Sax Macy Fromm & Co. PC of Clifton, N.J.,
and Bollam, Sheedy, Torani, & Co LLP (BST)
headquartered in Albany, will merge the two
accounting and business consulting firms,
effective Jan. 1.
The new company, to be named SaxBST,
will rank among the top 100 firms nationally,
with more than $45 million in combined
annual billings, according to the two companies.
SaxBST will maintain offices Albany,
Mineola, N.Y., and Clifton, N.J.
“Coming together made a great deal of
sense for our two practices. Both firms’ approach
to servicing clients and helping them
realize their dreams are perfectly aligned,”
said Robert Paz, managing partner of SMF.
“Creating one firm allows us to provide an even deeper level of expertise and a better focus on each client’s unique challenges. each firm features some service offerings that the other does not, further contributing to the synergy of this merger.”
“People and relationships are the DNA of our new union. we are driven to see our clients succeed by providing solutions that exceed expectations and assure their success,” said Stephen L. Ferraro of Saratoga Springs, BST managing partner. “Sax Macy Fromm shares many of the same values that drive our business, including a commitment to highly personalized client service, deep industry expertise, and a dedication to employees and the communities we serve.
“Combining these two well-respected firms creates a positive-thinking and future oriented organization with a superior industry reputation.”
Ferraro said for upstate New York clients, there will be no changes except that “there will be additional resources at our disposal that we’ll be able to bring to the table” when talking with clients that include many in the Saratoga region.
He said there are niche areas each company has that will now be beneficial to clients across the board. For example, he noted, SaxMacy Fromm has a large wealth management/trust/estate planning segment that can be put to good utilization in the Saratoga region. That company is also strong in construction and real estate markets. BST has a much stronger presence in the government audit area and that’s one of the things that will benefit SaxMacy Fromm in the merger.
The professionals at SMF and BST also will contribute to SaxBST’s forward-thinking philosophy, the partners said. Many hold key leadership positions in numerous professional and business organizations and are often sought to share their expertise at industry events.
Ferraro said some strategic planning meetings have already been held to determine processes and procedures that will benefit customers through the entire, larger, geographic area when the merger is completed.
SMF has been named as a “best place to work” by trade and business publications, and both firms have long been recognized for their outstanding community involvement and charitable endeavors.
Once the merger is complete, SaxBST’s multi-disciplinary accounting, tax and financial consulting services will continue to meet the needs of privately held companies, family-owned businesses, not-for-profit entities and high-net-worth individuals throughout the New York tri-state area, firm officials said.
The firm’s industry segments and niches include commercial real estate, construction, manufacturing and distribution, employee benefits, retail, financial services, medical and professional services, not-for-profit, government and labor unions.