Richter accounting merges with smaller Toronto company
Philosophies align on serving clients
Accounting firm Richter, seventh-largest in Quebec with 400 employees, is expanding into the Toronto market by merging with SBLR LLP, a boutique firm with about 40 employees.
“We won’t be run as two offices, but as one practice existing in two cities,” said Tasso Lagios, national managing partner of Richter.
He said the firms are a good fit because they have a similar entrepreneurial cultures that provide businesses with practical and timely advice.
“We operate with a unique mindset and we found that we are completely aligned with Richter in every aspect of our culture and business,” said Mitch Silverstein, a founding partner of SBLR and a Richter partner when the merger takes effect Jan. 1.
“With our shared approach in servicing clients with excellence, we will further enhance our clients’ experience by providing more depth and breadth to our services.”
Lagios said the expansion “is very promising to our clients and to the entrepreneurial businesses who deserve more engaged, more embedded and more practical advisory services.
“We’re looking to take the best practices of both firms.”
There was a Richter office in Toronto before, but it was run as a completely independent operation by different partners, Lagios said. It dissolved last year with the 130 employees merging into two other firms.
SBLR has been in business for eight years.
Richter’s expansion into Toronto coincides with the 86-year-old firm’s recent rebranding. It used to be known as RSM Richter and remains a member of RSM International, a global network of independent accounting and advisory firms in over 90 countries.