Top 100 accounting firm Sax has acquired SCL Consulting, a Columbia, MD-based financial consulting firm that specializes in client accounting services, effective Nov. 14.
Financial terms of the deal weren’t disclosed.
This is the Parsippany, NJ-based accounting firm’s first M&A deal since it announced in August that it had planned to acquire Florham Park, NJ-based CPA firm Maddaloni, Nydick & Keenan in a transaction that was expected to close on Nov. 15.
The acquisition of SCL Consulting is Sax’s second deal since securing a minority investment from global private equity firm Cobepa last summer.
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Sax said the addition of SCL Consulting strengthens one of its fastest-growing disciplines—CAS—and expands the firm’s Mid-Atlantic presence.
Founded in 2014 by Shane Lease, SCL Consulting has spent more than a decade delivering high-quality, tailored accounting and advisory solutions, and is widely recognized for its CAS expertise.
“We’re thrilled to welcome Shane and the SCL Consulting team to Sax,” CEO Joseph Damiano said in a statement. “This partnership reflects our shared values—client focus, excellence, and teamwork. By combining SCL’s deep experience in client accounting services with our own established practice, we’re enhancing our ability to deliver exceptional results and drive continued growth for our clients.”
“I founded SCL Consulting with the goal of delivering meaningful financial guidance and long-term value for our clients,” Lease said. “This next step with Sax represents a natural evolution for our firm. Sax’s strength in client accounting services, along with its collaborative culture and focus on innovation, will allow us to continue serving our clients with even greater depth and efficiency.”
As a result of this integration, SAX now comprises 70 partners and 389 total employees, with a presence across five offices in New Jersey, New York, and Mumbai, India, and a remote workforce spanning 30 U.S. states.
Sax operates in an alternative practice structure. Sax LLP is a licensed independent CPA firm that provides attest services to its clients, and Sax Advisory Group LLC and its subsidiary entities provide tax and business consulting services to their clients. Sax Advisory Group and its subsidiary entities aren’t licensed CPA firms.
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