Chicago-based IPA 100 firm Baker Tilly (FY24 net revenue of $1.72 billion) announced its intent to acquire Bethel, Conn.-based IPA 400 firm CironeFriedberg (FY23 net revenue of $12.5 million).
“Expanding in the Northeast is a critical step in our long-term growth strategy,” said Fred Massanova, Baker Tilly’s chief growth officer and MP – Eastern U.S. “CironeFriedberg brings a wealth of experience and industry expertise, further solidifying our commitment to this market.”
Tony Cirone, MP of CironeFriedberg, stated, “Joining Baker Tilly is an exciting opportunity for our firm and clients. The expanded reach and additional resources will allow us to provide even greater value and innovative solutions while maintaining the personal service our clients have come to expect.”
This acquisition follows Baker Tilly’s recently announced intent to acquire Hancock Askew, further demonstrating the firm’s commitment to strategic growth across key markets. These acquisitions reflect the momentum generated by Baker Tilly’s private equity investment led by Hellman & Friedman and Valeas Capital Partners, accelerating the firm’s growth strategy and continuing to promise a bright future.
Allan Koltin, CEO of Koltin Consulting, advised on the transaction and highlighted its significance. “CironeFriedberg is known for its strong client relationships and industry expertise,” Koltin said. “Their addition to Baker Tilly enhances the firm’s ability to serve clients across the Northeast with expanded resources and specialized knowledge.”
