Sax Expands with Addition of New York-based KMR LLP

On Dec 2, 2022

Parsippany-based tax and advisory firm Sax LLP has expanded its Consumer Products Practice and New York presence through the acquisition of tax and accounting firm KMR LLP, based in New York City.

KMR LLP has provided financial guidance to individuals and businesses for close to two decades. The firm specializes in high-touch tax and audit services and is a top firm serving middle market entrepreneurs.  Sax will expand and enhance its Consumer Products Practice through KMR’s extensive business, proficiency and longtime relationships within the diamond and jewelry industry where they have a solid reputation and global presence. 

“We are very excited to join forces with Sax LLP, and to further strengthen our team, capabilities and expertise,” said Steven Merdinger, managing partner of KMR LLP.  “Sax is a great fit for us.  We searched extensively for the right partner to bring our existing client base to, and both our firms believe that exceptional client service and deep expertise are our bedrock that allows us to outperform our competition.  We are already witnessing a lot of positive momentum from our partnership, and I look forward to where that will take us.”

This is the third merger Sax successfully completed in the last four months to strategically expand the firm’s New York presence.  As a result of these recent partnerships, Sax added five partners and 26 employees to their New York team.  Sax is now a 50-partner-led firm with 278 total employees. The firm has three offices between New York and New Jersey, one international office located in Mumbai, India and has a remote team that spans 15 states and 2 countries.

“Sax is continuing to identify strategic partners in our field to accelerate growth through meaningful acquisitions,” said Joseph A. Damiano, CEO and managing partner of Sax LLP. “Just as important as expanding our size and reach, is finding the right fit that will complement our existing team, culture, and service philosophies.  KMR LLP does just that, and their high-quality professionals and capabilities will further strengthen us moving forward.”

The merger between Sax LLP and KMR LLP was brokered by Bill Carlino, managing director of national consulting services for Whitman Transition Advisors LLC. The newly combined firm under the Sax banner will offer a robust portfolio of consulting services for businesses and high-net-worth individuals.

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