PBMares LLP, a Top 100 Firm based in Newport News, Virginia, has expanded in the Capital Region by merging in Santos Postal & Company in Rockville, Maryland.
Santos Postal has been ranked as a Best Accounting Firm to Work For by Accounting Today for the past seven years. The firm was founded in 1971 and provides a wide variety of accounting, tax and advisory services. PBMares dates back to 1963, when it was known as PBGH before it combined with Witt Mares.
Financial terms of the deal were not disclosed. As of Jan. 1, 2019, the combined firm will have 45 partners and more than 300 employees, with 10 offices in Virginia and Maryland. PBMares ranked No. 100 on Accounting Today’s 2018 list of the Top 100 Firms. The firm earned $50 million in annual revenue.
“We are pleased to welcome the partners and staff formerly with Santos, Postal & Company to PBMares,” said PBMares CEO Alan Witt in a statement. “This combination strengthens our presence in the region by capitalizing on the solid reputation Santos Postal has earned for so many years. Santos Postal’s experience in real estate, business valuation and business consulting complements our existing niche practices.”
As part of the deal, two Santos Postal partners will be joining PBMares’ tax and assurance practice leadership teams. Vicki Young will become the regional tax practice leader, while Tony Orsborne will become the assurance practice leader. PBMares specializes in serving businesses of all sizes in the construction, banking, government contracting, health care, insurance, manufacturing, not-for-profit, real estate, restaurant, retail, state and local government, and technology sectors. It’s an independent member of the RSM Alliance.
PBMares plans to keep all of Santos Postal’s professionals in the current Rockville office.
“We have a long history of strong relationships with emerging businesses and entrepreneurial individuals in the Rockville community,” said Santos Postal managing partner Charles Postal in a statement. “Clients will still receive the same close personal attention they have come to expect from our team, but now they will have access to a wider array of solutions and broader industry experience with PBMares. PBMares has a very similar service philosophy and culture that will make our transition into the firm seamless. PBMares also has a well-earned reputation for being committed to serving the communities of their team members. In addition, our team members will now have access to more training and more career growth opportunities.”
