Regional firm Kahn, Litwin, Renza & Co., based here, is expanding into Newport with the merger of Casten, Victor & Co. into its fold.
The merger, which marks KLR's third in six years, adds one office, revenue of nearly $2 million, and 19 employees to KLR, giving the combined firm revenues of roughly $11.5 million, two offices and a staff of 90. Richard Casten and Robert Victor join KLR as principals.
In addition to strengthening KLR's not-for-profit and distribution niches, the addition of Casten, Victor & Co. brings the firm expertise in hospitality and retail, according to KLR managing director Alan Litwin.
"This gives us a physical location in a market that we wanted to be in. Also, their industry niches help to expand our services. We can expand our service lines into their client base in Newport and grow our business here in Providence," said Litwin. The merger was effective Jan. 1.
In addition to nonprofits and distribution, KLR has industry niches in health care, manufacturing, real estate and Section 404 work. The firm, which specializes in serving closely held businesses, also provides technology services and executive recruiting services through separate entities.
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