Parsippany, N.J.-based IPA top 100 firm SAX (FY24 net revenue of $110.9 million) announced that it has received a minority investment from Cobepa, an independent, privately held investment company with offices in Brussels and New York. The investment will support SAX’s continued expansion, innovation and commitment to delivering exceptional value to its clients.
SAX 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. The firm will retain independence with no disruption to client engagements or relationships.
“This is really a pivotal moment for our company and the industry,” said Joseph Damiano, CEO of SAX Advisory Group. “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.”
“Our investment in SAX is a direct result of their proven business model, strong leadership team, and client-first culture. 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,” said Andrew Hollod, managing director North America for Cobepa.
