What's Happening?
Citrin Cooperman, a prominent accounting firm, is acquiring Ostrow Reisin Berk & Abrams Ltd. (ORBA), a Chicago-based firm, as part of its strategic expansion in the Midwest. This acquisition will integrate ORBA's 15 partners and over 150 professionals into Citrin Cooperman, enhancing its capabilities in various industries. The deal, expected to close in October, marks a significant investment in the Chicago market, following Citrin Cooperman's private equity funding.
Why It's Important?
The acquisition is a strategic move to bolster Citrin Cooperman's presence in the Midwest, a region with diverse economic activities. By integrating ORBA's expertise, Citrin Cooperman aims to offer enhanced services to clients in manufacturing, real estate, and other sectors. This expansion reflects the firm's growth strategy and its ability to leverage private equity investments for regional dominance.
What's Next?
Upon completion of the acquisition, Citrin Cooperman will focus on integrating ORBA's operations and personnel to maximize synergies. The firm may explore further acquisitions to strengthen its market position and expand its service offerings. Clients can expect improved service delivery and access to a broader range of expertise.
