National accounting, tax and advisory firm SAX is growing again.
On Friday, the Parsipanny-based firm announced it has acquired New York City-based
Owen J. Flanagan & Co., a move SAX officials say will strengthen its capabilities across
attest, tax, consulting, and advisory services, while preserving the personalized client
service that has defined OJF for nearly five decades.
OJF, founded in 1977, has a strong reputation in auditing and accounting, serving a
wide range of clients from tax-exempt organizations — including private foundations
and public charities — to 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,” SAX CEO Joe Damiano
said. “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.”
The transaction marks SAX’s second acquisition of the year, bringing the firm to 73
partners, 432 total employees, and over $4.6 billion in AUM, with a presence across five
offices in New Jersey, New York and Mumbai, India, as well as a remote workforce
spanning 27 U.S. states.
The firm announced at the start of the year that it had acquired Scheidel, Sullivan &
Lanni CPA and Sierra Financial Advisors.
There likely will be more. The deal represents the 4th transaction since SAX’s recent
minority investment from Cobepa, an independent investment company. The Cobepa
partnership continues to fuel SAX’s strategic growth trajectory — accelerating East
Coast expansion, enhancing service capabilities, and fostering innovation — while the
firm remains proudly independent.
John Corcoran, a partner at OJF, applauded the announcement.
“Since 1977, our mission has been to provide the highest level of service with personal
attention and care,” he said. “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.”
Joe Tarasco of Accountants Advisory Group advised both parties on the transaction.
