Top 20 accounting firm Citrin Cooperman said Thursday it has an agreement in place to buy Gatto, Pope & Walwick, a San Diego-based accounting and advisory firm.
Financial terms of the deal weren’t disclosed. Upon completion of the deal, expected on Dec. 1, Citrin Cooperman will add 10 partners/managing directors and more than 60 professionals from GPW.
The addition of GPW furthers the continued growth of Citrin Cooperman in Southern California where it has completed 12 acquisitions, including four in the San Diego metro area, since January 2019, the New York City-based firm said.
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“At Citrin Cooperman, we believe that great firms are built on great people and meaningful client relationships,” Citrin Cooperman CEO Alan Badey said in a statement on Nov. 6. “From our very first conversations, it was clear that GPW shares our commitment to being trusted advisors, providing the highest level of client service and creating a supportive environment where talented professionals can thrive.”
Founded in 1983, GPW provides a variety of financial services, including assurance, consulting, and tax. The assurance client base includes construction, manufacturing and distribution, escrow and title companies, nonprofit organizations, and employee benefit plans. Tax services are focused on high-net-worth individuals, professional athletes, closely held corporations, and estates and trusts.
“This move is about doing more for the people who trust us most—our team and our clients,” said Tom McFadden, managing partner of GPW. “We were determined to align with a firm that values relationships over transactions, talent over titles, and people over processes. With Citrin Cooperman, we found a partner that shares those values. Our clients will continue to work with the same trusted advisors, now with broader services behind them. Our people will have more opportunities to grow and succeed. We couldn’t be happier.”
Citrin Cooperman has been one of the most active accounting firms making M&A deals in recent years, completing more than 30 acquisitions since 2019, many of them after receiving private equity backing in 2022.
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As is typical for firms that operate in alternative practice structures, the transaction will consist of Citrin Cooperman Advisors LLC acquiring certain non-attest assets and Citrin Cooperman & Company LLP acquiring certain attest assets of GPW.
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