Parsippany-based Sax LLP on Monday announced the expansion of its accounting, tax and advisory presence in New York through the acquisition of fellow tax and accounting firm David Weiss CPA PLLC, based in New York City, effective July 31.
As a result of this partnership, Sax is now a 47-partner firm with 237 total employees. The firm has three offices between New York and New Jersey and has a remote team that spans 14 states.
David Weiss CPA PLLC has provided quality and personalized financial guidance to individuals and businesses for over 35 years, with expertise ranging traditional tax management and accounting to more in-depth services such as audits, financial statements and financial planning.
David Weiss CPA PLLC has a reputation for lofty standards of excellence and professionalism and is one of the leading firms in the tri-state area.
The newly combined firm under the Sax banner has further strengthened its service to the New York market with high-quality tax and accounting and offers a robust portfolio of consulting services that provide significant value to businesses and high net worth individuals.
Robert Fligel of RF Resources LLC served as the adviser for the acquisition.
“This is an exciting time for David Weiss CPA as we move forward with Sax to enhance our capabilities and services for our clients,” said David Weiss, partner of David Weiss CPA PLLC. “This partnership with Sax is an excellent match, as we both strive for the same goals and operate with the utmost professionalism, skill and drive. Together, with our combined expertise and resources, we will continue our collective growth and deliver meaningful results and solutions to those we serve.”
“In my time as managing partner of Sax, we have seen our firm grow by 137%, and a good portion of that is attributed to successful mergers and acquisitions. When identifying potential partners, it is mission critical to Sax leadership that we find the right fit,” said Joseph Damiano, CEO and managing partner of Sax LLP. “Our intention is to expand our size and reach, but also to reinforce our team culture and service philosophies that got us to where we are today. We found a tremendous match with David Weiss CPA. Not only are they aligned with Sax where it matters most, but their highly capable professionals and high-caliber expertise takes us another step further in the New York market, and as a firm overall.”
As another growth initiative slotted for 2022, Sax intends to open its first international office in Mumbai, India by the end of the year.