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Firm Management

Citrin Cooperman Acquires S&G

Five partners and more than 30 professionals from Worcester, MA-based S&G have joined the top 25 CPA firm and its advisory entity.

Top 25 accounting firm Citrin Cooperman has acquired S&G LLP, a Worcester, MA-based assurance, tax, and advisory firm.

Financial terms of the deal weren’t disclosed. The New York-based CPA firm acquired the attest assets of S&G, while Citrin Cooperman Advisors acquired S&G’s remaining assets. S&G joins Citrin Cooperman with five partners and more than 30 professionals, expanding the firm’s presence in the New England region.

After receiving private equity funding from investment firm New Mountain Capital in April 2022, Citrin Cooperman began an alternative practice structure in which Citrin Cooperman & Co. operates as a CPA firm providing attest services to clients, while Citrin Cooperman Advisors provides clients with business advisory and non-attest services, including tax.

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“S&G’s strong middle-market presence, client-centric focus, industry depth and deep commitment to culture and its people are highly aligned with Citrin Cooperman’s core principles and strategic approach,” Citrin Cooperman Advisors CEO Alan Badey and Citrin Cooperman Advisors Executive Chairman Joel Cooperman said in a joint statement. “We are excited to expand our footprint in New England and are delighted to welcome this amazing group of partners and professionals to our firm.”

Founded in 1980 by Terence Shepherd and Carl Goldstein, S&G provides a host of consulting and accounting services for middle-market and family-owned enterprises, including business advisory, assurance, and tax.

“S&G’s culture of team, personal service focus, and inspiring a positive difference in our clients’ lives is totally in sync with Citrin Cooperman’s culture, making the decision to join forces an easy one,” Shepherd and Goldstein said in a joint statement. “We are very excited by the compelling impact this shared commitment will have for our clients, partners, and team members.”

Since receiving private equity funding, Citrin Cooperman has made several significant acquisitions, including top 150 firm Untracht Early in August 2022, top 50 firm Berdon in February 2023, and top 200 firm Gettry Marcus last November. Its most recent acquisition was adding White Plains, NY-based CPA firm Maier Markey & Justic in May.

“Citrin Cooperman’s ongoing execution of its growth strategy, including integration of well-respected firms like S&G, continues to position the firm at the forefront of the profession,” said Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the transaction. “With its transactions with S&G, Citrin Cooperman has brought on another best-in-class firm with highly sought after people and clients, providing great value and opportunities for all involved.”