Marcum LLP Merges with Smart Devine

New York-based Marcum (FY14 net revenue of $385 million) announced that it will merge in Philadelphia-based Smart, Devine & Company (FY14 net revenue of $15.5 million), effective Dec. 1.

Smart Devine is highly regarded for its comprehensive audit, tax, risk and financial advisory, litigation support and forensic accounting services, the firms announced. PCAOB-registered, Smart Devine serves publicly traded, privately held as well as not-for-profit clients across a broad range of industries. The firm was ranked among the top 25 accounting and management consulting firms in Philadelphia by Philadelphia Business Journal.

Approximately 75 partners and staff will join Marcum, and the firm’s two Pennsylvania offices, in Philadelphia and King of Prussia, will become part of the Marcum organization.

“We are privileged to welcome a firm with Smart Devine’s reputation for excellence and track record of success,” says Jeffrey M. Weiner, Marcum’s MP. “In Smart Devine we have found a team that shares Marcum’s commitment to superior client service and uncompromising professional skill. The synergies between our firms are already apparent, and we anticipate significant contributions from the Smart Devine team to Marcum’s continuing growth in the Philadelphia region.”

“Combining with a national firm of Marcum’s stature and reach is a natural progression for Smart Devine,” says James J. Smart, founder and CEO of Smart Devine, who joins Marcum in the newly created position of PIC of mergers and acquisitions. “The depth of Marcum’s expertise and service offering will be a significant new asset for our clients, and we look forward to working with our new partners on a mutually beneficial future.”

The merger is the second this month for Marcum. Earlier this month, the firm announced a merger with Frost, Ruttenberg & Rothblatt in the Chicago area, the first expansion for the firm into the Midwest.