Pittsburgh (May 20, 2003) -- Parente Randolph of Wilkes-Barre, Pa., ranked 33 on Accounting Today's Top 100 Firms list, has merged with Stokes & Hinds, Pittsburgh's 11th largest firm.
Parente Randolph, which is by far the largest firm in Pennsylvania, said the deal is part of a pre-set goal to expand west. Its farthest western location prior to this deal was in State College, Pa., about 100 miles from Stokes & Hinds operations in Pittsburgh and Indiana, Pa.
"The merger propels Parente Randolph from an Eastern Pennsylvania firm to a true statewide practice, giving us the ability to better serve clients in the western part of the state," said PR chief executive Robert Ciaruffoli. Marketing vice president Rhonda McDermott noted that the transaction should help Parente Randolph handle a statewide contract the company recently won to provide accounting and audit services to Pennsylvania's higher education system.
Thirty-two Stokes & Hinds employees join Parente & Randolph's western Pennsylvania operations, including six who are now principals in the survivor organization. PR had $44.9 million in net 2002 revenue and Stokes & Hinds had $3.7 million, according to McDermott.
-- John M. Covaleski
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