Feb 25th 2010
New York City-based Graf Repetti & Co. has announced that it combined with Zeidman, Lackowitz, Prisand & Co.'s Commercial and Tax Division on January 1, taking on four partners and staff in its Plainview, NY office on Long Island.
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Graf Repetti CEO Peter Graf told AccountingWEB: "The decision-making process included getting to know the partners and key employees to make sure there is compatibility. We also examine work papers, look at their pay structure, and the type of clients they are servicing and billing rates." Spending time with the partners helped the firm determine that Zeidman was a good match, in terms of culture, philosophy and client base.
Zeidman partners Ted Lackowitz, Steven Battino, George Klueg and Steven Wegert are practicing in their existing offices in Plainview, NY, and are now partners in Graf Repetti & Co., LLP.
Graf, in a statement, said adding the partners and their staff gives Graf Repetti a "tremendous presence in Long Island."
Zeidman Managing Partner Ted Lackowitz said in a statement: "While we are very proud of the more than 36-year history of our firm starting with its founding by the late David Zeidman in 1974, we also recognize that the next step for our team and clients is to merge with a firm of comparable quality that would enable us to expand services to our local, regional and national clients."
The Cooperative Housing and Condominium division of Zeidman, Lackowitz, Prisand & Co. was not part of the merger and has formed a new entity known as Prisand, Mellina, Unterlack & Co., LLP.
On January 1, 2009, Marx, Lange, Gutterman LLP of New York City merged into Graf Repetti. At the time, Graf said, "Our firm is on an active growth track. Mergers are one way to help achieve this goal."
Accounting Transition Advisors assisted in the most recent transaction.