Marcum LLP started the month off with big news, announcing McCarthy & Co. PC combined with the national accounting and advisory firm.
Effective June 1 and announced June 5, the addition of the Blue Bell, Pa.-based firm expands Marcum’s Mid-Atlantic construction practice. The move adds approximately 70 McCarthy & Co. partners and associates, whose office locations in Blue Bell and Tinton Falls, N.J., will operate moving forward as regional outlets for Marcum.
Financial terms were not disclosed.
In New Jersey, the acquiror’s footprint now encompasses six total locations including the new Monmouth County outpost: East Hanover, Marlton, Neptune, Northfield and Saddle Brook.
A full-service tax and accounting firm serving the construction, real estate, health care, transportation and logistics sectors, McCarthy & Co. was established in 1967. According to Marcum, and in addition to other recognitions, it was named the Best Accounting Firm to Work For by Accounting Today each year sine 2019.
“McCarthy’s commitment to helping clients navigate complex business challenges aligns seamlessly with our vision at Marcum,” Marcum Chairman and CEO Jeffrey Weiner said in a prepared statement. “They have cultivated an outstanding reputation within the construction industry and have unique insight into how to solve the most pressing difficulties clients encounter.”
Former McCarthy & Co. Managing Partner Marty McCarthy said beyond service and industry focus, the now combined firms also share a “deep-seated alignment in our firm cultures.”
“Marcum and McCarthy are committed to fostering a work environment that emphasizes collaboration, innovation, and professional growth. Joining Marcum allows our team more opportunities to develop within a larger organization,” McCarthy – who joins Marcum as Mid-Atlantic Construction practice leader and managing partner for the Tinton Falls and Blue Bell locations – said in a statement.
According to the announcement, clients of McCarthy & Co. will now benefit from expanded assurance, tax, and advisory services, along with comprehensive business and financial solutions spanning specialties including: R&D tax credits, international tax, transaction advisory, cyber and information security services, and others.
Koltin Consulting Group CEO Allan Koltin advised both firms on the combination. According to Koltin, the merger diversifies capabilities while amplifying available expertise.
“McCarthy’s exceptional reputation and specialization in key sectors complement Marcum’s vast network and capabilities,” Koltin said. “I’m incredibly excited for what the future holds for the firm and its clients.”