Citrin Cooperman acquires Untracht Early

Jessica Perry//August 2, 2022

Citrin Cooperman acquires Untracht Early

Jessica Perry//August 2, 2022

Earlier this year, Accounting Today dubbed Florham Park’s Untracht Early a “firm to watch” in 2022. That distinction has proven even more prescient, following the firm’s acquisition.

Professional services firm Citrin Cooperman announced Untracht Early and its 150 partners and staff are now part of the New York-based buyer’s team, effective Aug. 1. Financial terms of the deal were not disclosed.

Tracy Early
David Untracht

“Joining a firm that has the same goals, the same mindset, the same core values, and a similar culture and approach to high-touch client service is an ideal match,” co-founders David Untracht and Tracey Early said in a joint statement. “Having grown from a firm of four people to a firm of over 150, it is exciting to be taking the next step by joining a firm of 1,600 which expands the breadth of services and resources we can now offer to our clients. Our team is eager to explore all the opportunities Citrin Cooperman brings to the table.”

The Untracht Early team specializes in alternative investments and tax and business solutions, primarily for the financial services industries. The firm also has expertise with high-net-worth individuals and their families and businesses.

According to Citrin, Untracht Early’s hedge fund and alternative investment work aligns with its own established financial services practices.

“We are excited to welcome the incredible people and skills of the Untracht Early team,” said Citrin Cooperman CEO Alan Badey in a statement. “Their deep expertise along with their strong relationships expands our capabilities in a truly impactful way.”

Added Citrin Cooperman Executive Chairman Joel Cooperman: “I have watched the impressive growth of Untracht Early for the past two decades. Tracey, David, and their partners have done a remarkable job building their firm and its reputation. Besides their technical skills, Tracey, David, and many of their people will play a significant role in our firm’s leadership.”

Room to grow

Citrin Cooperman has offices across 11 states in addition to a presence in India. In New Jersey, beyond Untracht Early’s Morris County location, Citrin Cooperman also has an office in Livingston. And the firm is on the growth path.

In April, investment firm New Mountain Capital announced a majority investment in the firm, which at the time had more than $35 billion in assets under management, 15,000 clients, more than 250 partners and 1,300 employees. The deal, New Mountain said, would help to drive organic and acquisition-led growth at Citrin Cooperman.

“I am thrilled about the number of accounting firms across the United States and abroad that have reached out to us, and I expect the next several years to be exciting,” Cooperman said at the time.

The non-attest assets of Untracht Early will join Citrin Cooperman Advisors LLC. Concurrent with this transaction, the attest assets of Untracht Early will join Citrin Cooperman & Co. LLP.

“It’s really a wonderful opportunity for both Citrin Cooperman and Untracht Early,” said Koltin Consulting Group CEO Allan Koltin, who advised both firms on the deal. “I have worked with both firms for years and their cultures, people, and dedication to excellence are perfectly matched. I am very confident they will accomplish great things together.”