New York-based IPA 100 firm Citrin Cooperman & Company (FY20 net revenue of $315 million) has received a majority investment from New York-based private equity firm New Mountain Capital. The announced partnership, which has been in place for roughly six months, has aided the firm in pursuing a growth strategy that has resulted in the acquisitions of several accounting, technology and advisory companies, with additional deals on the horizon.
“As we got to know New Mountain Capital extremely well over the last 10 years, we knew they were the right strategic growth partner for our firm when the timing made sense,” says Citrin Cooperman CEO Alan Badey. “Our goal has always been to put our clients first, and we are particularly excited about how this partnership will help us enhance our core services, expand new advisory service offerings and develop technology capabilities for even better service to our clients.”
“Citrin Cooperman’s combination with New Mountain Capital will create a national powerhouse,” adds Allan Koltin, CEO of Koltin Consulting Group, who served as exclusive financial adviser on the deal. “New Mountain Capital has a very successful history of working with professional services businesses and will be an amazing strategic and financial partner to Citrin Cooperman.”
