Marcum Acquires Chicago Firm Frost Ruttenberg

New York-based Marcum (FY14 net revenue of $385 million) has acquired Deerfield, Ill.-based Frost, Ruttenberg & Rothblatt (FY14 net revenue of $19.5 million) on Nov. 1.

The transaction marks the first entry into the Midwest market for Marcum, which has 18 U.S. offices. Frost’s 21 shareholders and principals and 90 professional staff have joined Marcum, the firm announced

“Frost, Ruttenberg & Rothblatt was a traditional full-service accounting firm with a comprehensive array of capabilities and client specialties that naturally complement Marcum’s,” said Jeffrey M. Weiner, Marcum’s MP. “Both of our firms have been serving clients for more than 60 years. In Frost we have found a team that brings additional depth to our service offering while giving Marcum a strategic presence in the center of the country.”

“In looking to the next 60 years and the ever-changing landscape of our industry and clients’ needs, our strategic focus on the future recognized the logical progression to join forces with a national firm that shared our values and commitment to excellence,” says Richard S. Sgarlata, former president of Frost. Sgarlata now serves as Marcum’s PIC of the Chicago and Deerfield, Ill., offices.

He adds, “The merger of the firms expands our recognized health care practice capabilities nationally and brings a wealth of expertise to our corporate clients’ M&A needs and the local private equity marketplace.”