New Mountain Capital takes majority stake in Citrin Cooperman
Context
New Mountain Capital acquired a majority stake in Citrin Cooperman, marking a historic shift for the firm from a traditional partnership to a PE-backed growth model. The strategic partnership was designed to provide the financial and technological resources needed to accelerate both organic growth and a massive consolidation program. In the first six months following the investment, the firm successfully closed five strategic acquisitions, expanding its geographic footprint and diversifying into specialized technology and advisory services. The deal served as a catalyst for Citrin Cooperman to evolve into a fully developed financial services platform.
Citrin Cooperman, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.
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Target
Citrin Cooperman is one of the top 20 largest accounting and professional services firms in the US. It provides a comprehensive range of tax, accounting, and advisory services to middle-market businesses and high-net-worth individuals. The firm operates under an "alternative practice structure" to separate its non-attest services (advisory/tax) from its audit business to comply with regulatory independence requirements. With over 2,800 employees and 250+ partners, the firm has seen massive growth via an aggressive "buy-and-build" strategy, completing over 15 acquisitions between 2021 and 2024.
Ent. Value
$500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (USD)
Other operations with Citrin Cooperman
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2025 | BLACKSTONE | CITRIN COOPERMAN | UNITED STATES | Accounting & Audit |
Other operations with New Mountain Capital
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2025 | NEW MOUNTAIN CAPITAL | WIPFLI | UNITED STATES | Accounting & Audit |
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REFERENCES
Valuation range: EV $500M–1.5bn
Revenue range: $250–500M
EBITDA range: $25–50M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Citrin Cooperman by New Mountain Capital are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: citrin cooperman
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