Centri Business Consulting, a Regional Leader based in Philadelphia, has secured a $20 million credit facility from Citizens Financial Group, which it plans to use for acquisitions and talent.
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Centri said Tuesday the funds would be used for the next phase of its strategic growth plan, focusing on acquisitions and talent investments at every level, including key leadership and partner hires, across each market in which the firm operates. The capital will also support the continued development of Centri’s service offerings, capabilities and geographic expansion.
“Partnering with Citizens on this facility is a reflection of where Centri stands today and the direction in which we’re headed,” said Centri CEO and managing partner Michael Aiello in a statement Tuesday. “It gives us the financial resources to keep building the way we always have, with intention and an unrelenting focus on quality. With this capital in place, we are better positioned than ever to bring the right people into the firm, pursue acquisitions that deepen our capabilities, and continue delivering at the highest level for our clients across the country and around the world.”
Centri ranked No. 19 on Accounting Today‘s Regional Leaders list of the Top Firms in the Mid-Atlantic, with $48.85 million in annual revenue, 16 partners, 180 employees and eight offices in Philadelphia, New York, Raleigh, Tampa, Atlanta, Boston, Denver and Tysons Corner, Virginia. The firm was founded in 2011.
“Working with the Citizens team to get this deal across the finish line was collaborative and seamless through every stage of the process,” said Centri CFO and partner Stephan Parico in a statement. “They came in with a clear understanding of our vision and growth trajectory, and we couldn’t have asked for a better partner on a transaction of this significance.”
Citizens is a commercial bank that operates across the U.S. and serves clients ranging from middle-market companies to large corporations.
“Centri has built something genuinely unique in the advisory space, and the firm’s track record across capital markets and high-growth sectors speaks for itself,” said Daniel Fitzpatrick, president of the Mid-Atlantic and Midwest regions at Citizens, in a statement. “Citizens looks forward to a strong relationship as Centri’s strategic and financial banking advisor.”
