US-based Prosperity Partners (Prosperity), which provides tax, client accounting and transaction advisory services, has acquired Fabietti, Hale, Hammerstedt & Powers (FHHP) for an undisclosed sum.
Established in 1959, FHHP provides business advisory and accounting services to family owned and closely held businesses, individuals, trusts, estates and other organisations across southern New Jersey and the wider Philadelphia area.
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Its services cover advisory, tax, client accounting and attest work.
The deal forms part of Prosperity’s plan to grow its national platform by partnering with companies that align with its focus on client service, workforce investment and advisory services.
Prosperity co-founder and CEO Jeremy Dubow said: “We are thrilled to welcome FHHP’s talented team and clients to Prosperity.
“FHHP has earned an outstanding reputation as a trusted, long-term advisor by developing deep relationships and consistently delivering exceptional service. Its client-first culture and commitment to its people align closely with Prosperity’s values.
“Together, we will build on those strengths by providing clients with access to a broader range of specialised capabilities, additional service capacity, and continued investment in technology and talent.”
FHHP gives Prosperity an entry point into the greater Philadelphia market. The combined business will support family owned and closely held companies across a wider set of tax, accounting, financial and strategic requirements.
FHHP clients will gain access to Prosperity’s national resources and capabilities.
FHHP employees will also join Prosperity’s Employee Purpose Plan, a company-wide employee ownership scheme.
The transaction follows Prosperity’s strategic partnership with private equity firm Lightyear.
