Walter Shuffain acquires Stolberg & Blanchette
- Key Insight: Learn how Walter Shuffain is expanding its New England footprint through its latest acquisition.
- What’s at Stake: Middle-market firms competing against rapidly expanding, private equity-backed regional platforms.
- Expert Quote: “S&B accesses resources that no firm of their size can build” — Nishaad Ruparel, Ascend
Regional Leader Walter Shuffain acquired Stolberg & Blanchette in Worcester, Massachusetts, effective as of Oct. 7.
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The deal expands Walter Shuffain’s New England footprint, adds business valuation expertise and strengthens the firm’s existing industry specialties, including manufacturing, distribution, construction, retail, insurance, real estate and professional services. Walter Shuffain is based in Boston and was
Stolberg & Blanchette adds the third Massachusetts office to the firm, and brings the firm’s revenue to $58 million and its team to 125 employees. As part of the deal, Stolberg & Blanchette managing partner Keith Blanchette will join Walter Shuffain’s executive leadership.
“This combination brings together complementary strengths that make both firms stronger,” Jonathan Yorks, CEO and managing partner of Walter Shuffain, said in a statement. “Stolberg & Blanchette adds deep relationships, strong talent, and valuable advisory expertise, while Worcester becomes an important anchor for our continued growth in Central Massachusetts.”
In 2023, Walter Shuffain reported $30 million in revenue in 2023. It is now a New England Regional Leader on Accounting Today‘s 2026
Ascend is backed by private equity firm Alpine Investors and works with regional accounting firms with between $15 and $50 million in revenue. It ranked No. 24 on the
“Ascend partner firms wield an M&A capability that allows them to attract the talent and clients they are building their firms around, at scale and with pace,” Ascend President Nishaad Ruparel said in a statement. “Walter Shuffain’s addition of Stolberg & Blanchette exemplifies this. Walter Shuffain adds two values-aligned, entrepreneurial leaders in Joe Stolberg and Keith Blanchette; a depth of talent and technical expertise alongside them; and hundreds of middle market clients with complex needs and opportunities for expanded service. Meanwhile, S&B accesses resources that no firm of their size can build on their own, while continuing to write their story within a regional firm and a culture that resonates.”
Since Ascend’s 2023 launch, it has made dozens of investments. Most recently, it added
Other additions in the past year include
“Walter Shuffain is a strong cultural fit for our team and for our clients,” Joseph Stolberg, founding partner of Stolberg & Blanchette, said in a statement. “We share the same commitment to client service, and this partnership creates meaningful opportunities for our clients and our people. The Ascend platform is a differentiator in this market. Its people-first approach, investment in technology and platform resources, focus on the middle market, and the independence its model gives each firm all align with what we value.”
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