Sax Macy Fromm & Co., PC of Clifton, N.J., and Bollam, Sheedy, Torani, & Co. LLP, headquartered in Albany, N.Y., have agreed to merge.

The combination is expected to be finalized by Jan. 1, 2014 and will take on the name SaxBST. SaxBST will maintain offices in Clifton, N.J.; Albany, N.Y.; New York City and Mineola, N.Y. The combined firm is expected to generate more than $45 million in combined annual billings.

"Creating one firm allows us to provide an even deeper level of expertise and a better focus on each client's unique challenges," managing partner Robert Paz said in a statement. "Each firm features some service offerings that the other does not, further contributing to the synergy of this merger."

Once the merger is complete, SaxBST's multi-disciplinary accounting, tax and financial consulting services will continue to meet the needs of privately held companies, family-owned businesses, not-for-profit entities and high-net-worth individuals throughout the New York tri-state area. The firm's industry segments and niches include commercial real estate, construction, manufacturing and distribution, employee benefits, retail, financial services, medical and professional services, not-for-profit, government and labor unions.

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