New Jersey-based CPA firm J.H. Cohn, LLP and The Videre Group have announced an agreement to merge the two firms to create the largest regional accounting firm in the Northeast. J.H. Cohn is about three times the size of The Videre Group, and will continue to be the name of the combined entity.
The merged firm will have over 600 employees, revenues of approximately $100 million, and eight offices in New York City and New Jersey.
"The combination of our two firms will give us the critical mass we need to further expand our presence in New York City, Long Island, Westchester, and Connecticut," said Thomas J. Marino, CEO of J.H. Cohn.
The Videre Group, a strong firm of about 150 people, grew steadily over the past few years, but had difficulty capitalizing on its size, seen by many as too big for small clients and too small for big clients. "We weren't on the radar screen for companies that easily could have become clients," Videre marketing director Sally Glick said. "Trying to break through that barrier was frustrating."
David S. Talesnick, chief executive of The Videre Group, will become president of The Cohn Consulting Group, a division that provides business solutions and technology services for public companies and middle-market businesses.
The final details of the merger are being worked out, and the transaction is expected to close before the end of April.