In a combination of Gotham giants, New York-based IPA 100 firm Citrin Cooperman & Company (FY21 net revenue of $351.8 million) has acquired the non-attest assets of New York-based IPA 100 firm Berdon LLP (FY21 net revenue of $132.5 million). The combined firm boasts a team of more than 2,400 professionals.
“This is the combination of what we think are two of the strongest firms in the country,” said Citrin Cooperman CEO Alan Badey and executive chairman Joel Cooperman 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.”
Founded in 1917, Berdon provides tax, accounting and advisory services to clients in a wide variety of industries, including manufacturing and distribution, real estate, construction and family offices. As part of the deal, Berdon co-MP Mark Bosswick will become Citrin Cooperman’s New York Metro MP and a member of the company’s board of managers, while co-MP Stuart Kotler will continue to serve as MP of Berdon, which will continue to provide attest services to its clients and operate in an alternative practice structure with Citrin Cooperman.
“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,” said Bosswick and Kotler.
“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,” added Allan Koltin, CEO of Koltin Consulting Group, who advised both groups on the combination. “Berdon’s leadership saw great growth opportunities for their talent and increased abilities to provide expanded depth and resources for their clients.”