Marks Paneth LLP is expanding its entertainment practice by acquiring Shedler & Cohen LLP, a firm based in New York, effective Jan. 1, 2017.
Shedler & Cohen partners Michael S. Shedler and Ellen G. Cohen, along with 13 other professionals, are joining Marks Paneth, which is also based in New York City, as a result of the deal. They will be part of Marks Paneth’s Business Management and Family Office Practice, led by Lawrence Cohen, which caters to clients in the entertainment business.
Shedler & Cohen, founded in the 1950s, provides business management and individual tax services to actors, directors, set and lighting designers, producers and writers.
“Joining Marks Paneth enhances the value we can directly provide to our clients,” said Ellen Cohen in a statement. “We will now have the ability to provide end-to-end accounting, tax and advisory services, as well as expertise in areas such as real estate and international tax.”
Marks Paneth dates back to 1907 and has nearly 700 employees, including more than 90 partners. It provides a range of audit, accounting, tax, consulting, trade remediation and valuation services, along with litigation and financial advisory services, to clients in various industries. Besides the media and entertainment industry, it also services the real estate, hospitality, manufacturing, wholesale, distribution, retail, financial and professional services sectors, along with nonprofit and government clients, high-net-worth individuals and their families.
Marks Paneth ranked 34th on Accounting Today’s 2016 list of the Top 100 Firms, with $112 million in annual revenue.
“Shedler & Cohen’s specialized family office practice bears significant synergies with our Business Management and Theater, Media and Entertainment Practice,” said Marks Paneth managing partner Harry Moehringer in a statement. “The years of family office expertise brought on by Michael, Ellen and their team enhances our existing strength in these areas, and places us at the forefront in serving the needs of this segment.”