SobelCo, an accounting and advisory firm with offices in Livingston and Woodcliff Lake, on Feb. 1 merged with Minneapolis-based CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the U.S.
The more than 200 members of SobelCo’s team will continue to serve clients from their New Jersey offices, CLA said in the announcement. The move brings CLA’s workforce to more than 580 employees in the New Jersey, New York and Pennsylvania areas.
No other terms of the deal were disclosed.
“We chose CLA because of our shared client promise and core values,” SobelCo Managing Member Alan Sobel said in a statement. “In joining CLA, we’re gaining the capacity to expand our team and strengthen our commitment to understand the challenges our clients face and deliver targeted business strategies to address those challenges on both a personal and professional level.”
Founded in 1956, SobelCo provides accounting, tax and advisory services to businesses. In 2022, the firm was named one of NJBIZ’s Best Places to Work in New Jersey.
“SobelCo is recognized as a leader in the community offering a broad range of valuable services,” said Scott Engelbrecht, chief geographic officer for CLA. “The team’s deep industry knowledge and multi-disciplinary approach helps them keep clients ahead of the curve. I’m excited to welcome the SobelCo team members to the CLA family as we continue to expand our reach into New Jersey, New York, and surrounding areas.”
Allan Koltin, CEO of Koltin Consulting Group, which advised both firms on the move, described SobelCo as being among “New Jersey’s ‘Best of the Best’ CPA firms.”
Koltin added, “[T]he SobelCo team was much sought after by many of the regional and national firms in the Northeast. They chose CLA based on cultural and strategic fit.”
CLA employs more than 8,500 people and has nearly 130 locations across the U.S. Its offerings include wealth advisory, outsourcing, audit, tax and consulting services."