Baker Tilly has announced it has acquired West Virginia-based accounting and consulting firm Arnett Carbis Toothman (ACT) and its subsidiaries.
ACT’s 275 team members will join Baker Tilly as part of the acquisition.
The combination will be effective from November 1 2021.
ACT has been in practice for 75 years, based in West Virginia, Pennsylvania, Ohio and throughout the US.
Following the acquisition ACT CEO James Hunt will become managing partner of the Pennsylvania and West Virginia markets, overseeing offices in both states.
In further plans, Fred Massanova, currently Baker Tilly managing partner, will take on a regional leadership role as managing partner in Eastern US, reporting to Jeff Ferro.
Ferro will lead the expansion of Baker Tilly’s Mid-Atlantic and Northeast footprint with a “particular focus on the I-95 corridor”.
Ferro said: “ACT has top-notch talent, strong leadership and exceptional client relationships. We are committed to this region and excited for the possibilities this combination will bring.”
Hunt said: “Baker Tilly brings substantial resources and capabilities to ACT’s clients — and a team member experience to match. There is a natural synergy and genuine respect between our firms, and we know that Baker Tilly is the right place with the right vision and strategy to excel.”
Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination, added: “ACT is an exceptionally well-managed firm and was an attractive potential partner to a number of other top accounting and consulting firms wanting to grow in the Mid-Atlantic region.
“Baker Tilly’s strategy and client service philosophy combined with its people-centric workplace emerged as the natural choice to catapult ACT’s future-forward vision.”