Marcum LLP, a Top 20 Firm based in New York, has acquired Federman, Lally & Remis LLC, a firm in Farmington, Connecticut, effective Jan. 1.
The merger bolsters Marcum's New England client base in the automotive and food and beverage sectors and adds experience to Marcum's tax and assurance divisions, while adding five partners and 12 associates to the firm. Marcum has more than 550 partners and over 4,100 associates.
Financial terms of the deal were not disclosed. Marcum ranked No. 13 on Accounting Today's 2023 list of the Top 100 Firms, with $1.2 billion in annual revenue.
FLR dates back to 1991 and provides tax and accounting services to various industries, including automotive, real estate, retail, manufacturing, food and beverage, and the nonprofit sector.
"The alignment between Marcum and FLR is clear," said Marcum chairman and CEO Jeffrey Weiner in a statement Tuesday. "FLR's unwavering commitment to addressing intricate business challenges with tailored solutions mirrors our process at Marcum. Their well-regarded reputation and adept problem-solving capabilities make them an excellent fit for us."
FLR's clients will gain access to assurance, tax and advisory services, along with specialized business and financial solutions in the areas such as R&D tax credits, international tax, transaction advisory, and cyber and information security services.
"It's not just about matching business services or industry proficiency," stated FLR founding partner Bob Lally, who will be joining Marcum as the office managing partner for the Farmington office. "It's the shared culture and values that truly excite us. Both Marcum and FLR champion a workplace that prizes collaboration, innovation, and professional advancement. This partnership has opened up new horizons for our team, allowing us to achieve even greater success."
Last June, Marcum added
