Restivo acquires Foxboro CPA firm to build presence in Mass.

Restivo Monacelli LLP has acquired Foxboro, Mass.-based certified public accounting firm Kennedy & Associates PC to establish a presence in Massachusetts, according to firm partner Steven E. Monacelli. More

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Restivo acquires Foxboro CPA firm to build presence in Mass.

Posted 1/17/14

(Updated, 1:09 p.m.)

PROVIDENCE – Restivo Monacelli LLP has acquired Foxboro, Mass.-based certified public accounting firm Kennedy & Associates PC to establish a presence in Massachusetts, according to firm partner Steven E. Monacelli.

Under the terms of the deal, which closed on Dec. 31, Kennedy & Associates will adopt the Restivo name and founding principal William T. Kennedy will become a partner in Restivo. In total, Restivo’s leadership team comprises eight partners, including Kennedy and the firm’s managing partner Edmund A. Restivo Jr.

The Kennedy & Associates office at 132 Central St. in Foxboro will become Restivo’s first branch office. The tax and accounting, business valuation, consulting and estate-planning firm is headquartered at 36 Exchange Terrace in Providence and employs 42 people, including the six new employees brought over from Kennedy & Associates.

Monacelli said Restivo employees will migrate between the two offices, and while there are no immediate plans to hire additional staff at the Foxboro office, Restivo hopes to grow its presence in Massachusetts by at least 50 percent over the next year or two.

The terms of the acquisition were not disclosed.

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