Baker Tilly US acquires West Virginia-based Arnett Carbis Toothman
Baker Tilly US has acquired Arnett Carbis Toothman LLP (ACT), an accounting and consulting firm based in Charleston, WV.
Founded in 1946, ACT provides insurance, tax and advisory services to commercial, government and non-profit organizations. The firm’s consulting services include business valuation, litigation support, regulation and compliance, as well as IT consulting.
ACT has approximately 275 employees in eight offices in West Virginia, Pennsylvania and Ohio.
The acquisition of ACT by Baker Tilly will strengthen the presence and capabilities of the midsize company in the eastern United States.
“ACT has top-notch talent, strong leadership and exceptional client relationships,” said Jeff Ferro, Baker Tilly’s regional managing partner for the Eastern and Central United States. “We are attached to this region and delighted with the possibilities this combination will bring. “
After the merger closes on November 1, ACT CEO James Hunt will become managing partner for Pennsylvania and West Virginia. Fred Massanova, Baker Tilly’s current Managing Partner for Pennsylvania, will be promoted to Managing Partner for the Eastern US Region and will report to Jeff Ferro.
“Baker Tilly brings substantial resources and capabilities to ACT clients – and a team-building experience to match,” Hunt said. “There is a natural synergy and real respect between our businesses, and we know Baker Tilly is the right place with the right vision and the right strategy to excel. “
The acquisition builds on Baker Tilly’s purchase of Margolin, Winer & Evens in August, which added 130 team members to the company’s New York Metro offices.
Baker Tilly also expanded his technology practice this month with the acquisition of AcctTwo, a Houston-based Sage Intacct specialist.