Wednesday, July 16, 2008

Upstate NY Merger

The Bonadio Group, CPAs, Pittsford, N.Y, has acquired the DR Group, which includes the 70-employee accounting firm Dorfman-Robbie, CPAs P.C., Albany as well as the firm's financial services, pension services, construction consulting and human resources affiliate companies.Bonadio, which is ranked 95th on Accounting Today's Top 100 firms, has $30 million in revenues, five offices and 27 partners. Dorfman-Robbie has five shareholders in addition to Managing Director Gordon Robbie, CPA.

The combined company will operate under The Bonadio Group name and will be located in the existing DR Group’s offices in Albany. As a result of the merger, more than 70 employees—including 21 CPAs—have joined The Bonadio Group, increasing the company’s employee base to more than 325 throughout upstate New York. Six partners will join The Bonadio Group as part of the merger, including Robbie, who will head up the Albany office.

The merger will also enhance the firm’s tax-exempt practices in healthcare and in the education sector, while the addition of an office location in the capital district will also allow The Bonadio Group to better serve its New York State government clients.
Managing Partner Thomas Bonadio, CPA, said the merger was part of his plan to create a mega-regional accounting and consulting firm in upstate New York with $60 million in annual revenues and 450 employees.

“We are always looking to hire people,” said firm Spokesperson Alan Vitberg. “One of the things that we think will come as a consequence of the merger is the firm is becoming a mega regional and a competitor to the Big 4.”

The firm is especially interested in talking to candidates with three to seven years experience, as well as those with audit, tax and consulting knowledge.

Vitberg says two unique programs differentiate the firm from its competitors. First, Employee Promise layers cultural benefits on top of the standard range of employee benefits.

Those cultural benefits include reduced summer hours, compensatory time off, staff appreciation days and Saturday Texas Hold ‘Em tournaments during tax season.

The firm’s second program, The Family Promise, pledges that employees work lives will be organized in a way that allows them to have time with their family and corporate events that include employees’ families.

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