Top 40 accounting firm Rehmann is combining with Martinet Recchia, a family-owned CPA firm in the Cleveland suburb of Willoughby, OH.
Financial terms of the deal weren’t disclosed. All Martinet Recchia shareholders will remain with the firm, as will the entire staff, and the firm will continue to operate in its current location under the Rehmann name.
Troy, MI-based Rehmann currently has an office in Toledo, OH.
Martinet Recchia was founded in 1955 by Thomas and Richard Martinet. Richard’s son Keith Martinet remains a shareholder today, while managing shareholder Joseph Recchia joined the firm in 1998. The accounting firm offers a full range of tax and business consulting to the construction, manufacturing and distribution, restaurant and hospitality, and professional services industries.
“We’re thrilled about this mutually beneficial business combination and what it means for our clients and their organizations,” Rehmann CEO Stacie Kwaiser said in a statement. “Both firms share similar cultural values and philosophies related to client service, striving to be good community partners, and supporting the areas in which our associates live and work. The added expertise and capacity on both sides will allow us to continue maximizing client potential in Ohio and beyond.”
Keith Martinet said he and the rest of the firm are excited about this new chapter in joining Rehmann.
“Like Rehmann, we put people first,” he added. “As a small local firm, we pride ourselves on meeting regularly with our clients in person, which has inspired their loyalty over the firm’s 70 years. Similarly, we’ve always taken care to prioritize work/life balance for our staff, and it’s their commitment—in addition to our great clients—that has made us successful. I think if my father saw where the firm was now, he would be very proud.”
“Combining with Rehmann offers more professional development opportunities for our associates who want to advance in their careers,” Recchia added. “We’re always looking for ways to better serve our clients, and this combination gives us increased capacity and broader services in a competitive market. It will still be our associates on the end of the phone offering the same quality service, but now we’re one team serving clients in the Cleveland area.”
Rehmann announced in March that it plans to merge with Vero Beach, FL-based CPA firm Kmetz, Elwell, Graham & Associates. That deal is expected to close on June 1.
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