Mazars USA adds Elliott Horowitz
Details: Top 100 Firm Mazars USA LLP has merged in Elliot Horowitz & Co. LLP, a New York-based firm, effective Nov. 1.
As part of the deal, Elliot Horowitz’s 40-person team will be joining Mazars USA. Financial details were not disclosed. Mazars USA, which is also based in New York City, ranked No. 24 on Accounting Today’s 2017 list of the Top 100 Firms, with $187 million in annual revenue.
Elliot Horowitz offers accounting, tax and consulting services, focusing on entrepreneurial businesses and high-net-worth individuals. Elliot Horowitz, Bruce Balsam, Stuart Kamelhar and Barbara LaRocca are joining Mazars USA as partners. Their team plans to relocate to the Mazars USA New York office in May, but will integrate their professionals and practice areas right away.
“This is a very exciting time for us and our clients as we grow our footprint in the New York region and expand our capabilities,” said Mazars USA LLP chairman and CEO Victor Wahba in a statement. “The merger is a critical piece in our growth strategy in providing top-tier services to entrepreneurial businesses and high-net-worth individuals, a very important business segment of our firm.”
Mazars USA is part of Mazars Group, a network of accounting firms with more than 18,000 professionals in over 79 countries. Horowitz sees the combination helping grow his business globally. “We are pleased to join Mazars USA to ensure the next stage in the growth of our business to a firm with national and global reach,” he said in a statement. “We are confident that this is the right course for our clients and employees, and together we will provide the highest level of client service for which Mazars and Elliot Horowitz & Company are known for.”
EY acquires E-STET
Details: Big Four firm Ernst & Young LLP has acquired E-STET, a California-based legal technology company.
The E-STET team will join EY’s eDiscovery team as part of its Fraud Investigation and Dispute Services practice. EY plans to leverage the E-STET team to help small and midsized businesses with their legal processes and workflow technology.
Financial terms of the deal were not disclosed. EY ranked No. 3 on Accounting Today’s 2017 list of the Top 100 Firms, with $12.2 billion in annual revenue.
E-STET was founded in 2007. “E-STET has a decade of experience helping companies navigate the complexity of e-discovery and provides services that increase transparency, streamline legal processes and provide predictable pricing,” stated EY partner Brian Loughman, who is the EY Americas FIDS Leader. “As we look for ways to better serve our clients and grow our business, we continue to make selected investments to bring more flexibility and scalability to our e-discovery offerings so we can effectively serve clients and matters of all sizes.”
Glass Jacobson merges in Friedman
Details: Glass Jacobson PA, a CPA firm and a member of the Glass Jacobson Financial Group, has signed an agreement to merge in Friedman and Associates PC, effective Dec. 1, 2017, expanding Glass Jacobson’s services in the Baltimore-Washington, D.C., area.
Financial terms of the deal were not disclosed. As part of the deal, all seven team members from Friedman’s office in Rockville, Md., including partner/principal Marc Friedman, are relocating to Glass Jacobson offices in Rockville. “This combination will allow us to have even more resources to grow, and will bring greater professional development opportunities for our team members,” he said.
Ira Rosenbloom of Optimum Strategies helped broker and structure the transaction.
“We looked to partner with another well-respected CPA firm that would boost our organic growth in a specialty area for our Baltimore-Washington markets,” said Glass Jacobson CEO Ed Jacobson in a statement.
Glass Jacobson operates in both Owings Mills and Rockville, and for the past seven years has been named a Top Work Place by the Baltimore Sun. The combined firm will have five partners and approximately 55 staff. Its parent, Glass Jacobson Financial Group, has more than 70 shareholders, accountants, advisors and other staff members.
Gross Mendelsohn combines with Gurman
Details: Gross, Mendelsohn & Associates PA has merged with Gurman & Co., a firm based in Fairfax, Va., effective Nov. 30, 2017.
Gross Mendelsohn is a second-generation CPA, technology and wealth advisory firm serving private businesses, nonprofit organizations and families in the Mid-Atlantic region. Besides Fairfax, the firm has offices in Baltimore, Md.
This is the second merger in Northern Virginia by Gross Mendelsohn since 2015. The latest deal will more than double the size of its existing Fairfax office, increasing the total headcount to 125.
One partner, Paul Gurman, and 11 staff from Gurman are joining Gross Mendelsohn, which prior to the merger had 18 partners and 95 total staff members.
“Gurman & Co. has had a successful 36-year history of helping clients,” Gurman said in a statement. “Merging with Gross Mendelsohn will create new opportunities for clients and staff. ... In addition to calling on us for accounting, consulting and tax services, our clients now have access to a full team of industry specialists, investment advisors, technology consultants, business valuation specialists and litigation support professionals.”
Financial details were not disclosed. Gross Mendelsohn had $20 million in annual revenue while Gurman & Co. had $2 million.
“This merger further bolsters Gross Mendelsohn’s northern Virginia presence,” said Gross Mendelsohn managing partner David Goldner in a statement. “I am impressed by the talented team of professionals who are joining Gross Mendelsohn as a result of this merger. This means only good things for the firm’s clients in the northern Virginia and D.C. market, where we provide litigation support and serve government contractors, privately owned businesses, nonprofits and high net worth families.”
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