Top 20 accounting firm Citrin Cooperman is expanding its presence in Connecticut and New England by acquiring Teplitzky & Co., a Woodbridge, CT-based accounting, consulting, and tax firm specializing in the healthcare industry, effective next month.
Financial terms of the deal weren’t disclosed. Teplitzky will join the Citrin Cooperman alternative practice structure with five partners and more than 20 professionals.
As is typical for accounting firms that operate in alternative practice structures, the transaction will consist of two acquisitions: Citrin Cooperman Advisors will acquire Teplitzky’s nonattest assets, while Citrin Cooperman & Co. will acquire Teplitzky’s attest assets.
Citrin Cooperman moved to an alternative practice structure after receiving a private equity investment from New Mountain Capital in April 2022.
“We are thrilled to add the preeminent healthcare accounting firm in the state of Connecticut to the Citrin Cooperman family,” Citrin Cooperman Advisors CEO Alan Badey said in a statement. “What struck us most about Teplitzky is the team’s long history of exceptional client service and deep-rooted relationships in the Connecticut market, which is a perfect fit for our firm and growth strategy in the state and broader New England region. The Teplitzky partners and staff exemplify the culture at Citrin Cooperman, and we are thrilled to have them join the firm.”
Teplitzky & Co. has been working with companies, medical practices, and individuals since 1928. The accounting firm was originally established by Lewis Sagal and reconstituted in 1964 after a merger with Earle E. Jacobs to become known as Sagal, Jacobs & Co. In 1989 the firm changed to its current name, Teplitzky & Co. P.C., and continues to provide services in the areas of state and federal taxation, general tax services, auditing, estate planning, medical management advisory, plan administrating, and computer consulting.
“Joining Citrin Cooperman broadens our ability to provide our clients with enhanced services and resources without sacrificing our personalized, hands-on approach,” said Teplitzky Managing Partner Jeffrey Teplitzky.
Joshua Teplitzky, healthcare and tax partner-in-charge at Teplitzky, added, “We are excited to join our healthcare and high-net-worth client practice with Citrin Cooperman to continue to deliver excellent services to our clients.”
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