The accounting firm E. Cohen and Company, CPAs of Rockville, Maryland, has merged into Marcum, effective December 1.
In conjunction, E. Cohen’s information technology subsidiary, BinaryNetworks , merged into Marcum Technology, LLC.
The transactions expand Marcum’s tax, assurance, and advisory services across the Mid-Atlantic region, where the Firm currently has offices in Philadelphia, Washington, D.C., and Rockville.
E. Cohen and Binary add more than 90 partners and associates to Marcum, bringing the Firm’s team to approximately 4,000 nationwide. Terms of the deal were not disclosed.
E. Cohen was a full-service tax and accounting firm serving individuals and middle-market businesses. The firm’s practice was focused on construction, government contracting, hospitality, nonprofit, professional services, real estate, and wholesale distribution. E. Cohen was consistently ranked among the top accounting and advisory firms in the Capital Region and the top 300 firms nationally. In 2019, it was named the No.1 firm for women by Accounting Today.
“E. Cohen was a recognized leader with deep roots in the Maryland business community and brings substantial experience to Marcum. They will not only bolster our existing presence in Rockville but will also play a key role in our expansion throughout the Mid-Atlantic region,” said Jeffrey M. Weiner, Marcum’s chairman & chief executive officer.
“We built our business over many years with a bedrock commitment to integrity and honesty, accountability, respect and teamwork, continuous process improvement and, above all, client relationships. We see these values strongly reflected in Marcum’s culture. As a top national firm that has helped shaped our industry, joining Marcum is a clear opportunity to ensure the long-term well-being of our clients as well as our team, while continuing to play an active role in our business community,” said Eric Cohen, the former firm’s managing principal.
“E. Cohen and Company was a regional model of excellence. Eric Cohen and his team will be instrumental in our continued growth in the Maryland market and throughout the Mid-Atlantic region, and we are eager begin our collaboration,” said Jeffrey D. Zudeck, Marcum’s Mid-Atlantic Regional Managing Partner.
Allan D. Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination, commented, “E. Cohen defines what an entrepreneurial firm is all about – offering great advice and being viewed by their clients as an ‘impact player’ in their businesses. Marcum’s track record for growth has been staggering. They continue to be the envy of the profession while attracting best-in-class local and regional CPA and advisory firms to combine with. They might have $1 billion of revenue on the top line, but the bottom line is it’s a culture where you can achieve a really successful career and deliver amazing services to clients along the way.”