Private equity-backed tax and accounting firm Prosperity Partners said Tuesday it has acquired New York City-based Farkouh, Furman & Faccio, a provider of tax, attest, accounting, and business consulting services.
Financial terms of the deal weren’t disclosed. FF&F’s seven partners and 38 employees have joined Prosperity as part of the transaction.
Founded in 1974, FF&F serves a geographically diverse, sophisticated clientele, including domestic and international businesses, high-net-worth individuals, and ultra-high-net-worth families.
“We are honored that Farkouh, Furman & Faccio, with its stellar reputation and talented professionals, has joined Prosperity, establishing a new flagship office in New York City,” Jeremy Dubow, CEO and co-founder of Prosperity, said in a statement on Dec. 9. “FF&F brings excellent service credentials, strong relationships, and new subject-matter expertise to our platform. As part of Prosperity, FF&F will gain operational leverage through our technology investments and access to our accomplished offshore team.”
Founded in 2003 as NDH Advisors by three Arthur Andersen alums, Chicago-based Prosperity received an equity investment from Unity Partners, a Dallas-based private equity firm, in 2023. Since then, Prosperity Partners has added offices in Kansas City, Houston, Philadelphia, Santa Barbara, CA, Detroit, Washington, D.C., Burlington, VT, and Vienna, VA.
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Prosperity serves businesses, high-net-worth individuals, and family offices throughout the U.S. The firm provides tax advisory, tax consulting, tax preparation, valuation, outsourced back-office accounting, fractional CFO, litigation support, and startup business services.
With this latest addition, Prosperity said it gains a dedicated audit team and international tax expertise—two new capabilities that will benefit the firm’s existing clients.
“While we’ve run a successful accounting firm for several decades, Prosperity provides a compelling path forward to grow our business, expand service offerings, and create greater opportunity for our professionals,” said Fred Farkouh, founding partner at FF&F. “The entire team is energized to participate in Prosperity’s equity compensation plan and to be part of one of the fastest-growing accounting firms in the country.”
All FF&F employees will participate in Prosperity’s Employee Purpose Plan, a broad employee ownership program that allows employees to benefit from the company’s future success.
“Prosperity’s people-first culture ensures that our team will be greatly supported and provided with new pathways to grow their careers,” added FF&F Managing Partner Bruce Militzok. “The broad employee ownership plan, combined with a firmwide focus on technology and training, will enable our team to continue delivering superior client service while rewarding their contributions to the firm’s success.”
Kirkland & Ellis LP served as legal advisor to Prosperity and Levenfeld Pearlstein LLC served as legal advisor to FF&F.
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