The private equity giant, managing $1 trillion in assets, is purchasing the stake from New Mountain Capital, Citrin Cooperman's previous majority owner. The deal reportedly values the firm at approximately 15 times its EBITDA, up from the 11 times multiple when New Mountain initially acquired it. The investor group, which includes smaller stakeholders, will hold over two-thirds of Citrin Cooperman, keeping Blackstone's stake below 50% to address regulatory concerns over the firm's audit independence. An official announcement is expected later today, the media outlet said. Citrin Cooperman was founded in 1979 with a mission to enhance the businesses and personal lives of its clients, partners, and staff through its services, guidance and enthusiasm for building long-standing relationships. The firm is a trusted advisor to more than 15,000 clients globally through its tax, advisory and accounting services. Alan Badey, CEO of Citrin Cooperman, said: 'We are excited to have reached an...
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