Two Regional Accounting Firms Accounce Merger

Press Release

For Immediate Release

Effective November 15, 2004–Gorfine, Schiller & Gardyn, P.A., of Owings Mills & Graber & Ross Chartered of Hagerstown-certified public accounting firms have merged, combining forces to provide a comprehensive menu of accounting, financial, and consulting services for businesses and individuals throughout Maryland. The combined “49 employee plus” firm will operate under the name of Gorfine, Schiller & Gardyn, P.A. and maintain separate offices conveniently located in both Baltimore and Hagerstown, Maryland.

The combination of two local firms is a departure from an emerging trend in the accounting industry. Recently, the industry has seen the merger of colossal, international firms or, a more prevalent scenario, the purchase of smaller independent firms by corporate giants. “Remaining a locally owned and managed firm will help us to be more agile in responding to the changing needs of our clients,” said Simpson H. Gardyn, Managing Director of GSG. “We’ll continue to do whatever it takes to service our clients’ diverse needs and now we’ll have even more resources to do it with,” he added.

Graber & Ross provides some new certified financial planning capabilities for Gorfine, Schiller & Gardyn, P.A. and the deal—the firms’ first since Harry B. Gorfine & Co. merged with Schiller, Holinsky & Gardyn, P.A. in 2000—should enhance GSG’s future growth and foothold in Hagerstown, recently ranked by Money Magazine as one of the nation’s up and coming cities.

Drawn by favorable rents, spacious brick buildings and nostalgic charm-investors, business and young professionals are bringing new money and energy to revive downtown Hagerstown. One such impetus for growth is the 12 million dollar campus that the University System of Maryland has recently opened in downtown Hagerstown. Settled in late 1700s, Hagerstown became a “boomtown” during the railroad era of the late 1800’s due to its strategic location near Pennsylvania and West Virginia. Hagerstown Mayor William M. Breichner says it proved to be a turning point for a downtown that was deserted for the better part of three decades once its railroad and manufacturing jobs disappeared. Since he took office in 2001, Breichner has acted with the City Council to make downtown renewal a priority.

Graber & Ross was founded in 1991 and welcomes the opportunity to merge with a larger firm and utilize the expanded expertise-said Graber & Ross Director Kenneth Graber. Marty Yospa, a partner with GSG, will take over the daily responsibilities of the Hagerstown office.

A full-service accounting and consulting firm, Owings Mills-based Gorfine, Schiller & Gardyn was founded on their commitment to technical quality and dedication to client service. After more than 70 years of substantial growth, they rank as one of the Top 25 firms in the Baltimore area and their services now encompass auditing, personal and corporate tax planning and preparation services, accounting, consulting and internal auditing.
For more information about Gorfine, Schiller & Gardyn, P.A., please call 410. 356. 5900 or visit www.GSGcpaonline.com.