WithumSmith+Brown PC, a Top 25 Firm based in Princeton, New Jersey, has added BBD LLP, an accounting, tax and advisory firm based in Philadelphia that mainly serves nonprofit and government organizations.
As part of the deal, BBD's five partners and 40 team members will join Withum but remain at their current Philadelphia office at 1835 Market Street, Suite 300. Withum's current Philadelphia office is in the same building, in Suite 1710.
Financial terms of the deal were not disclosed. Withum ranked No. 23 on Accounting Today's 2024 list of the Top 200 Firms. The firm earned $540 million in annual revenue, while BBD earned $8 million in annual revenue. Withum has approximately 2,400 team members, including over 230 partners, working in 23 offices.
In March 2023, Cohen & Co., a Cleveland-based firm, acquired the investment management audit and tax practice of BBD, enabling Cohen & Co. to
"We are thrilled about this partnership with BBD as it further deepens our existing bench of expertise in the not-for-profit and government sectors and underpins our commitment to serving our communities," says Withum managing partner and CEO Pat Walsh in a statement Monday. "It also expands our presence in the dynamic Philadelphia business community and within the Mid-Atlantic region."
"We are excited to join a firm that aligns with our client-centric values while offering our staff endless career opportunities," said BBD managing partner Adam Watson in a statement. "This union is the next phase in our story while we continue to help our clients reach new levels of success."
Last year, Withum merged in
