Top 10 Firm CohnReznick LLP has signed a letter of intent to combine with Bethesda, Md.-based Top 100 Firm Watkins Meegan LLC on November 1.
Watkins Meegan brings 13 partners and 200 employees to the combination, as well as annual revenues of approximately $40 million. It has four offices Northern Virginia and Maryland, and a strong focus on government contractors, real estate and construction, and nonprofits and the hospitality industry. CohnReznick has 26 offices along the East Coast, with three in Maryland and Virginia.
“We are very excited about what this combination means for our ability to serve our clients and our employees in the future,” said Watkins Meegan managing partner Michael Micholas in a statement. “All of our clients will benefit from a deeper bench of professionals with diverse technical expertise. And our employees will find greater opportunities for learning and growth as part of a larger organization.” Micholas will remain with the firm as part of the senior management team in the region.
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 CohnReznick co-CEO Tom Marino.
The combined firm is expected to have around $600 million in revenue, 28 offices, almost 300 partners, and over 2,700 employees.
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