Houston-based IPA 100 firm Weaver (FY22 net revenue of $197.6 million) is merging in New York-based IPA 200 firm Buchbinder Tunick & Company (FY22 net revenue of $22.4. million) effective Jan. 1, 2024.
The deal expands Weaver’s East Coast presence to five offices, including three in the state of New York, one in New Jersey and one in the Washington D.C. area. It also adds 125 audit, tax and advisory professionals, including 16 partners, to the firm.
Over the past several years, Weaver’s New York team has had great success driving the firm’s growth in several sectors, including alternative investments, real estate, private equity and energy. This transaction strengthens Weaver’s service and industry depth in the Northeast.
Since 1945, Buchbinder has delivered audit, tax and consulting services to clients across many industries, including manufacturing and distribution, real estate and professional services. The firm also has a robust audit practice dedicated to labor unions and employee benefit plans.
John Mackel, Weaver CEO and MP, said, “We look forward to building on Buchbinder’s strong brand equity to drive growth in our combined audit, tax and advisory practices, both in the Northeast and nationally.”
Peter Ricci, management committee member at Buchbinder, says, “The partners at Buchbinder are delighted to have found a firm that genuinely cares about their people, and this is reflected in every aspect of their culture. We look forward to the opportunities this deal provides for our team members to grow and develop their careers as part of Weaver,” said “We also believe the depth of services Weaver offers, especially from an advisory perspective, will bring added value to our existing clients.”
Weaver will combine its employee benefit plan practice with Buchbinder’s labor union and benefit plan practice. The goal is to expand the practice nationally and continue to grow a team dedicated to audit and advisory services to labor unions and employee benefit plans. The combined firm will serve more than 650 labor unions and employee benefit plans with $165 billion in total plan assets.
The Buchbinder team will remain in their existing offices in New York, Jericho, N.Y., Little Falls, N.J., and Bethesda, Md.