Glen Mills-based Torrillo & Associates has been acquired by Nashville’s LBMC, one of the largest accounting firms in the nation, for an undisclosed amount, write Ella Castronuovo and Jeff Blumenthal for the Philadelphia Business Journal.
With this transaction, LBMC’s team will gain two managing directors and about 20 employees. David Torrillo, managing member of Torrillo & Associates, will stay on as Pennsylvania market leader.
“By bringing [these] two practices together significantly enhanced our national profile of services provided in this space,” said Jim Meade, CEO and managing shareholder of LBMC.
Torrillo said the move allows the Delaware County firm to expand its offerings while maintaining its focus on client service.
“We are becoming part of a firm that is investing in national scale and specialized expertise, while preserving the culture and client focus that have always defined our practice,” he said.
Founded in 1984, LBMC reports nearly $235 million in annual revenue, employs more than 1,000 people, and serves 11,000 clients across a wide range of fields through six offices in four states. It is currently the 35th largest accounting firm in the United States.
Read more about Torrillo & Associates in the Philadelphia Business Journal.
