CohnReznick Acquires Top 100 Accounting Firm

CohnReznick LLP, one of the largest accounting, tax, and advisory firms in the U.S., and the Maryland accounting, tax, and consulting firm of Watkins Meegan LLC, have completed the process of merging the firms uner the CohnReznick name.

This brings added bench strength to both firms, bolsters CohnReznick’s position as a leading firm in the Washington-Metro area, and allows for the geographic expansion of Watkins Meegan’s Government Contractors Practice. With the combination, CohnReznick estimates Firm-wide 2014 revenues of $575 million.

Founded in 1975, Watkins Meegan has 200 employees with 13 partners and is ranked among the top 100 firms in the country with revenues of approximately $40 million. With offices in Bethesda, Tysons Corner, Herndon, and Annapolis, the firm has considerable strength in serving government contractors, the real estate and construction industries, as well as the not-for-profit and hospitality industries. Mike Micholas, Watkins Meegan’s Managing Partner, will now serve as Co-Regional Managing Partner—Mid-Atlantic for CohnReznick along with Gary Perlow.

CohnReznick now has offices in 28 cities, including five in the D.C.-Metro area that are home to 800 employees. Firm-wide headcount is now 2,750 with nearly 300 partners. Its national resources include dedicated industry practices, specialized assurance, tax, and advisory services, and global reach through Nexia International. The Firm is also an award-winning workplace recognized for its women’s program, flexibility, dedicated learning and development department, and community service initiatives.

“In moving forward as CohnReznick, we are very excited about our ability to serve our clients and our employees now and in the future,” said Micholas. “CohnReznick’s formidable Commercial Real Estate, Construction, Not-for-Profit, and Hospitality Industry Practices, as well as their expertise in private equity and capital formation advisory services, will provide valuable resources to our clients. And our employees will find greater opportunities for learning and growth as part of a larger organization.”

Ken Baggett, Co-CEO of CohnReznick stated, “We are continually looking at quality firms whose specialties complement our own. Watkins Meegan is a firm we have known for a number of years and have admired from a distance. We are very pleased about the synergies created by this combination.”

“Both firms sought a partner with the same core values, particularly a commitment to technical excellence and superior client service. When you have that, along with complementary experience and expertise, you know you will make a positive impact on your clients, your employees, and your community,” added Tom Marino, Co-CEO of CohnReznick.

This is the second combination of the year for CohnReznick. Boston-based Ercolini & Co. joined the Firm in July, doubling the size of the Boston office. Complementing organic growth through strategic combinations as well as key lateral hires will continue to be part of the Firm’s growth strategy in the year ahead.