Top 100 firm Friedman LLP has combined forces with Philadelphia-based accounting firm, Shechtman Marks Devor PC, effective Jan. 1, 2016.
The deal will enable New York City-based Friedman LLP to expand its presence in Philadelphia, while also growing several service areas in which the two firms specialize.
Shechtman Marks Devor PC dates back to 1978 and provides specialty audit and assurance, tax planning and forensic, litigation and valuation services to a number of industries, including manufacturing, distribution, not-for-profit, professional services, construction, metals, health care as well as high net worth individuals.
The deal will give Friedman LLP a staff of approximately 400, with over 70 partners, including approximately 38 Shechtman professionals and nine partners. The addition of location and the integration of services allows the firm to increase its client base and provide an even broader range of services to a greater client population.
"One of the most important things I can do as chief executive officer of Friedman LLP is help my team reach new markets and specialty areas through growing our business," said Friedman CEO Bruce Madnick in a statement. "In the new year, I am truly excited to welcome new faces to the Friedman family as we work together to reach new heights as a team and to become further involved with the Philadelphia community."
Chuck Shechtman, managing partner of Shechtman Marks Devor PC, agreed, saying, "Our froup at Shechtman Marks Devor PC is very excited to be joining forces with Friedman LLP. Their purpose, core values and culture mirror our own and this was a central focus for us as we made the decision to blend our teams. Joining Friedman LLP and combining our services and employees offer new business opportunities for our firms, our people and our clients. We look forward to continued and expanded service in Philadelphia and the Delaware Valley."
Friedman ranked 44th on Accounting Today’s 2015 list of the Top 100 Firms, with $81 million in annual revenue. The firm also ranked as one of Crain's Best Places to Work in NYC for two consecutive years and NJBiz 2015 Best Places to Work in NJ.
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