Citrin Cooperman, a High 25 Agency based mostly in New York, accomplished the acquisition of Kingston Smith Barlevi, a Los Angeles-based agency that specialised within the media and leisure industries, efficient July 1.
Monetary phrases of the deal weren’t disclosed. KSB will add two companions to Citrin Cooperman who will be a part of Citrin Cooperman’s enterprise administration and household workplace staff, offering personal shopper companies. Citrin Cooperman ranked No. 23 on Accounting Right now’s 2022 record of the High 100 Corporations, with $350 million in annual income.
Citrin Cooperman can have greater than 200 staff in Southern California after the deal, with about half of them dedicated to leisure and the remainder offering companies to a big various company shopper base.
“Our development in California has been substantial and we now have been lucky to hitch with so many proficient professionals in such a brief time frame.” stated Citrin govt chairman Joel Cooperman in a press release Wednesday. “We’ve been servicing purchasers in media and leisure for over 40 years, and we’re excited to have KSB be a part of on this key trade sector.”
Citrin Cooperman workplaces in Fairfax, Virginia
Citrin Cooperman has been doing a variety of merger offers since receiving a considerable funding from the personal fairness agency New Mountain Capital final yr that gave it a majority curiosity within the agency (see story). The transfer prompted Citrin Cooperman to separate off its non-attest aspect into Citrin Cooperman Advisors LLC, whereas the attest aspect is named Citrin Cooperman & Co. LLP. In April, Citrin added McNulty & Associates, Inc., a consulting agency in Westford, Massachusetts. In March, Citrin merged in Appelrouth, Farah & Co. PA, in Coral Gables, and Bloom, Gettis & Habib PA, in Miami, and music trade consultancy Massarsky Consulting in New York. Final November, Citrin added OLC Administration Inc., a California-based enterprise administration agency within the leisure trade.
The KSB acquisition will additional increase Citrin’s presence within the California leisure trade. Each Citrin and KSB have recognized one another by way of their membership within the Moore North America community of accounting companies. KSB’s former mum or dad agency was often known as Moore Kingston Smith.
“We’re very excited to hitch a agency that’s already a pacesetter within the leisure world,” stated KSB associate Steve Barlevi in a press release. “We’ve recognized lots of the companions at Citrin Cooperman for a few years by way of our mutual membership with Moore, and we significantly respect what they’ve achieved.”
Citrin sees advantages from bringing KSB into the fold. “The KSB staff have an unbelievable pulse on the media and leisure industries,” stated Citrin Cooperman CEO Alan Badey in a press release. “Their deep relationships, expertise, and specialties dovetail completely with our personal and we very a lot sit up for having them aboard as we proceed to increase our footprint all through California.”
“With the assist and sources of Citrin Cooperman, the KSB purchasers shall be actually gaining full-service capabilities,” stated Moore Kingston Smith chairman Graham Tyler, a former associate at KSB, in a press release. “To have the ability to deliver these new companies to those purchasers is one thing we’re actually enthusiastic about. By our mutual relationship with Moore, we all know this transaction will give us the flexibility to offer deeper companies to our respective purchasers.”