Citrin Cooperman Advisors – a premier tax, advisory, and accounting provider for private middle-market businesses and high-net-worth individuals – announced a definitive agreement for a significant investment from private equity funds managed by Blackstone. Blackstone is acquiring its stake in the firm from New Mountain Capital as part of the transaction.
Citrin Cooperman was launched in 1979 to enhance the businesses and personal lives of its clients, partners, and staff through its services, guidance, and enthusiasm for building long-standing relationships. Now, the firm is a trusted advisor to over 15,000 clients globally through its tax, advisory, and accounting services.
The terms of the transaction were not disclosed. Deutsche Bank Securities is serving as financial adviser, and Kirkland & Ellis and Gibson, Dunn & Crutcher are serving as legal advisers to Blackstone. Guggenheim Securities serves as lead financial advisor to New Mountain and Citrin Cooperman, with Koltin Consulting Group as an additional financial adviser to both parties. Simpson Thacher & Bartlett, Zukerman Gore Brandeis & Crossman, and Hunton Andrews Kurth are serving as legal advisers to New Mountain and Citrin Cooperman.
KEY QUOTES:
“We are excited to have reached an agreement for Blackstone to invest in Citrin Cooperman as we enter our next chapter of growth. Blackstone will help us make additional investments in expanded service offerings and technology as we deliver on our continued commitment to best-in-class firm culture and providing an exceptional client experience. We thank New Mountain for their years of partnership in helping to build and support our business.”
– Alan Badey, CEO of Citrin Cooperman
“The Citrin Cooperman partners and staff have done an exceptional job making the firm a leader through an unwavering commitment to excellence and client service. We are excited to invest in the business to help it continue to provide the highest quality offerings moving forward.”
– Eli Nagler, a Senior Managing Director at Blackstone, and Kelly Wannop, a Managing Director at Blackstone
“We are proud of our successful partnership with Citrin Cooperman, and we thank the management team, partners and staff of Citrin Cooperman for all we have accomplished together over the last three years. We look forward to seeing Citrin Cooperman continue to thrive for the benefit of all its clients and stakeholders.”
– Andre Moura and Nikhil Devulapalli, Managing Directors at New Mountain
