Friedman adds Markowitz, Fenelon & Bank
Details: Friedman LLP, a Top 100 Firm based in New York, has added Markowitz, Fenelon & Bank, a firm headquartered in Long Island.
With the addition of MFB's offices in Bridgehampton and Riverhead, New York, Friedman will have 13 offices and around 600 partners and staff members. The deal is another sign of Friedman's recent growth, which includes the establishment of new locations in Red Bank, N.J., and Los Angeles, along with the relocation of its Manhattan headquarters and its Marlton, N.J., office to state-of-the-art spaces.
MFB has been around for more than 60 years, providing tax, audit, accounting and advisory services to high-net-worth individuals, family offices, closely held businesses, nonprofits and government entities.
"The firms' natural alignments across value systems and proficiencies will promote a swift integration of our respective teams," noted Friedman co-managing partner Harriet Greenberg in a statement.
Financial terms of the deal of the deal were not disclosed. Friedman ranked No. 40 on Accounting Today’s 2019 list of the Top 100 Firms. The firm had $135 million in annual revenue this year, and MFB had $8 million. Friedman has 75 partners, and MFB will be adding another five partners.
"MFB has always taken great pride in the level of professionalism and care that we provide," stated partner Thomas Terry. “By joining Friedman we will be able to offer a broader and more sophisticated range of services, including dedicated practice groups with specialized expertise in areas like international tax, cybersecurity and digital currency, among others."