New York-based accounting firm Citrin Cooperman has acquired its second Philadelphia-area firm, Matarazzo Goldis.
The deal to buy the firm, which is based in Narberth, Pa., just outside of Philadelphia, comes a year after Citrin's acquisition of Philadelphia-based Yampolsky Mandeloff Silver Ryan (see Citrin Cooperman Combines with Four Firms).
The deal went into effect on November 1. Financial terms were not disclosed. As part of the deal, Matarazzo Goldis managing partner Stanley Goldis is joining Citrin Cooperman as a partner, along with two directors, one manager and one administrator. Matarazzo Goldis brings in revenues of $1.5 million. The firm focuses on serving small entrepreneurial businesses throughout the Philadelphia metropolitan area.
"We saw them as a good fit for us strategically," said Citrin Cooperman managing partner Joel Cooperman (pictured). "We felt they were very good, professional people and we felt they would go a long way to expanding our tax space in Philly." All of the Matarazzo Goldis employees have already moved into Citrin Cooperman's offices, he noted.
With the deal, Citrin will expand to 75 partners and $82 million in estimated revenue. The firm ranks 31st on Accounting Today's 2008 list of the Top 100 Firms.
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