Bonadio Group and Testone, Marshall & Discenza agree to merge

SYRACUSE, N.Y. — Rochester–based Bonadio Group and Testone, Marshall & Discenza (TMD) of Syracuse announced today that they will merge, effective Jan. 1, to form Central New York’s largest accounting firm.

In CNY, the combined firm, which will operate under the Bonadio name, will have more than 130 employees and 15 partners in its Syracuse, Utica, and Geneva offices, according to a Bonadio news release.

Bonadio’s Donald Taylor will serve as office managing partner. Later in 2015, Bonadio employees in Syracuse will move to TMD’s offices at The Foundry on North Franklin Street, the release stated.

The combined firm will employ more than 600 people total, including offices in Albany, Batavia, Buffalo, East Aurora, New York City, and Rutland, Vt.

“The national trend of CPA firm mergers is reaching Central New York, and we’re excited to lead the way with The Bonadio Group,” Frank Discenza, managing partner of Testone, Marshall & Discenza (TMD), said in the news release. “This merger comes at an opportune time, because both of our firms are prepared to offer more to clients in Central New York, and together we have the professionals and the services to help them solve problems and grow.”

Thomas Bonadio, CEO and managing partner of the Bonadio Group, said the merger will allow his firm, already upstate New York’s largest independent CPA firm, to offer clients more services and employees more opportunities.

“Together with TMD, we will offer more ideas and opportunities to clients, and more advancement for our people. Our firms are an excellent cultural fit, and we are aligned in our business and client-service philosophies. That’s a recipe for combined success.”

Founded in 1978, the Bonadio Group says it is a nationally ranked Top 50 CPA firm offering accounting, business advisory, and personal financial services to clients of all sizes.

TMD was founded in 1976 and has grown to service more than 2,000 clients throughout Central New York, the Southern Tier, North Country, and Mohawk Valley.

For much more on this merger, check out the article in the Dec. 5 issue of The Central New York Business Journal.

Contact Rombel at arombel@cnybj.com