M&A roundup: EisnerAmper and GTM expand

EisnerAmper, a Top 25 Firm based in New York, is combining with Prague & Co. PC, based in the Boston metropolitan area, with the deal expected to close later this spring.

Prague & Co. was founded in 1988 and has a team of 15 professionals. Its services include accounting, tax and fund administration services to individuals, partnerships and corporations worldwide. 

The firm focuses on high-net-worth individuals and alternative investment vehicles engaged in the real estate, timber, private equity and venture capital sectors. (The law firm of Prague & Peters PLLC is not part of the combination and will remain an independent law firm.)

"With 37 years of dedicated service to our clients, I'm proud of how our tax and accounting practice has grown while still adhering to the highest levels of quality and personal attentiveness. In evaluating the next steps and how to offer even more, combining with EisnerAmper provides the perfect solution. We're excited about what this means for our clients and our team," said founder Andrew Prague in a statement Tuesday.

Financial terms of the deal were not disclosed. EisnerAmper's Eisner Advisory Group ranked No. 15 on Accounting Today's list of the Top 100 Firms of 2025, with annual revenue of $1.02 billion. EisnerAmper has 4,500 on its staff, including 450 partners, while Prague's staff totals 15.

"With each client, Prague & Company works to understand the intricacies and nuances of each situation and then provides tailored guidance," said Jay Weinstein, EisnerAmper's vice chair of industries and markets, in a statement. "As we look to the future, the team at Prague & Company will enhance our Boston presence while deepening our expertise in trusts, estates, foundations, nonprofit organizations, and closely held businesses. We warmly welcome them to the EisnerAmper family."

EisnerAmper has been busy on the M&A front since it received private equity funding in 2021 from TowerBrook Capital Partners, setting the stage for other accounting firms to follow its lead. The firm split into an alternative practice structure with Eisner Advisory Group LLC providing nonattest services and EisnerAmper LLP offering attest services to clients. Last year, EisnerAmper added Tighe, Kress & Orr PC in Elgin, Illinois, Krost CPAs in the Los Angeles area, Edelstein & Co. in Boston, the Tidwell Group in Birmingham, Alabama. In 2023, it merged in Spielman Koenigsberg & Parker in New York, Morrison & Morrison in Chicago, and Postlethwaite & Netterville in Baton Rouge, Louisiana. In 2022, it added Lindsay & Brownell in La Jolla, California, Hoffman Group in Baltimore, Lurie in Minnesota and Florida, and Raich Ende Malter  and Popper & Co. in New York.

Global Tax Management, a corporate tax services firm based in Philadelphia, is acquiring the state income tax practice of DuCharme, McMillen & Associates, Inc., based in Rye, New York.

GTM and DMA have also entered into a strategic alliance, formalizing a longstanding relationship. The acquisition complements GTM's existing income tax practice and furthers DMA's ability to serve clients' income tax needs.

DMA's state income and franchise tax practice serves large, multinational corporations, particularly in state income tax compliance, revenue agent reports and advisory work. As part of GTM, the team will help streamline tax processes, ensure compliance with state regulations, and provide strategic advice on multistate compliance, amended returns, and tax strategy optimization, while offering expert support during audits.

"DMA is excited to form this strategic alliance with GTM," said DMA president and CEO Dan Hutmacher in a statement Tuesday. "Our clients will now have access to a full suite of direct tax services, including state and federal income tax solutions through GTM. This alliance strengthens DMA's ability to provide comprehensive support and better serve the needs of our clients, and it will allow us to continue to work with a group of exceptionally talented and experienced professionals who have served our company and our clients as DMA employee-owners so well over the years." 

Financial terms of the deal were not disclosed. GTM ranked No. 47 on Accounting Today's 2025 list of the Top Tax Firms and reported revenue of over $60 million for 2024. As an ESOP, GTM does not have partners, but is bringing on four new leaders as a result of the acquisition, including one director and three principals, and 19 people overall.

"We are very excited to welcome the DMA state income tax practice to our firm," said GTM CEO Dave Sekula in a statement. "We know the team will thrive in our environment, with highly regarded, supportive service lines such as federal and international income tax practices."