February 4, 2023

finance

accounting

Parsippany-based tax and advisory firm Sax LLP has expanded its offering consumer goods practice and new Presence in York through the acquisition of tax and accounting firm KMR LLP, based in New York City.

KMR LLP has been providing financial advice to individuals and businesses for nearly two decades. The firm specializes in high-touch tax and auditing services and is a top firm for SME entrepreneurs. Sax will expand and enhance its Consumer Products practice through KMR’s extensive business, expertise and long-standing relationships within the diamond and jewelry industries, where they enjoy a solid reputation and global presence.

“We are very pleased to join forces with Sax LLP and continue to strengthen our team, skills and expertise,” said Steven Merdinger, Managing Partner of KMR LLP. “Sax suits us perfectly. We have searched extensively for the right partner to bring our existing customer base to and both firms believe that exceptional customer service and in-depth expertise is the foundation that enables us to outperform our competition. We are already experiencing a lot of positive impetus from our partnership and I look forward to where this will lead us.”

This is the third merger Sax has successfully completed in the past four months to strategically expand the company’s presence in New York. As a result of these recent partnerships Sax added five partners and 26 employees to its New York team. Sax is now a company managed by 50 partners with a total of 278 employees. The firm has three offices between New York and New Jersey and an international office in Mumbai, India and has a remote team spanning 15 states and 2 countries.

“Sax continues to seek strategic partners in our space to accelerate growth through meaningful acquisitions,” said Joseph A. Damiano, CEO and Managing Partner of Sax LLP. “Just as important as expanding our size and reach is finding the right solution that complements our existing team, culture and service philosophies. KMR LLP is doing just that, and their highly qualified professionals and skills will continue to strengthen us.”

The merger between Sax LLP and KMR LLP was brokered by Bill Carlino, director of national advisory services for Whitman Transition Advisors LLC. The newly combined company, under the Sax banner, will offer a solid portfolio of advisory services to corporates and high net worth individuals.

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