Firm Management
Northeast U.S. Accounting Firms Arnett and Carbis to Merge
The accounting firms of Arnett Foster Toothman PLLC and Carbis Walker LLP, both located in the northeastern U.S., will merge to form a new firm, Arnett Carbis Toothman LLP, effective on January 1, 2015. The new firm will likely be among the largest 100...
Oct. 23, 2014
The accounting firms of Arnett Foster Toothman PLLC and Carbis Walker LLP, both located in the northeastern U.S., will merge to form a new firm, Arnett Carbis Toothman LLP, effective on January 1, 2015. The new firm will likely be among the largest 100 largest accounting firms in the United States.
Management of both firms worked together and jointly shared the news with staff at planned meetings within their respective offices on Friday, October 17, 2014. “This is a welcome merger of two highly diverse and well-managed firms who share similar corporate cultures and philosophies,” said Steve Robey, CEO of the new firm.” It is a bold and an exciting move not only for our firms but for our region. Our combined expertise makes Arnett Carbis Toothman ideally positioned to provide clients even higher levels of service and counsel, and in broader areas.”
Arnett Carbis Toothman Pennsylvania offices will include locations in New Castle, Pittsburgh, and Meadville, complementing West Virginia offices in Charleston, Bridgeport, Buckhannon, Morgantown, and Lewisburg, as well as Columbus, Ohio. The two firms share similar historical timelines. Arnett Foster Toothman traces its roots to 1950 and employs 160 people. Carbis Walker was formed in 1946 and employs 105 people.
“The new firm immediately enhances our existing niche sectors and strengthens new business opportunities,” emphasized James Hunt, formerly Carbis Managing Partner who will now be Chairman of the firm’s Executive Committee. “Our combined expertise and experience in sectors such as health care, construction, financial institutions, oil and gas/natural resources, and manufacturing, among others, will certainly be an asset to clients requiring world-class service over a regional footprint.” Hunt noted the combined firms will now have expanded capabilities and even greater specialization and will be “uniquely positioned to provide greater technical support to clients.”
Robey and Hunt commented the management teams of both firms will remain intact and will continue their management and leadership roles with the new firm. Hunt also added cutbacks or layoffs are not anticipated. “If anything, our new company will create expanded opportunities for existing – and new – staff.” Robey outlined that the subsidiary and affiliated companies of both firms will for now continue with “business as usual.”
Total Practice Management, LLC and Walker Benefits, Inc. will become subsidiaries of Arnett Carbis Toothman LLP. The operations of AF Financial Holdings LLC (AFFH), and its subsidiaries that include AF Financial Advisors LLC (AFFA) and AF Insurance Advisors LLC (AFIA), will operate as affiliated companies of Arnett Carbis Toothman. Robey also noted that it is anticipated that OPIS, LLC and AFFA will combine operations to provide consistent, unified asset management to all clients.