Marcum LLP, a top-ranking national accounting and advisory services firm, kickstarted the new year with an acquisition that further strengthens its presence in New England. Entering into effect on January 1st, Connecticut-based firm Federman Lally & Remis LLC (FLR) announced it has merged with Marcum. The announcement was made public on Tuesday.
The addition of FLR, a highly recognised tax and accounting firm, will enhance Marcum’s engagement in the automotive and food and beverage sector. Importantly, it also provides a boost to the larger firm’s tax and assurance divisions. Such a merger presents Marcum with a valuable opportunity to consolidate its existing Connecticut base and extend its operational reach across New England.
Speaking of personnel, the merger will see five partners and twelve associates from FLR add their considerable industry-specific expertise to Marcum’s forces. Among those transitioning, Bob Lally will assume the position of office managing partner at the Farmington office. This amalgamation of capital – both in human and financial terms – is expected to harness and enrich the collective knowledge, creativity, and service delivery of both firms.
The details of the merger were disclosed in a press release issued directly from Marcum, which articulates the firm’s strategy for growth and expansion in the New England region.
This story and the details of this major development in the US accounting space were noted in reports by Bloomberg Tax Automation.