Grassi buys Bernstein and Seidman
Grassi & Co. has acquired Bernstein and Seidman, a firm based in Scarsdale, N.Y.
As part of the deal, co-founder Robert M. Bernstein will be joining Grassi as a partner. He started the firm 30 years ago. The deal will bring more than 250 clients to Grassi in different industries, particularly the automotive industry. Other clients are in the retail sales, import and export, food, pharmaceuticals and real estate sectors.
“As the automotive industry faces never-ending challenges on standards of leasing and revenue recognition, we look forward to partnering with a firm like Bernstein and Seidman whose commitment to those in the automotive industry is unparalleled,” said Grassi & Co. managing partner and CEO Louis C. Grassi in a statement. “Merging Bernstein into our company allows us to grow our accounting services practice and expand our geographical footprint.”
Bernstein and his staff plan to move in May from Scarsdale to White Plains, N.Y., another part of Westchester County.
Earlier this week, Grassi announced another merger deal, with James Bohl, CPA, P.C., a Long Island firm in Ronkokoma, N.Y., that specializes in servicing franchise businesses (see Grassi merges in Bohl). Grassi & Co. ranked 77th on Accounting Today’s 2016 list of the Top 100 Firms, with $49 million in annual revenue.
“We pride ourselves on our hands-on approach with clients and ensure that when we are engaged on a transaction, our client’s business needs are structured to take advantage of the various tax incentives available,” Bernstein said in a statement. “Partnering with a firm like Grassi & Co. will aid us in being able to offer our clients the products and services needed to help them grow their business and compete in today’s changing landscape.”