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Citrin Cooperman Expands Presence with Acquisition of Teplitzky & Company
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Subscribe08 OCT 2024 / M&A UPDATES
New York-based professional services firm Citrin Cooperman has agreed to acquire substantially all assets of healthcare-focused accounting and consulting firm Teplitzky & Company. The deal, slated for November 2024, will expand Citrin Cooperman's footprint in New England, adding five partners and over 20 professionals to its workforce and further strengthening its service offerings and presence in the Connecticut market.
Citrin Cooperman, a New York-based firm with FY23 net revenue of $674 million, has announced its agreement to acquire substantially all assets of Teplitzky & Company, a Woodbridge, Conn.-based accounting and consulting firm specializing in the healthcare sector. The transaction is anticipated to close in November 2024.
Alan Badey, CEO of Citrin Cooperman Advisors LLC, expressed enthusiasm about the acquisition, citing Teplitzky's exceptional client service and established relationships in the Connecticut market as a perfect alignment with Citrin Cooperman’s growth strategy in New England. The acquisition will add five partners and over 20 professionals to Citrin Cooperman’s workforce, expanding its footprint in the region.
Jeffrey Teplitzky, Managing Partner at Teplitzky, noted that joining Citrin Cooperman will enhance their ability to serve clients with improved resources while maintaining their personalized approach. Joshua Teplitzky, the firm’s Healthcare and Tax Partner-in-Charge, echoed this sentiment, emphasizing the synergy between their high-net-worth and healthcare practices.
The deal will consist of two acquisitions: Citrin Cooperman Advisors LLC will take over Teplitzky's non attest assets, while Citrin Cooperman & Company, LLP will acquire the attest assets. Founded in 1928, Teplitzky has a long history of providing comprehensive accounting services, including federal and state taxation, auditing, estate planning, and advisory services for medical practices.
Citrin Cooperman, recognized as one of the largest professional services firms in the nation, combines industry expertise with a client-focused approach, employing over 450 partners and 2,800 professionals nationwide. This acquisition is set to enhance their service offerings and solidify their presence in the Connecticut market.
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