What's Happening?
Citrin Cooperman, a prominent accounting firm ranked No. 17 on Accounting Today's 2025 list of the Top 100 Firms, has acquired Barkin, Perren, Schwager & Dolan LLP (BPSD), a firm based in Woodland Hills, California. This acquisition significantly expands Citrin Cooperman's presence in Southern California, adding three partners and over 20 professionals to its team. The financial terms of the deal have not been disclosed. Citrin Cooperman, known for its client-first approach, sees BPSD as a natural fit due to shared values and culture. BPSD has been operating for over 50 years and has established a strong foothold in the Los Angeles market.
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Why It's Important?
The acquisition of BPSD by Citrin Cooperman is a strategic move that enhances the firm's capabilities and reach in the competitive Southern California market. This expansion is part of Citrin Cooperman's broader growth strategy, which has included over 30 acquisitions since 2019. The firm's ability to integrate new partners and professionals strengthens its service offerings and client base, potentially increasing its market share and influence in the region. The acquisition also reflects the ongoing trend of consolidation in the accounting industry, driven by the need for firms to scale operations and enhance service delivery.
What's Next?
Following the acquisition, Citrin Cooperman is expected to focus on integrating BPSD's operations and personnel into its existing framework. This integration will likely involve aligning business practices and client services to ensure a seamless transition for BPSD's clients. Citrin Cooperman may continue to pursue further acquisitions to bolster its market position and expand its geographic footprint. Stakeholders, including clients and employees, will be closely monitoring the integration process and the firm's future growth initiatives.
Beyond the Headlines
The acquisition highlights the increasing role of private equity in the accounting sector, as evidenced by Citrin Cooperman's previous funding from New Mountain Capital and subsequent majority stake acquisition by Blackstone. This trend may lead to more aggressive growth strategies and competitive dynamics within the industry, potentially affecting smaller firms and independent practitioners.
