US-based tax and accountancy company Prosperity Partners has acquired Farkouh, Furman & Faccio (FF&F), a New York-based tax and accounting practice.
Financial specifics of the deal remain undisclosed.
Prosperity Partners is supported by private equity firm Unity Partners.
FF&F was established in 1974 and provides services to domestic and international businesses as well as high-net-worth and ultra-high-net-worth individuals and families.
With this integration, seven FF&F partners and 38 employees have joined Prosperity Partners.
FF&F managing partner Bruce Militzok said: “Prosperity’s people-first culture ensures that our team will be greatly supported and provided with new pathways to grow their careers.
“The broad employee ownership plan, combined with a firm-wide focus on technology and training, will enable our team to continue delivering superior client service while rewarding their contributions to the firm’s success.”
The partners from FF&F are reinvesting in Prosperity as a part of this process.
All FF&F team members will now take part in Prosperity’s Employee Purpose Plan, an employee ownership scheme that allows staff to benefit from the company’s future performance outcomes.
Prosperity co-founder and CEO Jeremy Dubow commented: “We are honoured that Farkouh, Furman & Faccio, with its stellar reputation and talented professionals, has joined Prosperity, establishing a new flagship office in New York City.
“FF&F brings excellent service credentials, strong relationships and new subject matter expertise to our platform. As part of Prosperity, FF&F will gain operational leverage through our technology investments and access to our accomplished offshore team.”
Last year, in September, Prosperity Partners acquired CCA, a specialist tax consultancy founded in 1983 and located in Detroit.
“Prosperity Partners acquires New York-based tax practice Farkouh, Furman & Faccio ” was originally created and published by International Accounting Bulletin, a GlobalData owned brand.
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