Atlanta-based Aprio has made another M&A deal, this time acquiring DeFalco & Co. CPA, a firm with locations in Hoboken and Scotch Plains, NJ, expanding the top 25 accounting firm’s presence in the greater New York metro area.
Financial terms of the deal weren’t disclosed. DeFalco & Co. CPA officially joined Aprio on Aug. 1, adding Managing Partner Philip DeFalco; Nick Visaggio and Walter Fitzsimmons, who joined Aprio as partners; and a team of 11 professionals.
With existing teams in New York and New Jersey, the addition of DeFalco & Co. CPA brings Aprio’s presence in the region to three offices and more than 150 professionals.
Aprio has been on a buying spree since receiving private equity backing from Boston-based investment firm Charlesbank Capital Partners a little more than a year ago. In addition to recently expanding in the Boston area, Aprio has recently grown its footprint in key markets, including Washington, D.C., Chicago, Austin, Denver, Baltimore, and California.
Aprio also recently acquired TimeCredit, a 2024 AICPA and CPA.com Startup Accelerator company located in Boston, as part of a five-year, $300 million commitment in artificial intelligence and automation that the accounting firm is making, with the goal of building “a scalable, AI-enabled firm that delivers measurable value for clients and team members alike.”
- Related article: Aprio Gets Private Equity Infusion
- Related article: Aprio Makes $300 Million AI Investment, Acquires TimeCredit
The deal with DeFalco & Co. CPA “significantly expands our ability to serve clients across the Northeast with a broader range of tax, audit, and advisory services,” said Aprio CEO Richard Kopelman.
“By bringing DeFalco & Co, CPA into Aprio, we are enhancing our capabilities and deepening our presence in the region,” he added. “Together, we’re building on our momentum and positioning Aprio to set the standard for service and growth in the Northeast over the next three years.”
Founded in 1971 by Louis DeFalco, DeFalco & Co. CPA offers a full suite of services, including tax planning and preparation, business accounting and advisory, estate and trust consulting, and litigation support.
“Aprio is a firm we have long admired for its impressive growth, forward-thinking mindset, and focus on delivering value to clients,” said Philip DeFalco, now a partner at Aprio. “Joining forces allows us to bring even greater resources and capabilities to our clients while continuing to provide the personalized service they expect. We are excited about the opportunities ahead and the benefits our clients will experience as part of an agile, client-centric firm.”
Joe Tarasco, of Accountants Advisory, served as the advisor to Aprio on the transaction.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
