Over more than 65 years, Livingston-based accounting and advisory firm SobelCo carved out a prominent place in New Jersey’s financial firmament. But even successful firms often find that staying ahead of competitors and providing top-notch service can be difficult and expensive. So it was with SobelCo.
In February, the company agreed to be acquired by CLA, a national accounting firm – the eighth largest in the U.S. – with its headquarters in Minneapolis. The more than 200 SobelCo staff members continue to serve clients from their New Jersey offices (the firm also maintains a location in Woodcliff Lake). The deal brings the buyer’s workforce to more than 580 employees in the New Jersey, New York and Pennsylvania region.
In this edition of NJBIZ Conversations, SobelCo’s former managing member, Alan Sobel, talks about how the deal happened and what it means for his colleagues and their clients. Sobel, who is now managing principal of CLA’s New Jersey operations, also discusses the state of the accounting profession and what the future could hold.
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