M&A roundup: Grassi and Platform expand

Grassi, a Top 100 Firm based in New York, has added Anstiss & Co., an accounting, tax and consulting firm based in Chelmsford, Massachusetts.

Anstiss & Co. dates back to 1964 and provides services to family-owned businesses, nonprofits and high-net-worth individuals. 

“Our firms share a mutual commitment to client service excellence and our people,” said Grassi CEO and founder Louis Grassi in a statement Thursday. “As we continue to expand our footprint, we prioritize aligning with firms that share our vision for delivering tailored client experiences and growth-focused solutions. This represents another step forward in Grassi’s commitment to being wherever our clients need us most.”

Six partners and 50 professionals and staff will be joining Grassi from Anstiss. Raymond Anstiss Jr. will remain the managing partner of the Chelmsford office and assume the new position of Grassi’s Boston market leader.

“This is an exciting next chapter for our team,” Anstiss said in a statement. “Joining Grassi will enable us to deliver even greater value to our clients and provide our team members with opportunities for growth and development on a greater scale, all while preserving the strong relationships and personalized service that are the foundation of our firm.”

Financial terms of the deal were not disclosed. Grassi ranked No. 55 on Accounting Today‘s 2024 list of the Top 100 Firms, with $132.5 million in annual revenue, approximately 56 partners, and around 500 employees.

In 2021, Grassi acquired Gramkow, Carnevale, Seifert & Co. in Oradell, New Jersey, and S&Z Fund Services in New York. In 2020, it added Levine, Caufield, Martin & Goldberg in Needham, Massachusetts.

Earlier this month, Grassi announced that it had joined the PrimeGlobal network of accounting firms. In 2023, the firm set up an employee stock ownership plan and established an alternative practice structure, split the firm into two entities: Grassi Advisory Group, which performs advisory and tax services, and Grassi CPAs, which handles audit and attest work..