Citrin Cooperman Announces Investment Agreement with Blackstone
$BX
Citrin Cooperman Advisors LLC has announced a significant investment agreement with private equity funds managed by Blackstone (NYSE: BX). The deal includes Blackstone acquiring its stake in the firm from New Mountain Capital, marking a new chapter in Citrin Cooperman’s strategic growth journey. This move highlights the firm’s commitment to expanding its capabilities in tax, advisory, and accounting services.
Founded in 1979, Citrin Cooperman has built a strong reputation for its dedication to client relationships and tailored solutions. Serving more than 15,000 clients globally, the firm has consistently focused on enhancing businesses and personal lives through its professional services. With this investment, it aims to further strengthen its offerings and improve its technology infrastructure.
CEO Alan Badey expressed enthusiasm about the partnership, emphasizing the opportunities it brings for growth and innovation. He stated that the investment would support expanded service offerings and the firm’s commitment to an exceptional client experience. Blackstone representatives praised Citrin Cooperman’s achievements, highlighting its focus on excellence and long-standing leadership in the industry.
New Mountain Capital reflected positively on its partnership with Citrin Cooperman over the past three years. Representatives expressed their gratitude for the collaboration and acknowledged the progress made together during this time. They conveyed optimism for the firm’s future success under Blackstone’s leadership and strategic vision.
Although the financial terms of the transaction have not been disclosed, the deal positions Citrin Cooperman to capitalize on new opportunities. The firm’s plans include leveraging the investment to enhance operational efficiency and address evolving client needs. Key advisers in the transaction include Deutsche Bank Securities and Guggenheim Securities, underscoring the importance of this strategic agreement.
This new partnership represents an important step forward for Citrin Cooperman as it continues to adapt to a rapidly changing industry landscape. With a focus on technological advancements and expanded services, the firm aims to maintain its position as a trusted advisor to businesses and individuals. This collaboration is expected to provide the resources needed to sustain long-term growth and deliver value to its stakeholders.
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