US-headquartered accounting, tax and advisory practice SAX has acquired Scheidel, Sullivan & Lanni CPA (SSL) and Sierra Financial Advisors (Sierra) for an undisclosed sum.
Under the deal, Sierra Financial Advisors, the company’s wealth management arm, has moved into SAX Wealth Advisors, a wholly owned subsidiary of SAX.
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The combination aims to expand SAX’s existing offering across tax, accounting, advisory and wealth management services.
SSL offers long-standing experience and a partner-led service model, while Sierra contributes wealth management capabilities focused on fiduciary advice and established client relationships.
In a joint statement, SSL and Sierra leaders Timothy J. Sullivan, David F. Scheidel and Michael J. Lanni said: “This transaction ensures alignment with a firm that shares our culture, values, and dedication to clients. By joining SAX, we are providing our clients and team members with access to greater resources, expanded expertise, and increased opportunities – while maintaining continuity and the personalised service our clients rely on.”
Following the transaction, SAX adds 73 partners and close to 400 team members, with a national and international footprint that includes offices along the US East Coast and in India, and a remote workforce across 27 US states.
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By GlobalDataThe acquisition is the third transaction since SAX received a minority investment from Cobepa, an independent investment company.
SAX CEO Joseph Damiano said: “This acquisition reflects our commitment to strategic growth while upholding our values of respect, integrity, commitment, excellence and stewardship.
“Both SSL and Sierra have built strong legacies rooted in trusted relationships and professional excellence. Their cultures align beautifully with ours, and we are excited to welcome their teams to the SAX family.”
