What's Happening?
BGM, a Minnesota-based firm, has acquired R. L. DePanfilis & Company, a certified public accounting and business consulting practice located in Connecticut, US. R. L. DePanfilis & Company, established in 1979, specializes in taxation, accounting, auditing,
and management consulting services for corporate clients, private individuals, estates, and trusts. Their expertise includes tax research, planning, compliance, multi-state and international tax filings, as well as assurance and consulting capabilities such as agreed-upon procedures, audits, business succession planning, compilations, due diligence, estate and trust tax filings, financial reporting, and financial reviews. Following the acquisition, R. L. DePanfilis & Company will operate under the BGM brand. Partners David W. Gibbs and Kenneth T. Miller, along with their existing staff, will continue to manage client accounts from their Norwalk office. The financial terms of the acquisition were not disclosed.
Why It's Important?
This acquisition significantly expands BGM's presence and service capacity in the New England region and across the U.S. For BGM, it means gaining over four decades of local market knowledge, technical skills, and established client relationships from R. L. DePanfilis & Company. This strategic move allows BGM to offer a broader range of accounting, audit, tax, business advisory, wealth management, and trust and estate resources to its wider client base. For clients of R. L. DePanfilis & Company, the transition ensures continuity of service with their familiar professionals while providing access to enhanced capabilities and resources from a larger firm. This consolidation in the accounting and consulting sector reflects a trend towards firms seeking to expand their geographical reach and specialized offerings to remain competitive and better serve diverse client needs.
What's Next?
R. L. DePanfilis & Company will integrate into the BGM brand, with its Norwalk office continuing operations under the new ownership. Partners David W. Gibbs and Kenneth T. Miller will remain in their roles, ensuring a smooth transition for existing clients. The combined entity is expected to leverage the expanded personnel and technical expertise to enhance service delivery across New England and the broader U.S. market. This integration will likely involve aligning operational procedures and service offerings to maximize the synergies between the two firms. Clients can anticipate continued service from their current contacts, now backed by the additional resources and capabilities of BGM.
