Top 30 accounting firm Mazars USA acquired Chestnut Hill, MA-based accounting firm Samet & Company PC, according to a Dec. 1 press release. Terms of the deal were not announced.
As part of the deal, 65 professionals, three managing directors, and five partners from Samet will join Mazars.
“We’re excited to welcome our new team members from Samet & Company PC. This acquisition significantly expands our footprint in the Boston market which is an important financial services hub and key to our global growth strategy,” Mazars USA Chairman and CEO Victor Wahba said in a statement. “Samet’s strength working with clients across audit, tax and accounting advisory in the region, aligns with our goal of expanding nationally and building our capabilities in the Boston region.”
For more than 50 years, Samet has provided financial, tax, and consulting services for privately owned businesses, entrepreneurs, family offices, and high-net-worth individuals. With offices in Chestnut Hill and Brewster, MA, the acquisition allows Mazars to expand in the Boston market. Samet’s addition also complements Mazars’ services in industries such as manufacturing and distribution, real estate, and technology, the firms said.
“Joining Mazars allows our team to expand the services and capabilities we can offer to our clients both in Boston and beyond,” said Jay Kessler, managing partner at Samet. “We’re looking forward to bringing our expertise and talent to Mazars, contributing to future growth and enhancing the offerings we provide to our clients to help them achieve their goals.”
Jay Nisberg and Associates, who advised both firms on the transaction, said “both firms share a culture, work ethic, and values that will ensure their success.”
According to INSIDE Public Accounting, Samet is the 279th largest firm in the U.S. based on revenue, with a little more than $15 million during its most recent fiscal year. Mazars USA brought in $231 million during its most recent fiscal year and is the 27th largest firm in the U.S.