The Bonadio Group, a Top 50 Firm, will acquire T. Gschwender & Associates, expanding the firm's ability to serve banks, credit unison and other financial institutions.
TGA was founded in 1984 by Thomas Gschwender and is based in Syracuse, New York. The firm provides credit risk management services, such as loan and appraisal reviews, pre-funding due diligence, problem loan management and advisory services, to financial institutions.
The deal is expected to close Aug. 16, 2026.
"As the professional services landscape continues to evolve through consolidation, we're focused on strategic partnerships that deepen our expertise and create greater value for our clients," Bonadio Group CEO and managing partner Bruce Zicari said in a statement Wednesday. "TGA's specialized expertise helping financial institutions navigate credit risk, regulatory expectations and portfolio management challenges is a natural complement to our existing consulting capabilities, and we're excited to welcome their talented team to Bonadio."
Bonadio, based in Rochester, New York, ranked No. 43 on Accounting Today's 2026 Top 100 Firms list. It reported $204 million in revenue, with 117 partners and over 1,140 employees across 12 offices.
"At TGA, we've always been committed to helping financial institutions strengthen their credit risk management practices by providing independent assessments and actionable guidance," TGA president and CEO Bo Singh said in a statement " As financial institutions navigate an increasingly complex risk and regulatory environment, joining The Bonadio Group enables us to continue that mission while providing our clients access to broader resources, expanded expertise and additional advisory services. Just as importantly, we found a partner that shares our commitment to client service, professional excellence and long-term relationships."
