New Jersey-based SobelCo announced that it will merge with Woodcliff Lake-based Weber, Shapiro & Co., effective Jan. 1, 2019.
Financial terms of the deal were not disclosed, but Weber Shapiro’s four partners and 17 staff are expected to join SobelCo’s 19 partners and close to 150 professionals. They will remain in their current office, giving the combined firms three locations, with the two others in Livingston, N.J., and Paoli, Pennsylvania.
“Our merger with the partners and professional staff at Weber, Shapiro & Co. complements our vision because they, too, have been able to deliver the valuable solutions and suggestions that are essential for the leaders of today’s privately-held, family-owned businesses,” said SobelCo managing member Alan Sobel, in a statement. “Over the years we have carefully managed our firm’s growth while seeking partners who align with our culture and increase our opportunities. We have found that great fit with Weber Shapiro.”
Weber Shapiro was founded in 1983, and took its current name in 1994. SobelCo was founded in 1956.
Both firms serve professional service firms, manufacturing/distribution, retail, real estate, nonprofit and social services, financial services and employee benefit plans, and both have experience with franchises, media and marketing, as well as back office outsourcing/core accounting functions, CFO support, and concierge services.
Weber Shapiro also brings a focus on technology and telecommunications to the merged firm, as well as an international tax practice with a niche practice serving expatriates, and a number of clients abroad.
“The merger of our two firms under the SobelCo name will serve to reinforce the mission of both firms – with important benefits for the clients and the business community,” said Mark Weber, co-founder of Weber Shapiro and the managing partner of the Woodcliff Lake office, in a statement. “As a result of our merger we will not only extend our geographic reach but we also enhance each other’s strengths as we share important resources, niche knowledge, and powerful relationships in the business community.”
The two firms expect to maintain their memberships in two different international associations, Allinial Global and the Alliott Group.
