Citrin Cooperman expands into Ohio with HW&Co. acquisition

Citrin Cooperman, a New York-headquartered accounting and consulting firm, has acquired HW&Co., a Cleveland-based accounting and consulting firm.

Founded in 1990, HW&Co. has 14 partners and over 140 employees across five Ohio offices. The firm provides audit, tax, and business consulting services to clients in healthcare, nonprofit, real estate, manufacturing and distribution, and agriculture.

The acquisition will expand Citrin Cooperman’s physical presence into Ohio. The firm has 2,800 professionals across 27 offices nationwide.

“We are thrilled to welcome HW&Co. into the Citrin Cooperman family," said Alan Badey, CEO of Citrin Cooperman Advisors LLC. "Their strong reputation in the Midwest and dedication to client success make them an excellent fit for our firm. This acquisition allows us to expand our footprint and enhance the services we offer to our clients."

Because the private equity-owned firm has an alternative practice structure, Citrin Cooperman Advisors LLC will acquire the non-attest assets and Citrin Cooperman & Company LLP will acquire the attest assets of HW&Co.

Koltin Consulting Group, an M&A consulting specialist focusing on financial and professional services firms, advised both sides on the transaction.

"We share a common culture of excellence and a commitment to delivering exceptional value. Together, we will continue to provide the personalized service our clients expect, now with access to a broader range of resources and expertise," said Brandon Miller, president and CEO of HW&Co., and new managing partner of Citrin Cooperman's Ohio offices.

A Blackstone-led group of investors in January announced the acquisition of a majority stake in Citrin Cooperman, valuing the accounting firm at over $2 billion. The deal will see New Mountain Capital exit its majority stake in the firm, which it acquired in October 2021.