M&A roundup: Dean Dorton and Tronconi Segarra expand

October 1, 2021 1:58 PM

Dean Dorton Allen Ford merged in Penny Longobardo & Co.; and Tronconi Segarra & Associates added Feeley, Bonaventura & Hyzy CPAs.

NORTH CAROLINA: Dean Dorton Allen Ford merges in Penny Longobardo

Courtesy of Dean Dorton Allen Ford

Details: Dean Dorton Allen Ford PLLC is expanding its footprint in Raleigh, North Carolina, by merging with Penny Longobardo & Company, P.A., effective Oct. 1.

Financial terms were not disclosed. Dean Dorton, based in Lexington, Kentucky, ranked No. 11 on Accounting Today’s Regional Leaders list for the Top Firms in the Southeast. The firm earned $38.92 million in annual revenue.

Dean Dorton has 281 employees across three offices in Raleigh, Lexington, and Louisville, Kentucky. PLC has two partners, three staffers and two administrative team members joining the firm.

“The addition of Penny Longobardo and their team helps us to better serve our growing practice in Raleigh,” said Dean Dorton president and CEO David Bundy in a statement Friday. “We are enthusiastic about continuing the high level of service and expertise Penny Longobardo has provided its notable client base while bringing additional services to the market such as data analytics, cybersecurity, health care consulting services and much more.”

In July,

Dean Dorton acquired Breakpoint Technology

, a data analytics and technology collaboration practice based in Louisville, Kentucky.

NEW YORK: Tronconi Segarra & Associates adds Feeley, Bonaventura & Hyzy CPAs

Tronconi Segarra managing partner James S. Segarra

Photo: Tom Wolf

Details: Tronconi Segarra & Associates LLP, a regional CPA firm based in Williamsville, New York, added Feeley, Bonaventura & Hyzy CPAs, P.C. to its CPA practice, effective Oct. 1.

The deal adds three partners and six associates from Feeley, Bonaventura & Hyzy. After the merger, Tronconi Segarra will now have 20 partners and a total of nearly 130 employees. Feeley, Bonaventura & Hyzy was founded in 1989. All three of the CPA partners previously worked at the Buffalo office of PricewaterhouseCoopers and left to open their own CPA practice in Williamsville. They are all relocating to Tronconi Segarra’s office in Williamsville. Financial terms of the deal were not disclosed.

“The blending of our two firms makes perfect sense on a number of levels,” said Tronconi Segarra managing partner James S. Segarra in a statement Friday. “Both of our firms have a strong focus on providing exceptional client service.”