M&A roundup: PKF O’Connor Davies and Ryan expand

Details: PKF O’Connor Davies, a Top 50 Firm based in New York, has acquired Simon, Tapper, Edelman & Wilner, a firm in Hackensack, Jersey, expanding PKFOD’s presence in the Garden State.

STE&W offers tax, consulting and accounting services including retirement, estate and business succession planning, tax preparation, IRS representation, financial forecasts and projection, cash flow and budgeting analysis, and audits, reviews and compilations.

“We’re excited by the ongoing growth of the firm, and we truly believe our culture, approach and infrastructure has made PKF O’Connor Davies a destination for like-minded professionals,” said PKF O’Connor Davies executive chairman Kevin Keane in a statement Friday. “With their many years of experience offering one-on-one accounting and tax support to a diverse set of clients, the team at STE&W is the perfect addition to the PKF O’Connor Davies team. I look forward to welcoming them and their clients to the firm.”

Financial terms of the deal were not disclosed. STE&W’s annual revenue is approximately $5 million, and the firm employs five partners and 20 staff members. They will join PKFOD’s Woodcliff Lake, New Jersey, office later this year. PKFOD ranked No. 27 on Accounting Today’s 2021 list of the Top 100 Firms, with $202 million in annual revenue and over 1,400 professionals.

“Client relationships have always been the foundation of our business, and PKF O’Connor Davies’ shared belief in the value of high-touch service is one of the many reasons why this partnership is poised for success,” said STE&W partner Stuart Tapper in a statement. “Together, our clients can expect an unparalleled level of support guided by a mutual commitment to accounting excellence.”

In December, PKFOD acquired another New Jersey firm, LB Goodman & Co., in Fair Lawn, New Jersey. In November, it added DGC LLP (formerly DiCicco, Gulman & Co.), an accounting, tax and advisory firm based in Boston.