Parsippany-based SAX LLP, a top 100 accounting and advisory firm, has received a minority investment from Cobepa, an independent investment company, to support continued expansion and innovation.
With the investment, Sax will pursue strategic acquisitions to expand its physical footprint along the East Coast, enhance its service offerings, and drive further technological innovation across its practice areas.
SAX also will restructure to accommodate the investment, providing attest services through Sax LLP, a licensed CPA firm, and advisory, consulting and other professional services through Sax Advisory Group.
Joseph Damiano, CEO of SAX Advisory Group, emphasized the investment will allow SAX to remain independent while gaining a growth partner, positioning the firm to scale offerings and serve clients at an even higher level.
“This is really a pivotal moment for our company and the industry,” he said. “We’re doing something here that many other firms have not done – which is to remain independent while taking on a sponsor to assist in our continued growth strategy.
With Cobepa’s support, we’re better positioned than ever to scale our offerings, invest in our people, and serve our clients at an even higher level.”
Andrew Hollod, Managing Director North America for Cobepa, applauded the announcement.
“Our investment in SAX is a direct result of their proven business model, strong leadership team, and client-first culture,” he said. “We share a common vision for the business and believe that our “hands-with” approach will unlock compelling opportunities to continue growing the company and expanding its reach while maintaining the same high-quality client service that defines the firm.”
The deal was facilitated by Houlihan Lokey, represented by Managing Director – Louis Trimble, CFA. SAX was advised by Lowenstein Sandler, led by Nicholas San Filippo IV, and Vedder Price, led by Steven R. Berger. Cobepa was advised by Weil, Gotshal & Manges LLP, led by Luke Laumann.
Founded in 1956, SAX has built a reputation for being a top advisor to closely held companies, family-owned businesses, nonprofit organizations and high-net-worth individuals.
SAX has offices in Parsippany, Ewing, New York City and Mumbai, India.
