Parente Randolph, LLC, one of the top accounting and consulting firms in the United States and the largest independent audit firm in Pennsylvania, recently announced the largest merger in the firm's history. Effective February 15, the firm combined its practice with New York City-based, Lazar Levine & Felix LLP, a 40-year old firm that provides professional accounting and consulting services to individuals, law firms, private companies, and public corporations in the greater New York/New Jersey metropolitan area. Additionally, Lazar Lipton Valuation Services LLC, an affiliate of Lazar Levine & Felix, has become a division of Parente Randolph. The $16 million merger will bring Parente Randolph's size to 650 team members with a principal count of 82.
"We are thrilled to be joining forces with Lazar Levine & Felix and Lazar Lipton Valuation Services and the benefits all of our clients will receive as a direct result of this merger," stated Robert J. Ciaruffoli, chairman and CEO of Parente Randolph. "Our services complement each other and their location ties in directly with our growth plan. Having solidified our footprint in New Jersey and expanding into New York City, we look forward to the new business development opportunities and attraction of talent this merger will bring."
Started in 1970 in Wilkes-Barre, Parente Randolph made Philadelphia their corporate headquarters in 2004. Lazar Levine & Felix and Lazar Lipton Valuation Services' offices in The Empire State Building and Morristown, NJ, will expand Parente's geographic reach to now include the greater New York City/Northern New Jersey metropolitan area. As part of an aggressive growth plan, the merger further expands the firm's footprint throughout the Mid-Atlantic region (NY to Washington, DC). Leading the New York Metro Region will be Ted Felix, previously managing partner of Lazar Levine & Felix, now regional principal in charge.
"Parente Randolph has provided an opportunity for us to play a significant role in the future of our combined firms," states Ted Felix. "Our team members will benefit from better training, innovative programs, sophisticated HR services, increased opportunities for specialization and office transfer, and from being part of a larger organization with many more peers. We feel, to use an old expression, this combination will make one and one equal three."
Over the years, Parente Randolph has gained a reputation for excellence in providing a wide array of services businesses require to compete in today's fast paced environment including Assurance Services, Tax Services, Corporate Finance & Valuations, Corporate Governance and Risk Management, Employee Benefit Plan Audits, Forensic Accounting and Litigation Services, Benefits Administration & HR Consulting Services, Business Systems Consulting, and Healthcare Consulting. In joining with Lazar Levine & Felix and Lazar Lipton Valuation Services, Parente can now offer Matrimonial Services and a Family Office Practice, while also expanding and enhancing the firm's Business Valuation and Litigation Support services.
Joining Parente Randolph as Principals are Paul Adams, Eric J. Barr, Amiram (Kiki) Bielory, Ted M. Felix, Jay B. Goldberg, Lawrence Gotfried, Henry B. Guberman, Moshe Levitin, Joan Lipton, Nazeleen Sataur, Thomas R. Vreeland. Retired partners O. David Fischer, Melvin Lazar and Spencer Wissinger, III, will continue to provide services to the new entity.
About Parente Randolph
Parente Randolph is one of the top 35 accounting and consulting firms in the United States and is headquartered in Philadelphia. The firm is an independent member of Baker Tilly International, an international network of accounting and business advisory firms. Parente Randolph services clients from offices throughout Pennsylvania, New York, New Jersey, Delaware, and Texas.