Marcum LLP, a High 20 Agency based mostly in New York, added Piccerelli, Gilstein & Firm LLP, a CPA agency based mostly in Windfall, Rhode Island, in its newest growth transfer.
As a part of the deal, 5 companions and 25 associates are becoming a member of Marcum from PG&Co. The deal additionally provides a second Windfall workplace to Marcum’s New England footprint.
Monetary phrases of the deal weren’t disclosed. Marcum ranked No. 15 on Accounting At the moment’s 2022 checklist of the High 100 Companies, with $799.08 million in annual income as of Dec. 31, 2021. The agency’s present headcount is roughly 2,700, together with 350 companions.
PG&Co.’s income wasn’t obtainable. PG&Co dates again to 1973 and makes a speciality of purchasers in the actual property, well being care, and nonprofit sectors.
“Marcum welcomes all the PG&Co workforce to the agency and appears ahead to our collaboration,” stated Marcum’s chairman and CEO Jeffrey M. Weiner in an announcement Tuesday. “PG&Co has a protracted historical past of service, independence, integrity and dedication to our purchasers. Marcum’s consumer service requirements and core values correlate strongly to our tradition. We’ve got the very best expectations for this merger and the quite a few methods it would profit our purchasers, a few of whom have been with our agency for many years.”
Marcum LLP Chairman and CEO Jeff Weiner
Courtesy of Marcum LLP
PG&Co managing accomplice Michael M. Tikoian will grow to be Marcum’s workplace managing accomplice on the new location in Windfall.
Koltin Consulting Group CEO Allan D. Koltin suggested each corporations on the M&A deal. “Marcum continues to excel in attracting and mixing with high-performing, entrepreneurial corporations like Piccerelli, Gilstein,” he stated in a press launch. “This mix makes Marcum a significant Rhode Island pressure going ahead.”
Marcum has been lively on the merger entrance this previous 12 months. Final month, it expanded to Newport Seaside, California, by including LTSP, previously often known as Lesley Thomas Schwarz & Postma, Marcum’s fifth workplace in California. Its largest deal got here in Might, when it introduced a megamerger with one other high agency, Friedman LLP, making a mixed agency that’s anticipated to surpass $1 billion in income. Different current offers included a merger in February with RotenbergMeril CPAs, a agency in Saddle Brook, New Jersey. Final December, it expanded into Missouri by merging in BWTP in St. Louis. The most recent deal will broaden the agency’s presence in New England.
“Windfall is a rising heart of power in our New England area,” stated Anthony P. Scillia, Marcum’s New England regional managing accomplice, in an announcement. “As a part of Marcum, PG&Co’s leaders will assist form the way forward for our agency all through the world.”