Grassi expands New Jersey presence with strategic acquisition

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

The move adds four partners to Grassi’s leadership team: 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.

“For the past 37 years, we have had the privilege of serving the businesses and residents of New Jersey and growing alongside them,” said Ted Carnevale, founder of GCS and new Grassi partner. “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.”

“Helping businesses grow in New Jersey and throughout the tri-state area has always been a priority for our firm,” added Louis C. Grassi, managing partner of Grassi. “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.”

New Jersey is one of seven Grassi locations, which also include 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.

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