(L-R): Stephen Ferraro and Robert Paz
855 Valley Road
Clifton, NJ 07013
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Release Date: Tuesday, January 28, 2014
Media Contact: Caryl Bixon-Gordon (201) 796-7788
Company Now Ranks Among the Top 100 Accounting Firms in the Nation
ALBANY, N.Y./CLIFTON, N.J., Jan. 28, 2014 – Sax Macy Fromm & Co., PC (SMF) of Clifton, N.J., and Bollam, Sheedy, Torani, & Co. LLP (BST) headquartered in Albany, N.Y., officially merged on Jan. 1 to form SaxBST. The merger qualifies SaxBST as one of the Top 100 accounting firms in the country with more than $45 million in combined annual billings.
The newly merged firm is comprised of 48 partners, a staff of more than 220 employees and a 10-member executive committee. SaxBST will maintain offices in Albany, N.Y., Clifton, N.J., Mineola, N.Y. and New York City. SaxBST also has launched a new website, http://saxbst.com, detailing the firm’s services.
“It’s hard to imagine two companies that represent a better strategic and cultural fit. We are excited about what this merger means for our clients and employees,” said Robert Paz, co-managing partner. “Creating one firm allows us to provide an even deeper level of expertise and a better focus on our clients’ unique business challenges. Each firm had some service offerings that the other did not, further contributing to the synergy of this merger.”
Both SMF and BST share the same approach to personalized client service and practice management according to Stephen Ferraro, co-managing partner. “We’re proud to join forces with a firm of similar size, scope, corporate culture and service philosophy,” he said. “The merger positions us for strategic growth, expands our geographic reach, and provides new and existing clients with an even greater depth of expertise in our core practice areas.”
SaxBST provides accounting, tax and advisory services to closely held companies, family-owned businesses, not-for-profit organizations, governmental entities and high-net-worth individuals throughout the New York tri-state area. The firm serves a core set of industry segments and niches that include commercial real estate, construction, manufacturing and distribution, employee benefits, retail, financial services, medical and professional services, not-for-profit, government and labor unions.
Both Paz and Ferraro agree that combining the two well-respected firms creates a positive-thinking and future-oriented organization with a superior industry reputation. Many of the firm’s practice leaders hold key positions in professional and business organizations and often are sought to share their expertise at industry events. In addition, employees of both firms have long been recognized for their outstanding community involvement and charitable endeavors.
Since the merger announcement last fall, a number of internal activities solidified the integration of the two companies to ensure a seamless and successful transition. The management teams of both firms continue their leadership roles as part of SaxBST. “The merger also creates tremendous opportunities for all employees to grow both personally and professionally,” said Paz.
“In addition to an expanded team and resources, having a larger geographic footprint is another terrific advantage,” Ferraro said. “We have already uncovered situations that benefited clients with a reach into our combined markets in the New York tri-state area and Albany,” Paz added. “Staff also have many more opportunities with the larger organization.”
“We performed extensive due diligence before determining that our two firms would blend well together,” said Ferraro. “The process of planning for a successful integration began many months ago, and it’s gratifying to see our collective vision finally materialize.”