M&A watch: MahoneySabol and Wagner expand

MahoneySabol & Company LLP, a regional firm based in Glastonbury, Connecticut, has merged with Giamalis and Company, also headquartered in Glastonbury, effective Jan. 15. 

MahoneySabol was founded in 1990 and has over 60 accounting professionals. Financial terms of the deal were not disclosed.

"This merger is a significant milestone for MahoneySabol as it aligns with our growth strategy and reinforces our commitment to providing high-quality services to our clients," said MahoneySabol managing partner James Mahoney in a statement Friday. "Giamalis and Company has a stellar reputation, and we are excited to welcome their team into our organization."

Giamalis's clients are mainly in the restaurant, real estate, automotive dealership and construction industries. As part of the deal, principal Stephen Giamalis will become a partner at MahoneySabol.

"While it's been our privilege to serve our clients for the past 29 years, given our continued growth, we feel that a larger organization will allow us to provide a wider array of services and greater depth to our clients," he said in a statement. "Additionally, the firm's membership in the BDO Alliance USA provides national and international expertise through the international BDO network."  

The combined firm will offer services such as tax planning, audit and assurance, business advisory. "We are thrilled to welcome the talented professionals from Giamalis and Company into the MahoneySabol family," said MahoneySabol partner Michael Sabol in a statement. "This strategic merger aligns with our vision of expanding our capabilities and delivering exceptional value to our clients."

Wagner, Duys & Wood, a firm based in Bethesda, Maryland, has merged with Kaplan Company, headquartered in Rockville, Maryland, effective Jan. 1, to form Wagner, Kaplan, Duys & Wood LLP.

Both firms are boutique tax practices in the D.C. metro area serving high net worth individuals, commercial real estate, inbound commercial real estate, professional services and the middle market. The combined firm has six partners and 27 other team members. Pre-merger, Kaplan had two partners and four additional team members. Wagner Duys & Wood had four partners and 23 other team members.

Financial terms of the merger were not disclosed. Like MahoneySabol, Wagner Duys & Wood is also a member of the BDO Alliance USA.