Citrin Cooperman buys Clearview Group

Citrin Cooperman, a Top 25 Firm based in New York, is acquiring most of the assets of the Clearview Group, a management consulting and CPA firm based in Owings Mills, Maryland, in the Baltimore area, its second acquisition in two days.

Citrin has been doing a string of acquisitions since receiving private equity funding in 2021 from New Mountain Capital. It sees the latest deal as a transformative one, strengthening its presence in the Mid-Atlantic region and enhancing its capabilities in risk advisory, state and local tax, and technology solutions and implementation. The deal will add 10 partners and over 150 professionals to Citrin.

Financial terms of the deal were not disclosed. Citrin Cooperman ranked No. 18 on Accounting Today’s 2024 list of the Top 100 Firms, with $700 million in annual revenue, more than 450 partners and over 2,800 employees.  

“We could not be happier to add a firm like Clearview Group to the Citrin Cooperman family,” said Citrin Cooperman Advisors LLC CEO Alan Badey in a statement Thursday. “Clearview Group’s ability to expand our service offering and offer up-market solutions to our client base will allow us to continue to help our clients Focus on What Counts. Clearview Group’s focus on a strong culture and technical excellence will fit perfectly with Citrin Cooperman.”

Since receiving private equity funding, Citrin has adopted an alternative practice structure with a split between the attest and non-attest sides. As with several of its deals involving other CPA firms, the transaction will consist of two acquisitions: Citrin Cooperman Advisors LLC will acquire the non-attest assets of Clearview Group, Inc. while Citrin Cooperman & Company, LLP will acquire the attest assets of BD & Co., Inc., Clearview’s licensed CPA firm. The deal is expected to close later this month.

“We are thrilled to be joining Citrin Cooperman,” said Clearview Group CEO Brian Davis in a statement. “With Citrin Cooperman’s expansive geographical presence and impressive suite of world-class professional services and industry insights, this transaction enables us to expand the reach of our industry-leading risk and enterprise solutions to continue to provide clear solutions to the complex problems large corporations are facing in today’s ever-evolving market conditions.”

On Wednesday, Citrin announced the acquisition of Signature Analytics, a San Diego-based outsourced accounting and advisory firm. Earlier this year, the firm acquired Teplitzky & Co.,  an accounting, consulting and tax firm that specializes in the health care industry based in Woodbridge, Connecticut; S&G, an assurance, tax and advisory firm based in Worcester, Massachusetts; Maier Markey & Justic, a provider of outsourced accounting, controllership, CFO, human resources and taxation services  in White Plains, New York; Keefe McCullough & Co., a tax, attest and business advisory firm based in Fort Lauderdale, Florida; Mibar, a business software consulting firm in New York; and Coleman Huntoon & Brown, in Chapel Hill, North Carolina. Last year, it added Gettry Marcus, a Regional Leader based in Woodbury, New York; FMT Consultants, a California-based consulting firm; and Berdon, a Top 50 Firm based in New York. In 2022, Citrin acquired Murray Devine Valuation Advisors, an independent advisory firm headquartered in Philadelphia; Untracht Early, in Florham Park, New Jersey; Shepard Schwartz & Harris in Chicago; Kingston Smith Barlevi in Los Angeles; McNulty & Associates in Westford, Massachusetts; Appelrouth, Farah & Co. in Coral Gables, Florida; Bloom, Gettis & Habib in Miami; as well as music industry consultancy Massarsky Consulting in New York. In 2021, it added OLC Management, a California-based business management firm.