SAX, a national accounting, tax, and advisory firm, has acquired Owen J. Flanagan & Co. (OJF), aiming to expand its services in attest, tax, consulting, and advisory areas. The acquisition is intended to maintain the personalized client service that OJF has provided since its founding in 1977.
OJF has established a reputation for auditing and accounting services across various sectors including tax-exempt organizations such as private foundations and public charities, as well as for-profit businesses, high-net-worth individuals, estates, and trusts.
“This acquisition reflects our commitment to growth while staying true to our values of respect, integrity, commitment, excellence, and stewardship,” said Joseph Damiano, CEO of SAX. “Owen J. Flanagan & Co. has built an outstanding legacy of trust and excellence over nearly 50 years, and their culture aligns seamlessly with ours. We’re thrilled to welcome their team into the SAX family.”
John Corcoran, partner of OJF stated: “Since 1977, our mission has been to provide the highest level of service with personal attention and care. Partnering with SAX ensures that our clients will benefit from expanded resources and expertise, while continuing to receive the same trusted guidance from the people who know them best.”
Kevin Sunkel, Partner at OJF added: “This is an exciting new chapter for our firm, our clients, and our team. By joining with SAX, we are preserving the close-knit relationships and continuity our clients value while enhancing our ability to serve their evolving needs well into the future.”
Joe Tarasco from Accountants Advisory Group advised both firms during this transaction.
This deal is SAX’s second acquisition this year. With this addition, SAX now counts 73 partners among its ranks along with 432 employees overall. The company manages more than $4.6 billion in assets under management (AUM) across five offices located in New Jersey; New York; Mumbai; plus a remote workforce operating in 27 U.S states. This marks the fourth transaction since SAX received a minority investment from Cobepa—an independent investment company—which continues to support SAX’s expansion on the East Coast as well as improvements in service capabilities.
