Deal will mark the expansion of The Bonadio Group into the Mid-Atlantic Region
Rochester, N.Y., October 30, 2024 — The Bonadio Group, a nationally ranked IPA Top 50 CPA firm and the largest independent provider of professional services in Upstate New York, will expand into the Mid-Atlantic region with today’s announcement that it will join with award-winning CPA advisory firm Cover & Rossiter (C&R). The merger is expected to close on December 1, 2024, when all employees of the Delaware-based CPA firm will join The Bonadio Group and C&R will begin to operate under The Bonadio Group brand.
Based on the potential for growth in a robust business environment, The Bonadio Group has long-sought opportunities to establish a presence in the Mid-Atlantic region. Combining with C&R is the first step in this growth strategy, as the esteemed firm will continue to service its clients across Delaware and beyond alongside the highly experienced team at The Bonadio Group.
C&R, which was founded in 1939, provides a depth of experience in tax, assurance, estate trust, and accounting services, with specialized expertise in advising on tax law, audit standards, and complex estate and trust documents. Its primary clientele includes businesses, nonprofits, families, and individuals. These focused tax capabilities complement The Bonadio Group’s comprehensive assurance and advisory services, which are dedicated to helping clients maximize financial results and minimize risk.
“C&R’s longstanding and highly awarded reputation, location, and the expertise of its talented team make this merger an exciting expansion of both our capabilities and footprint,” said Bruce Zicari, chief executive officer and managing partner, The Bonadio Group. “We look forward to introducing our specialized services to the Mid-Atlantic region, and we expect the addition of the C&R team to enhance not only our client service offerings, but our culture.”
In addition to over 20 new team members, The Bonadio Group will welcome six C&R leaders to the team, including two directors, three principal executives, and Managing Director Marie Holliday.
“Merging with The Bonadio Group provides our firm with even more resources and depth of knowledge to continuously enhance the way we serve our clients and support our employees,” said Holliday. “We look forward to leveraging the technology, expertise, and training opportunities that come with being a part of a large firm with a national reach, allowing us to build on the success of C&R’s 85 years of excellence.”
Robert Fligel of RF Resources, LLC, a leading provider of M&A advisory services, acted as the advisor in this transaction. For more information on The Bonadio Group, visit www.bonadio.com. For more information on C&R, visit: https://www.coverrossiter.com/.
C&R clients please visit our information and resource page for transition details.
About The Bonadio Group
The Bonadio Group is a nationally ranked IPA Top 50 CPA firm and the largest independent provider of accounting, assurance, tax, and consulting and advisory services in Upstate New York. The firm maintains several offices across the country, with team members operating globally. Its expert team of industry-leading professionals serve as trusted advisors to clients of all sizes, helping businesses and organizations reach their short- and long-term goals. The Bonadio Group is committed to delivering top-tier client service, providing continuous community support and creating an unparalleled employee experience. For more information, visit www.bonadio.com.