Citrin Cooperman and Berdon LLP Join Together, Becoming $600 Million Powerhouse Firm
Citrin Cooperman Advisors LLC (“Citrin Cooperman”), one of the largest and fastest growing professional services firms in the United States, announced today that they have completed their acquisition of the nonattest business of New York accounting, tax, and consulting firm, Berdon LLP (“Berdon”). With the addition of Berdon’s $110 million in revenue and 450 partners and associates, the combined firm anticipates annual revenue will exceed $600 million, handled by a team of over 2,400 professionals.
New York, NY (PRUnderground) February 1st, 2023
Citrin Cooperman Advisors LLC (“Citrin Cooperman”), one of the largest and fastest growing professional services firms in the United States, announced today that they have completed their acquisition of the nonattest business of New York accounting, tax, and consulting firm, Berdon LLP (“Berdon”). With the addition of Berdon’s $110 million in revenue and 450 partners and associates, the combined firm anticipates annual revenue will exceed $600 million, handled by a team of over 2,400 professionals. The combination of the two firms will expand capabilities in their shared core industries including real estate, construction, family office, and manufacturing and distribution while providing and expanding a deep roster of consulting and advisory services for their combined clients.
“This is the combination of what we think are two of the strongest firms in the country,” said Citrin Cooperman Executive Chairman Joel Cooperman and Chief Executive Officer Alan Badey in a joint statement. “We have long admired Berdon and their well-earned reputation for client service and technical expertise. Our values, cultures, and industry niches align perfectly with each other, and we look forward to working closely with the Berdon team.”
Berdon Co-Managing Partners Mark Bosswick and Stuart Kotler shared similar sentiments, “Our team is incredibly excited to be joining Citrin Cooperman and that excitement stems from the clear synergies we see between our two firms and from the fact that we will now be able to offer our clients and personnel a wider array of resources and offerings.” Bosswick will become Citrin Cooperman’s New York Metro Managing Partner and a member of the company’s Board of Managers. Kotler will continue to serve as the managing partner of Berdon, which will continue to provide attest services to its clients and operate in an alternative practice structure with Citrin Cooperman.
Andre Moura, managing director of New Mountain Capital, which acquired a controlling interest in Citrin Cooperman in October of 2021, said; “The combination with Berdon represents an important milestone in New Mountain’s strategic growth partnership with Citrin Cooperman. Berdon brings a unique expertise and a strong reputation in the market and the combined firm will have greater technical capabilities, technology, and scale to better serve its clients. New Mountain Capital is excited to work with Citrin Cooperman as the firm continues its growth trajectory.”
Berdon marks Citrin Cooperman’s tenth transaction in the past 15 months, growing their revenue by over $200m and establishing new offices in Chicago, Miami and Beverly Hills. Allan Koltin, CEO of Koltin Consulting Group, Inc., and an advisor to both groups on the combination, commented, “Berdon was sought after by almost every major CPA and advisory firm in the country but chose Citrin Cooperman as the best strategic and cultural fit. Berdon’s leadership saw great growth opportunities for their talent and increased abilities to provide expanded depth and resources for their clients. Citrin Cooperman’s relationship with New Mountain Capital is transforming an already great firm into an amazing ‘firm of the future’. Their combined strategy is a rather simple one – grow your people, grow your clients, and everything else will follow.”
Effective today, Berdon’s nonattest business is a wholly owned subsidiary of Citrin Cooperman.
About Citrin Cooperman
Citrin Cooperman is one of the nation’s largest professional services firms, helping companies and high net worth individuals find smart solutions. Whether your operations and assets are located around the corner or across the globe, we can provide new perspectives on strategies that will help you achieve your short- and long-term goals.