New York-based IPA 100 firm Marcum LLP (FY21 net revenue of $799.1 million) is merging in IPA 300 firm E. Cohen & Company CPAs of Rockville, Md. (FY21 net revenue of $15.4 million).
“E. Cohen was a recognized leader with deep roots in the Maryland business community and brings substantial experience to Marcum,” says Marcum chairman and CEO Jeffrey Weiner. “They will not only bolster our existing presence in Rockville, but will also play a key role in our expansion throughout the Mid-Atlantic region.”
E. Cohen provides tax and accounting services to individuals and middle-market businesses, with a particular focus on the construction, government contracting, hospitality, non-profit, professional services, real estate and wholesale distribution industries. The deal adds more than 90 partners and associates to Marcum, bringing the firm’s team to approximately 4,000 nationwide.
“We built our business over many years with a bedrock commitment to integrity and honesty, accountability, respect and teamwork, continuous process improvement and, above all, client relationships,” says E. Cohen MP Eric Cohen. “As a top national firm that has helped shaped our industry, joining Marcum is a clear opportunity to ensure the long-term well-being of our clients as well as our team, while continuing to play an active role in our business community.”
“[Marcum] continues to be the envy of the profession while attracting best-in-class local and regional CPA and advisory firms to combine with,” adds Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination.
In conjunction with this deal, Marcum Technology LLC is also merging in E. Cohen’s information technology subsidiary, BinaryNetworks, a managed services provider offering IT consulting, infrastructure and cloud services.