Carbis Walker has announced it is merging with a West Virginia firm.
The merger with Arnett Foster Toothman is expected to create one of the top 100 largest accounting firms in the United States.
“This is a welcome merger of two highly diverse and well-managed firms who share similar corporate cultures and philosophies,” said Steve Robey, chief executive officer of the new firm. “It is a bold and an exciting move, not only for our firms but for our region.
“Our combined expertise makes Arnett Carbis Toothman ideally positioned to provide clients even higher levels of service and counsel, and in broader areas.”
Pennsylvania offices of Arnett Carbis Toothman will include locations in New Castle, Pittsburgh and Meadville, complementing West Virginia offices in Charleston, Bridgeport, Buckhannon, Morgantown and Lewisburg, as well as in Columbus, Ohio.
Arnett Foster Toothman traces its roots to 1950 and employs 160 people. Carbis Walker was formed in 1946 and employs 105 people.
James Hunt, formerly Carbis Walker managing partner who will now be chairman of the firm’s executive committee, said, “Our combined expertise and experience in sectors such as health care, construction, financial institutions, oil and gas/natural resources and manufacturing, among others, will certainly be an asset to clients.”
Robey and Hunt commented the management teams of both firms will remain intact and will continue their management and leadership roles with the new firm. Hunt also added cutbacks or layoffs are not anticipated. “If anything, our new company will create expanded opportunities for existing — and new — staff.”
Robey said the subsidiary and affiliated companies of both firms will, for now, continue with “business as usual.” Total Practice Management and Walker Benefits Inc. will become subsidiaries of Arnett Carbis Toothman.
The operations of AF Financial Holdings and its subsidiaries that include AF Financial Advisors and AF Insurance Advisors will operate as affiliated companies of Arnett Carbis Toothman.