Cambridge, Mass. (Jan. 22, 2004) -- Top-ranked accounting and consulting firm Tofias PC plans to expand its presence in Southern New England with the pending merger of Rooney, Plotkin & Willey, a $4 million firm based in Rhode Island.
The deal would make Tofias one of the largest regional accounting and consulting firms in New England. The merger, expected to close in mid-February, adds two offices and 40 employees, including four partners, to the firm, creating an entity with a combined $28 million in revenue, four offices and roughly 190 employees, including 27 partners, according to Tofias spokesman Marc Busny.
“[Rooney Plotkin] had a strong reputation in the market,” Busny said of the decision to merge. “They have good name identity. We had bid against them for several clients and we were very impressed.”
Rooney, Plotkin & Willey, which will maintain its offices in Providence and Newport, R.I., specializes in serving the marine and hospitality industries, as well as family businesses, medical practices, manufacturing and nonprofit organizations. Managing partner Grafton (Cap) Willey IV, will join Tofias as a partner.
“We’re a second-generation firm. We have a lot of plans to grow organically and through mergers if it’s the right kind of firm,” Busny said of the firm’s expansion plans.
The deal marks the second merger in Tofias’s history. Back in November 2001, Tofias merged with New Bedford, Mass.-based Petitti Eisenberg & Gamache.
“Our growth historically has always been organic,” said Busny. “So this is a relatively new endeavor for us. We’re looking for opportunities to grow through mergers, but we’re looking for certain types of firms -- firms with strong leadership and people who feel that connecting to Tofias will improve their firm, and people who want to stay involved and grow and be part of the business.”
Tofias specializes in serving the professional services, wholesale, manufacturing, real estate and retail industries.
-- Melissa Klein
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