Marcum LLP, a Top 25 Firm based in New York, has merged in Powers & Sullivan, LLC, a firm headquartered in Wakefield, Massachusetts, effective Feb. 1, expanding Marcum's government client base in the New England area.
Powers & Sullivan specializes in auditing governmental entities across Massachusetts. As part of the deal, four partners and 26 associates from Powers & Sullivan are joining Marcum, which has approximately 550 partners and 511 associates.
Financial terms of the deal were not disclosed. Marcum earned $1.325 billion in annual revenue and ranked No. 13 on Accounting Today's 2023 list of the Top 100 Firms.
"Like Marcum, Powers & Sullivan is a firm committed to client success and has extensive experience leveraging its deep knowledge to help clients solve big problems," said Jeffrey Weiner, chairman and CEO of Marcum, in a statement Monday. "We're pleased that, as Marcum, we can now do even more for governments and municipalities throughout New England."
Powers & Sullivan clients will now get access to expanded assurance, accounting, financial reporting, management consulting, cyber, information security and executive search services as a result of the merger.
"The similarities between our firms extend beyond shared services and industry practices," said James Powers, former partner-in-charge of Powers & Sullivan, in a statement. "They are rooted in our collective dedication to making a workplace that supports teamwork, innovation and professional development at every level."
In January, Marcum acquired
