Citrin Cooperman and Berdon LLP Join Together, Becoming $600 Million Powerhouse Firm
New York (February 1, 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 Berdon LLP: Founded by David Berdon in 1917, Berdon LLP focuses on providing clients with superior quality tax, accounting, and advisory services. Guided by the mantra of Listen.Solve.Do., the Firm develops innovative solutions that provide support and guidance that empower its clients, its people, and its community and help drive their success. Based in New York City and Long Island, Berdon’s professionals keep to the highest standards, deliver technical excellence, and exhibit professionalism in all that they do. With a teamwork-oriented approach and a culture that fosters innovation, they bring their collective expertise to advise clients – in a wide array of industries and on a variety of matters – to help them achieve their strategic and financial goals.
About Citrin Cooperman: Citrin Cooperman is the fastest growing first generation accounting, tax and consulting firm in the United States. Taking pride in accessibility, objectivity, and working closely with our clients to provide objective, balanced viewpoints to maximize success, Citrin Cooperman’s industry practices consist of teams of professionals dedicated to keeping current with the inner workings of our client’s unique business matters to help ensure they stay ahead of the competition and are informed of any new changes that may be crucial to their business and success. Citrin Cooperman is headquartered in New York City with over 20 offices nation-wide and is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
Citrin Cooperman & Company, LLP, a licensed independent CPA firm that provides attest services, and Citrin Cooperman Advisors LLC, which provides business advisory and non-attest services, operate as an alternative practice structure in accordance with the AICPA’s Code of Professional Conduct and applicable law, regulations, and professional standards. Clients are in all business sectors and leverage a complete menu of service offerings. For more information, please visit citrincooperman.com.