CohnReznick Expands Texas Footprint with HLB Gross Collins Acquisition

Introduction

CohnReznick LLP, a leading national accounting, tax, and advisory firm, has made a significant move in the lower middle market by acquiring HLB Gross Collins, P.C. This acquisition not only strengthens CohnReznick's presence in Texas but also enhances its capabilities to serve clients in the Southeast region more effectively.

Deal Summary

The acquisition of HLB Gross Collins, P.C., a full-service accounting firm headquartered in Atlanta, Georgia, marks a strategic milestone for CohnReznick. HLB, which specializes in audit, tax, and consulting services for middle-market companies, brings a wealth of experience and a solid reputation in various sectors, including healthcare, real estate, and manufacturing. The transaction is effective immediately, with HLB's team integrating into CohnReznick's existing operations in Texas.

David K. M. A. K., CEO and Managing Partner of CohnReznick, expressed enthusiasm about the acquisition, highlighting HLB's established presence and client relationships in Texas. Meanwhile, Mike G., Managing Partner at HLB, noted that joining CohnReznick will allow their team to leverage the firm's extensive resources to deliver greater value to clients.

Buyer Profile

CohnReznick is one of the foremost advisory, tax, and accounting firms in the United States, with a strong national and international presence. The firm caters to a diverse client base across sectors like real estate, construction, healthcare, and technology, providing tailored solutions to meet unique business challenges.

In the past six months, CohnReznick has also completed several notable transactions, including:

• Acquisition of a regional consulting firm specializing in technology solutions to enhance service offerings in the tech sector.
• Partnership with a healthcare advisory firm to expand its footprint in the healthcare industry.
• Strategic investment in a real estate consultancy to bolster its services in the real estate market.

These transactions reflect CohnReznick's commitment to growth and its strategic focus on enhancing service capabilities through targeted acquisitions.

Conclusion

The acquisition of HLB Gross Collins is a strategic move for CohnReznick that positions the firm to enhance its service offerings and client relationships in Texas. As consolidation trends continue within the accounting sector, this deal highlights the importance of geographical expansion and service capability enhancement for firms looking to thrive in a competitive market.