Aprio, a Top 100 Firm based in Atlanta, has merged in Leaf, Miele, Manganelli, Fortunato & Engel LLC (which also goes by Leaf Saltzman), a firm in Fairfield, New Jersey, effective June 1, 2022.
As part of the deal, Leaf Saltzman’s 32 team members, including five partners, will join Aprio and expand the firm’s Northeast practice. Aprio has more than 900 staff members.
Financial terms of the deal were not disclosed. Aprio ranked No. 35 on Accounting Today’s 2022 list of the Top 100 Firms, with $171 million in annual revenue. Leaf Saltzman’s annual revenue was $8 million.
Aprio managing partner and CEO Richard Kopelman predicts the firm will be doing $250 million in revenue by July 1 after a string of mergers and acquisitions in recent years. “We’ve completed 13 mergers and acquisitions over the last few years and we’ve had organic growth in excess of 14% year over year for the last four years,” he recently told Accounting Today. “We’ve been doing that all while maintaining our culture, and not just maintaining it, but building it and being recognized in many of our markets as one of the best places to work. We were recognized by Glassdoor as one of the 50 top places to work for employers under 1,000 people. We were the only accounting firm on the list and we debuted at No. 38.”
Leaf Saltzman has provided accounting and financial services to clients across the Northeast for more than 45 years, serving various industries including manufacturing and distribution, construction and real estate, professional services, international and private equity.
Leaf Saltzman vetted several firms across the country and identified Aprio as the strategic choice to scale its thriving client base for years to come.
“Since our firm’s inception, we’ve established strong personal relationships with our clients and the local community,” said Larry Leaf, the MP of Leaf Saltzman and new national trust and estate leader at Aprio, in a statement Tuesday. “Together with Aprio, we will widen our breadth of capabilities and services, further priming the financial future of our clients, local communities and beyond.”
“The Northeast is a vital market for Aprio’s ambitious national growth strategy. The combination with Leaf Saltzman yields immense benefits for our combined client-centric team members and growing client base,” said Adam Venokur, Northeast regional leader at Aprio, in a statement. “We are honored to welcome Leaf Saltzman to the Aprio team and anticipate a seamless transition for our new clients.”
Ira Rosenbloom, chief operating executive of Optimum Strategies advised Aprio and Leaf Saltzman on the transaction.
In December, Aprio merged in
