Top 100 accounting firm Sax has expanded its presence in its home state of New Jersey after acquiring Sewald & Anastasia CPAs, a full-service tax and accounting firm based in Morganville, effective June 1.
Financial terms of the deal weren’t disclosed. As a result of this acquisition, Sax is now a 62-partner firm with 367 total employees. The Parsippany, NJ-based firm now has five offices between New Jersey, New York, and Mumbai, India, and has a remote team that spans 22 U.S. states.
According to Sax, the alliance enhances its presence in Monmouth County, NJ, and strengthens its real estate and private client service capabilities through the addition of seasoned experts Charlie Anastasia and Steven Sewald.
Anastasia, who serves as owner and managing partner of Sewald & Anastasia, has become a partner at Sax. In addition, Sewald will be joining the firm’s Private Client Services practice as a director.
Anastasia’s addition will help to strengthen Sax’s Real Estate practice, leaning on his extensive experience in the accounting and finance sectors to drive innovative strategies and solutions for clients, Sax said in a June 10 media release.
“This acquisition is strategic, as both Sax and Sewald & Anastasia are equally aligned in our service philosophies and our dedication to continued growth to best serve our clients,” Joseph Damiano, Sax managing partner, said in a statement. “We are excited to welcome Charlie and his team to Sax. This partnership is a significant milestone for Sax, as our firm looks forward to leveraging this partnership to deliver enhanced value and innovative solutions to its clients across the region.”
In 2023, Steven Sewald & Co. merged with Charles Anastasia to form Sewald & Anastasia. After nearly two years of strong growth in the south New Jersey market, the two lifelong tax professionals and softball teammates saw the opportunity of joining Sax as the next stage of the firm’s natural evolution. Sewald & Anastasia has served small to medium-sized businesses across key markets, including construction, trucking, healthcare, and retail. Sax said this acquisition will bolster its capabilities in these sectors.
“I am thrilled to join Sax and contribute to the firm’s already impressive legacy,” Anastasia said. “This acquisition represents a unique opportunity to combine our strengths and deepen our commitment to delivering exceptional service to our clients. I look forward to working with Sax’s Real Estate practice and helping our clients navigate the complexities of the industry with innovative solutions and personalized guidance.”
This is Sax’s first M&A deal since January 2023 when it acquired Schall & Ashenfarb CPAs in New York City. Sax also acquired another New York City-based CPA firm, David Weiss CPA PLLC, in July 2022.
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