The Bonadio Group has merged with Dorfman-Robbie and its affiliated companies, the DR Group, to create an accounting firm with annual revenues of nearly $45 million.
The merger with Albany-based DR advances Bonadio toward its goal of becoming upstate New York's first mega-regional accounting firm. The business combination will give Bonadio offices in the state capital to better service its government clients, but will also give the firm access to DR's large client base, especially in the construction industry.
"Our vision for a number of years was to be the dominant player in upstate New York," said managing partner Thomas Bonadio (pictured). "We already have five offices, but we really like the Albany area. We met a year or so ago, and it came to the point where we thought this would be a great thing for both our firms and our people."
"It lined up perfectly as far as culture is concerned," said Gordon Robbie, who will run the Albany office. His firm specializes in construction, manufacturing, healthcare, nonprofits and government services.
The combined firm will operate under the Bonadio name. More than 70 employees, including 21 CPAs and six partners, will join Bonadio as a result of the merger, giving Bonadio 325 employees across upstate New York.
The DR Group merger is Bonadio's third in three years. In 2005, Bonadio combined with Fiddler & Co. in Buffalo, and in 2007 with Loguidice and Kamide in Syracuse. Bonadio is aiming to become a $60 million firm with 450 employees. The businesses within the DR Group include Dorfman-Robbie CPAs; DR Financial Services; DR Pension Services; DR Construction Consultants; and DR Human Resources.
"We want to have all the capabilities of the Big Four, except we want to service our clients with a small-firm personality," said Bonadio. He expects to expand in the four cities where his firm already has a presence and perhaps look at doing another merger next year. "You never know what comes up," he said.
The Bonadio Group ranked 95th on Accounting Today's list of the Top 100 Firms of 2008.
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