Coming on the heels of the acquisitions of a CPA firm in Chapel Hill, NC, and a New York City-based business software consulting firm, top 25 accounting firm Citrin Cooperman on Feb. 1 picked up Keefe McCullough & Co. (KMC), a full-service tax, attest, and business advisory firm based in Fort Lauderdale, FL.
Financial terms of the deal weren’t disclosed. KMC joined Citrin Cooperman with 11 partners, more than 75 employees, and over $15 million in revenue. The firm’s Fort Lauderdale location will join Citrin Cooperman’s offices in the Miami metro area, according to a news release.
“We are thrilled to welcome the KMC partners and staff to Citrin Cooperman. In concert with our Miami office, we look forward to continuing to build our Florida operations where we now have over 150 dedicated professionals serving a wide diversity of corporate and individual clients. What attracted us to KMC was their commitment to their staff, clients, and to each other, all qualities that we at Citrin Cooperman hold dear,” Citrin Cooperman Executive Chairman Joel Cooperman and CEO Alan Badey said in a joint statement.
KMC has provided comprehensive accounting, advisory, consulting, and planning services to governmental, educational, nonprofit, and general accounting clients throughout South Florida since 1971.
Feb. 1 is a special day in the firm’s history, according to KMC Managing Partner Louis Proietto.
“We joined Citrin Cooperman exactly 53 years to the day KMC was formed on Feb. 1, 1971. It feels like a momentous step in expanding the resources and solutions we can offer to our clients and an incredibly exciting opportunity for our leadership and employees,” he said. “The synergies between our industry expertise and our shared client-centered approach make this an exciting next chapter for our team.”
Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the acquisition, said KMC was highly sought after by other firms looking to grow in South Florida.
“KMC was sought after by numerous companies and chose Citrin Cooperman primarily for the great growth opportunities the firm will provide for their people and the additional resources and depth of knowledge and experience that they can now offer to their clients,” he said.
“Citrin Cooperman continues their rapid expansion throughout South Florida with another best-in-class firm. Now that Citrin Cooperman has firmly established itself in South Florida, I wouldn’t be surprised to see them expand into some of the northern Florida markets like Orlando and Tampa next,” Koltin added.