With the goal of expanding the accounting and consulting firm while maintaining its strong presence in New York City, The Resnick Druckman Group LLC last month announced mergers with Sigmund Balaban & Co. and Gilbert, Wolff and Co.
“All New York, that was key for us to really get the synergies,” Jeffrey Resnick, managing partner at Resnick Druckman, told AccountingWEB. “For them to understand what we do and for us to understand what they do, and for the staff to feel like it is one firm instead of us and them, we all needed to be under one roof and really integrate it.”
As a result of the mergers, which were finalized in December, the offices of Sigmund Balaban and Gilbert Wolff were closed and both do business as Resnick Druckman, according to Resnick. Everyone from both staffs joined the expanded Resnick Druckman, with the exception of two members of the administration staff.
“These two firms have both built strong legacies in [New York City] based on their abilities to combine an in-depth understanding of their clients’ businesses with their perspectives as CPAs. In both instances, these firms have a solid reputation for providing their clients with tangible, bottom-line advice,” Resnick said. “Their combined experiences and expertise in closely held companies, high net-worth individuals, real estate, and sophisticated tax planning and structuring is well known and respected within the accounting profession and we are proud to have them on our team.”
Once the firm obtained additional office space, Resnick Druckman, which specializes in such mid-market companies as apparel, health care, and real estate businesses, set its sights on expansion in January of 2009.
“I knew all along that continued growth would not only be internally but it would also be through strategic alliances and strategic mergers. We identified two firms that were the right fit, the right mentalities. We think the same way; we want to service the clients the same way,” said Resnick, who added that Sigmund Balaban and Gilbert Wolff have clientele similar to that of Resnick Druckman.