Top 75 accounting firm Sax has acquired CoMetrics Partners, a New York City-based specialized management consulting and technology firm serving consumer product companies, lenders, and investors.
Financial terms of the deal weren’t disclosed. CoMetrics’ entire professional staff and its three partners have joined Sax.
This is Sax’s third M&A deal this year. The firm acquired Scheidel, Sullivan & Lanni CPA, a Ramsey, NJ-based accounting and advisory firm, while its subsidiary, Sax Wealth Advisors, acquired Sierra Financial Advisors, SSL’s wealth management arm, in January.
Sax also acquired Owen J. Flanagan & Co., an accounting firm based in New York City, effective Jan. 22.
The firm, which received a minority investment from private equity group Cobepa last year, now has 73 partners and more than 500 professionals across offices throughout the East Coast and one international location, supported by a remote workforce spanning 28 states.
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With the acquisition of CoMetrics, Sax says it’s expanding the firm’s capabilities in turnaround management, profit optimization, M&A due diligence, lender services, and performance analytics.
“The combination reflects a shared commitment of delivering objective, technology-enabled insight that helps clients navigate complex and time-sensitive business decisions,” the Parsippany, NJ-based accounting firm said in a March 27 media release.
Founded more than 18 years ago, CoMetrics combines significant operational and financial consulting experience with proprietary software for clients to make faster data-driven decisions.
“Mid-market consumer product companies don’t need another advisor telling them what happened last quarter. They need someone who can show them what’s happening right now and help them act on it,” Joseph Damiano, CEO of Sax Advisory Group, said in a statement. “CoMetrics has built exactly that capability: hands-on operators with proprietary technology that gives clients real-time visibility into their business. Bringing that into the Sax platform means our clients get one team that sees the whole picture: operations, capital structure, and performance data, all under one roof.”
“This partnership is a significant advancement for our consumer products clients,” added Joshua Chananie, head of Sax consumer products. “Integrating DataMetrics [CoMetrics’ proprietary technology] with our advisory capabilities gives clients real-time visibility into their key performance indicators—that drives financial performance and sustainable growth.”
By joining Sax, CoMetrics gains access to a broader national platform and multidisciplinary resources while maintaining the independence and execution discipline that define its approach. The CoMetrics team, methodology, and proprietary platform remain intact, collaborating across restructuring, transaction advisory, and strategic consulting engagements, Sax says.
“Sax is an entrepreneurial professional services firm that shares our values and commitment in helping our clients achieve excellence,” Gary Herwitz, managing partner of CoMetrics Partners, said in a statement. “Sax gives us the platform to expand upon what we already do well, with significantly more resources behind us.”
Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination, commented, “Among the top 60 CPA firms nationally, Sax continues to be recognized as one of the highest-performing firms in the country. The firm is now expanding its M&A and lateral talent strategies and attracting exceptional talent eager to join. Gary Herwitz and his CoMetrics team are one of the preeminent advisory firms in the consumer products industry and, with the Sax platform behind them, should accomplish great things together.”
Photo credit: Sax
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