Walter Shuffain buys Worcester firm, pushing revenue to $58M
What's the deal? Boston-based accounting firm Walter ShuffainDealroom has a profile for this one. Try Dealroom → has acquired Stolberg & Blanchette, a firm in Worcester, Massachusetts, effective October 7. Terms were not disclosed. The deal adds a third Massachusetts office and lifts Walter Shuffain's revenue to $58 million with 125 employees.
Why now? Walter Shuffain was acquired by Ascend's platform in 2024 and has grown quickly since. It reported $30 million in revenue in 2023 and $44.2 million on Accounting Today's 2026 Top 100 Firms list, where it now ranks as a New England Regional Leader.
What's the endgame? The acquisition expands Walter Shuffain's New England footprint and adds business valuation expertise. It also strengthens specialties including manufacturing, distribution, construction, retail, insurance, real estate, and professional services.
The leadership move: As part of the deal, Stolberg & Blanchette managing partner Keith Blanchette joins Walter Shuffain's executive leadership. "Worcester becomes an important anchor for our continued growth in Central Massachusetts," said Jonathan Yorks, chief executive officer and managing partner of Walter Shuffain.
The backdrop: Ascend, backed by private equity firm Alpine InvestorsDealroom has a profile for this one. Try Dealroom →, works with regional accounting firms generating between $15 million and $50 million in revenue. It ranked No. 24 on the Top 100 Firms list with $590.5 million in revenue, over 2,600 employees, and more than 60 offices.
What's at stake? Middle-market firms now compete against rapidly expanding, private equity-backed regional platforms. Since its 2023 launch, Ascend has made dozens of investments, most recently adding Kreischer MillerDealroom has a profile for this one. Try Dealroom → in Pennsylvania, and earlier Jackson ThorntonDealroom has a profile for this one. Try Dealroom → in Alabama and William Vaughan Company in Ohio.
The signal: "S&B accesses resources that no firm of their size can build on their own," said Ascend President Nishaad Ruparel. The deal reflects how platform players are using M&A to pull talent and clients toward scale, reshaping the market for independent regional firms.
Read more: accountingtoday.com
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