November 30th, 2011 – In keeping with its strategic vision to enhance its services and further distinguish itself as a dominant force in the NY-metro area, Grassi & Co. will be merging in New York City-based accounting firm Pustorino, Puglisi & Co., LLP, effective January 1, 2012. The merger of the two firms will bring an additional 4 partners to Grassi & Co.’s team and raise the staff count up to nearly 200. Grassi & Co. currently custom-tailors its services to meet the specialized and ever-changing needs of a multitude of industries. The merger will expand the firm’s expertise to include financial services, SEC registrants and international fashion houses.
Through this merger, Grassi & Co. will further solidify and enhance its New York City presence, providing highly-specialized tax, audit, accounting and consulting services for industries including construction, manufacturing & distribution, financial services, architecture & engineering, healthcare, technology, not-for-profit, and professional service firms, among several others. Because both Pustorino, Puglisi & Co. and Grassi & Co. have expanded upon their core foundations of accounting and audit services to include a suite of advisory services, as well as technology consulting expertise, the joining of the two firms will uniquely position Grassi & Co. as a full-service resource for its clients. Post-merger, Grassi & Co. expects to reach $40 million in revenue for 2012.
Along with additional expertise and services, the merger will provide further support of the Long Island-headquartered firm’s commitment to growth and stability, widely recognized over the last few years. Testament to this, Grassi & Co. was ranked by INSIDE Public Accounting’s annual list of the nation’s 25 Best Managed Accounting Firms for the sixth consecutive year in 2011.
Grassi & Co. Managing Partner Lou Grassi, CPA, CFE, believes the firm is strongly positioned to continue providing the cost-effective services, business expertise, extensive attention to detail, and dependable, on-time reporting that is necessary to being recognized as a premier firm.
“This merger represents a new chapter in Grassi & Co.’s story. Joining together two firms who share the same vision of both firm and individual growth and excellence is truly a testament to the foundation that our company is built upon. We are dedicated to providing value to our outstanding list of clients, even amidst the current economic conditions. With our combined talent pool, we will further increase our abilities to service our clients and address their goals and needs. This merger is an exciting achievement for us and continues to build out the strategic vision of the firm,” says Grassi.
“This merger enables us to more efficiently address the ever-demanding challenges of our profession and better equips us to provide the services that our clients need,” remarks Rocco Totino, Managing Partner of Pustorino, Puglisi & Co., LLP. “It is also a pleasure to join forces with a friend whom many of us at Pustorino, Puglisi have known for over 30 years and have watched him transform his organization to what it is today.”