Citrin Cooperman, a Top 25 Firm based in New York, has added OLC Management Inc., a California-based business management firm in the entertainment industry.
As part of the deal, OLC founding members David Leventhal and Marc Rottenberg will join Citrin Cooperman as partners, along with 12 other staffers. OLC specializes in providing business management and tax services to prominent Hollywood entertainers. Initially, Citrin will retain OLC’s Beverly Hills location, making it the fifth Southern California office for Citrin. The firm plans to begin consolidating the Beverly Hills offices next year.
“David, Marc, and their staff are great additions to our firm and I am thrilled they agreed to join us,” said Citrin Cooperman executive chairman Joel Cooperman in a statement Monday. “We are continuing to build our entertainment business on both coasts and we expect our total 2022 entertainment revenues to exceed $35 million.”
Financial terms of the deal were not disclosed. Citrin Cooperman ranked No. 23 on Accounting Today’s 2021 list of the Top 100 Firms. Citrin Cooperman earned annual revenue of $360 million, while the annual revenue for OLC is $4.2 million. Citrin now has 250 partners, in addition to 1,000 staff members.
OLC’s clients include some famous entertainers. The group provides concierge-style, full-service business and personal financial management services, including complex tax planning and preparation. The firm’s advisors work with clients on complex international and multi-state tax issues as well as strategies for long-term wealth preservation.
“We’re excited to be joining Citrin Cooperman,” Leventhal said in a statement. “The decision to join a larger firm was made only after significant due diligence and consideration. Citrin Cooperman provides the best resources and talent in the market, which is why we selected it as the best possible home for our clients and team.”
“We immediately knew Citrin Cooperman was the right fit for our clients and our team,” Rottenberg said in a statement. “The combination of Citrin Cooperman’s culture, talent, and resources is truly unmatched in the industry. I’m looking forward to being able to take advantage of the cutting-edge technology and resources and offer our clients the extensive list of specialty offerings Citrin Cooperman has developed.”
Koltin Consulting Group CEO Allan Koltin arranged the deal. “OLC’s entertainment focus made them the perfect match for Citrin Cooperman, a firm that has dominated in the entertainment industry for decades,” Koltin said in a statement. “This strategic deal is another feather in the cap for Citrin Cooperman as they continue to build their presence in Southern California.”
In January, Citrin expanded in Los Angeles by merging in accounting firm
