05 FEB 2024 / M&A UPDATES

Marcum LLP Expands Government Practice in New England with Powers & Sullivan Merger

- MYCPE ONE Insights Team

Summary

It is generated by AI

Leading national accounting and advisory firm Marcum LLP has announced a merger with Massachusetts-based Powers & Sullivan, LLC, expanding Marcum's government industry portfolio. Effective as of February 2024, the merger will bring Powers & Sullivan's four partners and 26 associates to Marcum, strengthening the firm's ability to offer services such as assurance, accounting, consulting, cyber and information security, and executive search to governmental entities across New England.

Marcum LLP, a leading national accounting and advisory firm, has announced the merger with Powers & Sullivan, LLC, a Wakefield, Massachusetts-based firm specializing in auditing governmental entities. The merger, effective February 1, 2024, aims to strengthen Marcum's government industry practice in the New England region.

Firm Overview

Powers & Sullivan has built an impressive portfolio of services spanning accounting, auditing, and management consulting, with a specialized focus on auditing governmental entities across Massachusetts. The firm brings four partners and 26 associates to Marcum's team.

Strategic Significance

This merger enhances Marcum's ability to deliver industry-leading solutions to governments and municipalities throughout New England. Powers & Sullivan's clients will now benefit from Marcum's expanded suite of services, including assurance, accounting, financial reporting, management consulting, cyber and information security, and executive search.

Leadership Perspectives

Jeffrey Weiner, Chairman & CEO of Marcum, stated, "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 – and we’re pleased that, as Marcum, we can now do even more for governments and municipalities throughout New England."

James Powers, partner-in-charge of Powers & Sullivan leading up to the merger, commented, "The similarities between our firms extend beyond shared services and industry practices; they are rooted in our collective dedication to making a workplace that supports teamwork, innovation, and professional development at every level. This merger with Marcum presents our team with unprecedented opportunities for growth within a larger, equally forward-thinking organization."

Anthony Scillia, Marcum’s New England Regional Managing Partner, emphasized the strategic importance of the merger, stating, "The integration of Powers & Sullivan’s capabilities and market presence into Marcum’s suite of services will bring transformative benefits for clients. The infusion of their talented team and extensive experience ensures that, as Marcum grows, clients will continue to receive comprehensive and insightful solutions tailored to their unique needs, now and into the future."

Until next time…

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Marcum LLP Expands Government Practice in New England with Powers & Sullivan Merger

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