Top 100 Firm blumshapiro has expanded in Massachusetts by adding Cowan Bolduc Doherty, a firm based in North Andover, effective August 1.
The deal will add 20 professionals, including three partners, to blumshapiro. Financial terms were not disclosed. Blumshapiro, based in West Hartford, Connecticut, ranked 58th on Accounting Today’s 2019 list of the Top 100 Firms, with $83.4 million in annual revenue. The firm has approximately 60 partners and 450 employees.
The combination with CBD will expand blumshapiro’s footprint in Massachusetts to five offices. The North Andover office will join blumshapiro’s existing locations in Boston, Newton, Quincy and Worcester. Besides its West Hartford headquarters, blumshapiro also has offices in Shelton and Marlborough, Connecticut and Cranston, Rhode Island.
“CBD’s strong and well-respected team of auditing, accounting and tax experts — and their reputation for providing exceptional client service — greatly complements blumshapiro and further supports our commitment to provide our clients the personal level of service that has contributed to our firm’s success,” said blumshapiro CEO Joseph A. Kask in a statement.
CBD specializes in accounting, financial and tax due diligence, business financing, estate planning, individual tax preparation and planning, multi-state tax planning, business tax preparation and planning, and 401(k) audits.
“Since our founding in 1988, CBD has fostered strong relationships with our clients in northeastern Massachusetts,” stated CBD partner Stephen J. Doherty. “For more than 30 years we have embraced growth and change, and this merger with blumshapiro is a natural next step in providing our clients with more resources while maintaining the personalized commitment they have come to expect from CBD.”
Adamson Advisory LLC advised both firms on the merger. “This combination helps extend blumshapiro’s reach and leadership serving entrepreneurial clients in the Boston market,” stated CEO Gary Adamson. “Cowan Bolduc Doherty has been a leader serving the Boston market for many years and was attracted to blumshapiro because of their outstanding talent pool and extensive range of services focused on the middle market.”
