Baker Tilly expands Northeast with CironeFriedberg acquisition

CONNECTICUT, UNITED STATES — Baker Tilly, an advisory and tax firm with a global presence across 143 territories, is set to acquire Connecticut-based CironeFriedberg, marking an expansion of its Northeast operations. 

While terms of the deal were not announced, the merger creates vital connections between New York and Boston, enhancing Baker Tilly’s ability to serve clients across this crucial economic corridor.

Fred Massanova, Baker Tilly’s chief growth officer, emphasized the strategic importance: “Expanding in the Northeast is a critical step in our long-term growth strategy. CironeFriedberg brings a wealth of experience and industry expertise, further solidifying our commitment to this market”.

Combined expertise and resources

The merger brings together Baker Tilly’s extensive global network, which generates $5.62 billion in combined worldwide revenue and employs 43,500 professionals, with CironeFriedberg’s strong regional presence in Connecticut and New York. 

CironeFriedberg, operating from offices in Bethel, Shelton, and Darien, has built a reputation for serving middle-market businesses and high-net-worth individuals with specialized services including tax planning, business valuation, and outsourced CFO solutions.

“Joining Baker Tilly is an exciting opportunity for our firm and clients. The expanded reach and additional resources will allow us to provide even greater value and innovative solutions while maintaining the personal service our clients have come to expect,” said Tony Cirone, managing partner of CironeFriedberg.

Market positioning

The acquisition follows Baker Tilly’s recent move to acquire Hancock Askew, demonstrating the firm’s aggressive growth strategy backed by private equity investment from Hellman & Friedman and Valeas Capital Partners. 

Industry expert Allan Koltin, CEO of Koltin Consulting, who advised on the transaction, noted that CironeFriedberg’s strong client relationships and industry expertise would enhance Baker Tilly’s service capabilities across the Northeast.

The combined entity will leverage Baker Tilly’s presence in major financial centers, including New York, London, San Francisco, Los Angeles, Chicago, and Boston while maintaining CironeFriedberg’s specialized focus on industries such as manufacturing, real estate, construction, and medical practices.