Business

Grassi expands New Jersey presence with acquisition

In addition to expanding the firm's number of New Jersey professionals, the acquisition increases Grassi's service capabilities in key market sectors that GCS also served

Top-100 advisory and accounting firm Grassi has expanded its presence in the New Jersey market with the acquisition of Gramkow, Carnevale, Seifert & Co. (GCS), effective March 29, 2021.

The move adds four partners to Grassi’s leadership team. This includes Ted Carnevale, who was also appointed co-leader of the New Jersey Market, Francis Shovlin, Dino Rizzo and Bob Carpenter.

Along with 25 staff members, they will continue to serve clients from their current location at Two Forest Avenue in Oradell, N.J., before relocating to Grassi’s Park Ridge, N.J., office later this year.

New Jersey is one of seven Grassi locations, which also includes offices in New York, Jericho, Ronkonkoma and White Plains, N.Y.; Needham, MA; and Palm Beach, FL. 

In addition to expanding the firm’s number of New Jersey professionals, the acquisition increases Grassi’s service capabilities in key market sectors that GCS also served, including healthcare, real estate, manufacturing and distribution, professional services and nonprofit.

Carnevale said: “For the past 37 years, we have had the privilege of serving the businesses and residents of New Jersey and growing alongside them.

“As our clients continue to grow and evolve, joining a regional leader like Grassi was a natural choice in our ongoing mission to provide them with the expanded resources and services they need to succeed.”

Louis C. Grassi, managing partner of Grass, said: i“Helping businesses grow in New Jersey and throughout the tri-state area has always been a priority for our firm. The addition of such an established and reputable New Jersey firm to our team not only deepens the pool of talent and experience we can provide but also demonstrates our unwavering commitment to the state’s business community and vital industries.”

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