Top 20 accounting firm Citrin Cooperman said on Aug. 12 it has acquired substantially all the assets of Barkin, Perren, Schwager & Dolan (BPSD), a Woodland Hills, CA-based accounting and advisory firm.
Financial terms of the deal weren’t disclosed. BPSD joins Citrin Cooperman with three partners and more than 20 professionals.
This is New York City-based Citrin Cooperman’s second M&A deal since private equity behemoth Blackstone acquired a majority stake in the accounting firm last month from New Mountain Capital, a much smaller private equity firm that announced its investment in Citrin Cooperman in April 2022. That deal marked the first time in the accounting profession that private equity ownership of a CPA firm had been transferred, or flipped, from one investment group to another.
Citrin Cooperman acquired HW&Co., a Woodmere, OH-based accounting and advisory firm, last February.
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The New York City-based accounting firm said the acquisition of BPSD expands its presence in Southern California and enhances its capabilities across key sectors, including entertainment and professional services.
“BPSD is a natural fit for Citrin Cooperman,” Gary Kendall and Aaron Levy, SoCal regional managing partners of Citrin Cooperman Advisors, said in a joint statement. “Their values, culture, and client-first mindset mirror our own. We’re thrilled to welcome such a respected firm and look forward to building an even brighter future together for our professionals and clients.”
Founded more than 50 years ago, BPSD is a full-service tax, accounting, business management, and consulting firm with a strong foothold in the Los Angeles market, a big reason why Citrin Cooperman struck a deal to acquire BPSD.
“Joining Citrin Cooperman marks a new chapter in our firm’s journey,” said Scott Perren, a partner at BPSD. “We’re proud of what we’ve built and excited to expand our reach and resources while continuing to deliver the personalized service our clients expect.”
Citrin Cooperman said this latest transaction reflects its ongoing strategy to grow through targeted acquisitions that align with its culture and expand its geographic and industry footprint. The firm has completed more than 30 acquisitions since 2019.
As is typical for private equity-owned accounting firms, Citrin Cooperman operates in an alternative practice structure. Citrin Cooperman & Co. LLP, a licensed independent CPA firm, provides attest services, and Citrin Cooperman Advisors LLC provides business advisory and nonattest services.
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