Joe Natarelli, Marty McCarthy, and Jim McGettigan, Managing Directors in CBIZ’s construction practice, offer their perspectives on the firm’s recent acquisition of Marcum. They discuss what this milestone means for the future of CBIZ’s expanded construction group across the nation, including the Mid-Atlantic region and beyond.
National – Joe Natarelli
What does the integration of CBIZ and Marcum mean for construction clients on a national scale?
The integration of CBIZ and Marcum is a game-changer for our construction clients across the nation. By joining forces, we’ve not only expanded our service capabilities but also enriched our expertise. This merger means we can now offer a truly comprehensive range of services and leverage a deeper well of knowledge and talent. Ultimately, it allows us to support our clients more robustly and effectively, ensuring they receive the best possible guidance and solutions.
How does the acquisition enhance the resources available to our clients?
The acquisition significantly enhances the resources available to clients by effectively doubling our construction bench. This means we now have a larger, more robust team of experts on a national level. As a result, we can provide more personalized attention and dedicated service, ensuring our clients receive the highest level of comprehensive, attentive support and the vast expertise of a large team with experience across the full spectrum of finance, accounting, and advisory services.
What national-level trends or challenges in the construction industry do you think our expanded capabilities are best positioned to address?
When it comes to national-level trends in the construction industry, labor continues to be the number one issue we face. While the availability of materials has improved since the peak of the COVID-19 pandemic, we’re now starting to see challenges in the credit market, including banking and bonding. Our expanded capabilities, resulting from the integration of CBIZ and Marcum, are uniquely positioned to address these challenges.
By combining the strengths of two leading firms, we are better equipped to provide timely and efficient service. This means we can swiftly respond to our clients’ needs and ensure that projects stay on track despite the evolving challenges within the industry.
What sets the combined CBIZ/Marcum team apart from other firms supporting the construction industry?
It’s our unparalleled full-service capabilities. No other firm in our industry can match the breadth and depth of services we provide. We pride ourselves on being able to deliver comprehensive solutions whenever our clients come to us with an issue – no matter what they’re facing.
The integration has amplified our ability to address a wide range of needs, from initial project planning and financial advising to risk management and compliance. Our team’s extensive expertise and the expanded resources we have enable us to offer innovative and timely solutions that keep projects moving forward smoothly.
Our commitment to providing tailored, client-focused services ensures that we are always there to support our clients at every stage of their projects. This dedication to excellence and our ability to deliver end-to-end solutions set us apart.
How does the integration enhance our ability to offer cutting-edge solutions for the construction industry, particularly in technology or innovation?
We are excited to integrate Marcum’s expertise in AI, machine learning, robotic process automation, and data analytics with CBIZ’s strengths. Our approach to technology focuses on embracing change and delivering actionable insights that help businesses become more responsive, profitable, and sustainable.
Mid-Atlantic – Marty McCarthy (MM) and Jim McGettigan (JM)
What specific advantages does the integration bring to clients in the Mid-Atlantic region?
MM: The teams at CBIZ and Marcum were widely viewed as the two premier construction accounting practices in the Mid–Atlantic region. Combining these two groups will give clients and prospects in the mid-Atlantic region access to the most knowledgeable and committed construction professionals.
JM: Our clients will gain tremendous insights based on our understanding of the industry and our expansive database of relevant best practices for contractors.
What unique challenges or opportunities do you see for the construction industry in the Mid-Atlantic, and how does our team help navigate them?
MM: As far as challenges, the region faces similar concerns to those facing construction firms and contractors all over the country, including labor and financing issues. Our team can help clients face these issues by providing “outside-the-box thinking” and showing contractors how to overcome problems with unique solutions.
JM: Construction is an industry that requires institutional knowledge. Not every source of good accounting or tax advice can advise on construction. There are too many moving parts. Marcum and CBIZ built reputations on deep industry knowledge. Coming together means we now have even more resources to deliver services that make a difference to our clients in construction.
How does the local knowledge of the Mid-Atlantic team align with the broader resources of CBIZ?
MM: As a group, the construction practice has access to the greater firm’s resources and are able to utilize them to most effectively support clients. Many opportunities exist for contractors and having the ability to source specialized insights concerning cost segregation, R&D and other credits has always made us individually proactive and uniquely valuable to clients. Now, with even more expertise from the CBIZ side, we are stronger still.
JM: With CBIZ and Marcum coming together as one team, the strength of the Mid-Atlantic resources is greatly expanded. We also have a national practice for construction and contracting clients, which offers further construction industry knowledge and experience.
Looking Ahead
What excites you most about the future of CBIZ’s construction practice?
MM: Getting to work with other passionate professionals. We were always respected competitors; now, by combining, our clients will have access to truly the most committed and capable minds in the area.
How do you see the needs of construction clients evolving in the next 3-5 years, and how are we preparing to meet those needs?
MM: Adopting new technology, understanding green building practices, the evolution of modular construction, and enhanced project management practices are all areas of significant change. Each represents opportunity. We are preparing to help clients set new standards by understanding and sharing the benefits of implementing new technology to enhance project planning and collaboration and explaining the benefits of robotics. Adopting and understanding green building and modular construction practices will position contractors to take on high-demand projects in the emerging market. Even traditional firms can enhance their project management practices by understanding and applying the principles of real-time analytics. These things will set contractors apart from their peers.
What’s one message you’d like current and prospective clients to take away about the combined strengths of CBIZ and Marcum?
JM: As the saying goes, we are stronger together, and our clients will see a unified, well-oiled machine that is deeply engaged, passionate, and committed to helping them succeed.