PBMares expands in Baltimore

Published March 22, 2016 by Robert Powell, III

PBMares LLP, a Newport News-based public accounting and consulting firm, has acquired a Baltimore-based specialty tax practice, Neuman & Associates LLC.

Financial details of the deal, which closed Feb. 1, were not disclosed. The combined firm will operate under the PBMares name.

“Our two firms have enjoyed a longstanding professional relationship for a number of years,” PBMares CEO Alan Witt said in a statement. “Neuman & Associates has an outstanding reputation and their core company values of providing high quality professional services in a responsive manner mirror our values at PBMares.”

PBMares said the acquisition adds expertise in serving estate and trust and high net worth clients while expanding the firm’s presence in the Baltimore area and the mid-Atlantic region.

Ricka Neuman and Caroline Brocato of Neuman & Associates are now principals of PBMares.

The firm now has nine offices in the region and ranks among the top 200 accounting firms nationally in terms of revenue

In Virginia, the firm ranks 10th among accounting firms in terms of CPAs employed in the commonwealth.