Rochester, NY-based DeMott & Smith CPAs has joined Insero Advisors, an INSIDE Public Accounting top 300 firm also based in Rochester, effective Oct. 31.
Financial terms of the deal weren’t disclosed.
Insero currently employs approximately 150 employees with offices in Rochester and Ithaca, NY. The deal will add 12 new employees to Insero, including two partners.
This merger expands Insero’s capacity to serve clients in various industries while reinforcing its local roots, the firm said in a media release.
The deal with DeMott & Smith provides Insero with more resources for tax compliance and advisory, and it enhances Insero’s capabilities across audit, outsourced accounting, recruiting, and consulting.
“Insero has always been committed to helping our clients succeed by providing solutions that address their unique challenges and opportunities,” Insero CEO Nancy Catarisano said in a statement. “We are excited for this next step as we welcome the DeMott & Smith team and clients.”
Founed in 1988 by Thomas DeMott and Stephen Smith, DeMott & Smith provides accounting, auditing, tax filing, and consulting services to high-net-worth individuals and closely held businesses.
“Our decision to join Insero reflects our shared values, and we are confident that together we will continue to provide our clients with the highest quality of service,” said Jason DeLaurentiis, managing partner of DeMott & Smith who has joined Insero as a partner.
“This transaction combines the collective strength, expertise, and resources of both firms to create a stronger foundation for the future, ensuring our clients benefit from even greater value, continuity, and personal service for years to come,” added Ben Dobrzynski, who also has joined Insero as a partner.
Earlier this year, Insero received a strategic investment from private equity firm Rallyday Partners, a move designed to accelerate the accounting and advisory firm’s growth and expand its service offerings to meet the evolving needs of its clients.
Insero operates an alternative practice structure in which Insero & Co. CPAs LLP, a licensed CPA firm, provides attest services, and Insero Advisors LLC provides business advisory, tax, and other non-attest services.
The firm, founded in 1972, had revenue of $24.25 million in its most recent fiscal year, according to INSIDE Public Accounting.
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