US-based assurance, tax, and business advisory firm Cohen & Company has announced an investment from private equity firm Lovell Minnick Partners (LMP) to expand services and technology.
The investment aims to support the firm’s expansion and technological advancements, catering to the evolving needs of its clients in various key industries and regions.
Cohen & Company intends to advance its strategic plan focused on growth, people, technology, quality, and service area interests of its clients.
Cohen & Company CEO Chris Bellamy said: “LMP will be a valuable strategic partner, offering a unique perspective on our industry and the clients we serve, along with a dedicated focus on human capital, which is crucial to our growth strategy as an employer of choice.
“We are proceeding with conviction into this new chapter, motivated to work harder than ever for our stakeholders — our clients, our employees and our communities — to honor their trust in us and deliver value to these critical relationships.”
LMP’s investment marks Cohen & Company’s first institutional investment. The deal is expected to close on 31 December 2024.
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The advisory firm anticipates a significant increase in the number of employee equity holders following the transaction’s completion.
Post-investment, Cohen & Company will adopt an alternative practice structure.
Legal counsel for Cohen & Company was provided by Hunton Andrews Kurth, while Sidley Austin represented LMP in the transaction.
LMP partner Jason Barg said: “Cohen & Company’s vision for the future and its longstanding reputation as a premier accounting, tax and advisory firm make them an ideal partner.”
