RSM McGladrey, Inc. and McGladrey & Pullen, LLP, a leading provider of assurance, tax, and consulting services, this week announced the acquisition of Caturano and Company, Inc., a New England-based full-service accounting, auditing, tax, and business advisory firm.
Together with Caturano and Company, McGladrey will now rank as the fifth largest assurance, tax, and consulting firm in the New England region based on the number of CPAs, according to the company. The acquisition became effective July 20.
The combined Boston practice, with approximately 500 employees, will be branded McGladrey and led by Richard Caturano, a co- founder of Caturano. Steve Dooley, who currently leads McGladrey’s Boston practice, will remain with the firm and lead the integration process.
“The merger is an important part of McGladrey’s growth plan, which includes acquiring outstanding businesses in select markets. We are excited for the many growth opportunities Caturano and Company will provide for our clients, employees, and the firm,” said C.E. Andrews, president and chief operating officer at RSM McGladrey.
“Our new firm will be a powerhouse in the marketplace, with clients benefiting from the collective depth of talent and industry expertise. They will have the resources of a global firm with strong, high-touch local service, which is something that truly differentiates us,” Andrews said.
Clients, from the small family-owned businesses to the large, publicly traded companies, are the real benefactors, according to Richard J. Caturano, president and CEO, Caturano and Company. “McGladrey is the right partner for Caturano because both firms share the same approach to delivering innovative, proactive and exceptional client service.”
Combined, the new McGladrey in Boston will have deep industry expertise in sectors key to the Boston marketplace, according to the company. McGladrey has a presence in higher education, not-for-profit, and financial services. Caturano has market share in high-tech, biotech, manufacturing, and professional services. Both have large construction practices, and Caturano has a strong consulting practice in the region.
“Richard and his team have led Caturano and Company through a remarkable period of 400 percent growth over the last several years, ensuring their clients had the best advice and service,” said Dave Scudder, managing partner at McGladrey & Pullen. “Further, he has been an active and influential leader in our industry and the Boston community for many years and we are looking forward to having him join our team.”
Caturano clients also will benefit from McGladrey’s membership in RSM International, the sixth largest global network of independent accounting, tax, and consulting firms.
“More and more of our clients are looking for firms with a national, and even international presence, and McGladrey brings some of the strongest expertise in the areas most important to our clients,” said Caturano. “Together we will bring world-class assurance, tax, and consulting expertise to our clients through strong, longstanding personal relationships.”