. GSG plans to continue its membership in the PKF North America accounting firm network after the merger.
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