Marcum LLP has entered a merger with Wakefield, Massachusetts-based Powers & Sullivan, LLC, effective February 1, 2024.
Massachusetts-based Powers & Sullivan has a portfolio of services spanning accounting, auditing, and management consulting, with a specialized practice focused on auditing governmental entities. Four partners and 26 associates from Powers & Sullivan are now integrating into Marcum’s team. The terms of the deal were not disclosed.
“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,” said Jeffrey Weiner, Chairman & CEO of Marcum. “This merger underscores the dedication to clients that both firms share and further enhances our ability to deliver industry-leading solutions.”
As a result of this merger, Powers & Sullivan’s clients will now benefit from the broad spectrum of services provided by Marcum. In addition to expanded assurance, accounting, financial reporting, and management consulting services, Powers & Sullivan clients can now enjoy specialized offerings in cyber and information security and executive search, among others.
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, comments on the long-term strategic importance of mergers with highly accomplished, deeply specialized firms like Powers & Sullivan: “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.”
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Tags: Accounting, Firm Management
