Mauldin & Jenkins adds KRT CPAs; and Sax LLP acquires David Weiss CPA.
M&A roundup: M&J, Sax expand
August 22, 2022 2:44 PM
Mauldin & Jenkins adds KRT CPAs
KRT dates back to 1925. As part of the deal, KRT partners Frank Slotin, Andrew Brodmann and Daniel Mahfet will join M&J.
"We are delighted to have the opportunity to become a part of Mauldin & Jenkins because of our long-established and very positive relationship with the firm," said KRT managing partner Frank Slotin in a statement Monday. "We have known Mauldin & Jenkins since the merger of our governmental practice division in 2018 and have experienced firsthand their dedication to client service and investment in their people."
KRT will remain in its current location. Financial terms of the deal were not disclosed. Mauldin & Jenkins ranked No. 77 on Accounting Today's 2022 list of the Top 100 Firms, with $64.3 million in annual revenue. The firm, which was founded in 1918, has over 50 partners. After the merger, the combined firm will have approximately 450 employees.
"Expanding our services in the greater Low Country is an incredible opportunity, and to be able to do so with the first-rate professionals of KRT allows clients of both firms to benefit from greater convenience and combined service capabilities," said M&J managing partner Hanson Borders in a statement.
In June, Mauldin & Jenkins acquired
Sax acquires David Weiss CPA
Weiss has been providing tax and accounting services, including auditing, financial statement preparation and financial planning, for more than 35 years. "This partnership with Sax is an excellent match as we both strive for the same goals and operate with the utmost professionalism, skill, and drive," Sax said in a statement earlier this month. "Together, with our combined expertise and resources, we will continue our collective growth and deliver meaningful results and solutions to those we serve."
Financial terms of the deal were not disclosed. Robert Fligel of RF Resources LLC advised on the acquisition. Sax ranked No. 87 on Accounting Today's 2022 list of the Top 100 Firms, with $55.5 million in annual revenue. With the latest deal, Sax will become a 47-partner firm with a total of 237 employees. The firm has three offices between New York and New Jersey and a remote team spanning 14 states. Sax also plans to open its first international office in Mumbai, India, by the end of the year.
"Our intention is to expand our size and reach, but also to reinforce our team culture and service philosophies that got us to where we are today," said Sax CEO and managing partner Joseph Damiano in a statement. "We found a tremendous match with David Weiss CPA. Not only are they aligned with Sax where it matters most, but their highly capable professionals and high-caliber expertise takes us another step further in the New York market, and as a firm overall."
In 2019, Sax expanded in New York by merging in
