Baker Tilly has agreed to acquire Anchin, Block & Anchin (Anchin), a New York-headquartered accounting, tax and advisory practice, for an undisclosed sum.
Founded in 1923, Anchin serves privately held businesses, investment funds and high-net-worth individuals and families.
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Its clients operate in sectors such as architecture, construction, consumer products, engineering, financial services, professional services and real estate.
Anchin serves clients from offices in South Florida.
Anchin managing partner Russell Shinsky said: “Over the last several years, we had many conversations with firms and investors exploring different paths forward for Anchin.
“Baker Tilly stood out because of its commitment to the middle market, its investment in innovation and talent, and the respect it showed for the culture, leadership and reputation we have built over the last 103 years.
“We believe this combination allows us to build on what has made Anchin successful while creating new opportunities for our clients and team members.”
Meanwhile, Baker Tilly has decided to designate New York City as its headquarters.
Baker Tilly CEO Eric Miles said: “New York is one of the most important markets for our clients and for the future of our firm.
“Anchin strengthens our presence in a market that is central to many of the industries, entrepreneurs and businesses we serve.
“Establishing New York as our headquarters reflects our long-term commitment to this market and our continued investment in the talent, expertise and capabilities our clients need to succeed.”
The deal is expected to close “this summer”.
Once completed, Shinsky will become Baker Tilly’s New York managing principal, and will lead the company’s expansion in the city.
Last month, Baker Tilly teamed up with HubSync to streamline tax services for its middle market clients.
