Two IPA Top 100 Firms Annouce Mega-Merger – May 21

 

New York-based Marcum & Kliegman (FY08 net revenue of $182.5 million) and Miami-based Rachlin LLP (FY08 estimated net revenue of  $40 million) announced today that they will merge effective June 1. With the merger, the firm will be called Marcum LLP in the Northeast and MarcumRachlin, a division of Marcum LLP, in the South.  

 

This move to a new region accelerates Marcum’s strategy to move from a regional firm to a national firm.

 

M&K was ranked #23 last year by IPA and Rachlin was #81 on the IPA Top 100 list.  The combined firm will have more than 800 professionals including 84 partners in 10 locations in New York, New Jersey, Connecticut, Florida and Grand Cayman. This would place Marcum LLP among the Top 20 firms in terms of staff size.

 

“The world is different today,” Marcum MP Jeff Weiner tells IPA.  “Firms now have to take the opportunity to stop and think about their growth strategies, and both our firm and Rachlin shared the vision for a unique national growth strategy.” 

 

“Locals are becoming regionals, regionals are becoming mega-regionals, and mega-regionals are becoming national firms,” says Allan Koltin of PDI who has worked with Marcum on strategy development over the years.  Jay Nisberg made the introduction of Marcum and Rachlin last June.  “The decision to merge happened very quickly – it was the paperwork that took the longest,” says Weiner.

 

Marcum has signed a letter of intent to acquire a leading firm in Philadelphia July 1, and  is also looking to expand with mergers of major market leaders in southern California and Chicago.