Marcum LLP has expanded its presence in Boston by acquiring Robert, Finnegan & Lynah PC, effective January 1.
The Boston-based firm, which dates back to 1932, will become part of Marcum’s New England practice and has already relocated to Marcum’s offices. Financial terms of the transaction were not disclosed. New York-based Marcum ranked 14th on Accounting Today’s 2011 list of the Top 100 Firms, with $250.8 million in annual revenue. The firm expanded in 2010 to the New England area by acquiring several offices from UHY Advisors. RF&L has $3 million in annual revenue and 10 employees.
“The quality of Robert, Finnegan & Lynah’s work is well known in New England and I am confident that they are a great addition to Marcum,” said Marcum LLP managing partner Jeffrey M. Weiner in a statement.
RF&L president David Hall said the merger would provide a good match for his firm’s clients and employees.
“For Marcum, this was a strategic merger that will broaden their reach in Boston,” Koltin Consulting Group CEO Allan D. Koltin, who advised RF&L on the merger. “Marcum continues to look at Boston as a great market for growth, and I wouldn’t be surprised to see another one or two deals in the next couple of years. RF&L had three different firms looking to acquire them, but in the end chose Marcum due to its size, reputation, and added resources. Even though RF&L was much smaller in size than Marcum, they had some very substantial middle-market clients that will fit in well with Marcum.”
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