WARWICK – One of Rhode Island’s largest accounting firms is getting a little bigger next year, as DiSanto, Priest & Co. is merging with Markarian & Meehan Ltd.
DiSanto, Priest & Co., based in Warwick, will add 25 employees from Markarian & Meehan based in South Kingstown. The merger is slated for Jan. 1.
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“Markarian and Meehan has been a vital part of South County, Rhode Island for over 40 years and we are proud of our success and find record of client service,” said Steven Zaroogian, managing partner at Markarian & Meehan.
“This will be a seamless transition, and together the combined firms can best offer the resources and specialties of a lare firm coupled with the responsiveness of a local firm, giving us a distinct market advantage,” he added.
The non-cash deal will result in DiSanto, Priest & Co. maintaining its name and assuming the books of Markarian & Meehan. The three partners of Markarian & Meehan will join as partners.
Most of the South Kingstown employees will relocate to the Warwick offices. Although the accounting, auditing and tax and business advisory firm will maintain a small satellite office in Wakefield, a village of South Kingstown.
There are no layoffs planned as a result of the merger. Partners expect – if anything – the deal will help expand business.
“DiSanto, Priest and Co. looks forward to building on the excellent reputation that Markarian & Meehan has established in southern Rhode Island, and continuing the legacy of the firm’s founder, Tom Markarian,” said Emilio Colapietro, managing partner at DiSanto, Priest & Co.
Colapietro will maintain his title of managing partner.
DiSanto, Priest & Co. is the third largest accounting firm in Rhode Island, according to PBN research. The merger will bring the firm’s certified public accountants from 36 to 41 people.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
