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M&A roundup: Plante Moran, Sax and GHJ expand

June 10, 2025
in Accounting
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M&A roundup: Plante Moran, Sax and GHJ expand
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Sax, a Top 75 Firm based in Parsippany, New Jersey, has acquired Sewald & Anastasia CPAs, based in Morganville, New Jersey, effective June 1.

The deal expands Sax’s presence in Monmouth County and strengthens its real estate and private client service capabilities by adding founders Charlie Anastasia and Steven Sewald.

Steven Sewald & Co. merged with Charles Anastasia to form Sewald & Anastasia in 2023.  After nearly two years of growing their firm in South New Jersey, the two lifelong tax professionals and softball teammates saw the opportunity of joining Sax. For 30 years, they have served small to medium-sized businesses in markets such as construction, trucking, health care, and retail. This acquisition will bolster Sax’s capabilities in these vital sectors.

Anastasia, who has been managing partner of Sewald and Anastasia, will join Sax as a partner, helping to strengthen Sax’s real estate practice. Sewald will be joining Sax’s private client services practice as a director. 

“This acquisition is strategic, as both Sax and Sewald & Anastasia are equally aligned in our service philosophies and our dedication to continued growth to best serve our clients,” said Sax managing partner Joseph Damiano in a statement. “We are excited to welcome Charlie and his team to Sax.  This partnership is a significant milestone for Sax, as our firm looks forward to leveraging this partnership to deliver enhanced value and innovative solutions to its clients across the region.”

As a result of the deal, Sax is now a 62-partner firm with 367 total employees and now has five offices between New Jersey, New York, and Mumbai, India, and a remote team spanning 22 U.S. states.  Will Walsh of 1LifeConsulting, LLC consulted on the transaction.

Financial terms of the deal were not disclosed. Sax ranked No. 66 on Accounting Today‘s 2025 list of the Top 100 Firms, with $109 million in annual revenue.

“I am thrilled to join Sax and contribute to the firm’s already impressive legacy,” Anastasia said in a statement. “This acquisition represents a unique opportunity to combine our strengths and deepen our commitment to delivering exceptional service to our clients. I look forward to working with Sax’s real estate practice and helping our clients navigate the complexities of the industry with innovative solutions and personalized guidance.”

In 2023, Sax merged in Schall & Ashenfarb CPAs, a firm based in New York. In 2022, Sax acquired David Weiss CPA, also in New York.

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