Lafayette Hill, Pa.-based McCarthy & Company, which specializes in construction accounting, announces that the firm is celebrating its 50th anniversary in business.
Founded in 1967 by John (“Jack”) D. McCarthy, CPA, the firm was recently named a Top 30 accounting firm by the Philadelphia Business Journal. The firm has expanded through organic growth and mergers. It merged in New Jersey-based Mazur Krieghbaum & Higgins in December 2016.
“Fifty years is an impressive milestone for any business,” says Michael Platt, publisher of INSIDE Public Accounting, “It is an even more impressive milestone for a partnership.” According to INSIDE Public Accounting’s annual Survey and Analysis of Firms, only 40% of the more than 500 participating public accounting firms can claim a legacy of at least 50 years or more.
MP Martin C. McCarthy joined McCarthy & Company in 1993. “My first client was a construction contractor,” explains McCarthy. “I immediately realized that I have a talent for helping owners of construction companies strengthen their financial position, grow their business and become more profitable. This is why I decided to buy the firm from my father in 1996.”
In 2003, McCarthy brought in partner David E. Gibbs, who shares his passion for working with clients in the construction industry. The firm also works with clients in the real estate, professional services, waste management, logistics and service industries, as well as municipalities.
McCarthy & Company provides traditional assurance, accounting, tax and business advisory services with a specialty in sales and use tax, nexus studies, long-term financial planning, employee benefit plan audits and tax credit analysis.