CLEVELAND , Oct. 25, 2024 /PRNewswire/ — Cohen & Company, a nationally recognized assurance, tax and business advisory firm, announces strategic growth investment by LaBelle Minnick Partners (LMP) I’m happy to be able to do this. LMP is a private equity firm focused on investing in financial services, business services, and financial technology companies. This investment will help meet the growing needs of Cohen & Company’s clients across many of the company’s major industries and geographic markets, and will fund significant investments in technology and expansion of service offerings.
Today, Cohen & Company has a national reputation in the mutual funds, private equity, alternative investments, and real estate industries, as well as deep roots in serving closely-knit corporations, family offices, and high-net-worth individuals. I am. Through this investment, Cohen & Company is well-positioned to accelerate its multi-year strategic plan focused on growth, people, technology, quality initiatives, and customer service area focus.
“LMP has become a valuable strategic partner, providing a unique perspective into our industry and the clients we serve, and providing an employer of choice with human capital that is critical to our growth strategy. ” said the CEO of Cohen & Company. Chris Bellamy. “We are motivated to work harder than ever to protect the trust placed in us and deliver value to these important relationships for our stakeholders, including our clients, employees, and communities. , we move forward with confidence in this new chapter.”
“Cohen & Company’s vision for the future and long-standing reputation as a premier accounting, tax and advisory firm make it an ideal partner,” said Jason Berg, Partner at LMP. says Mr. LMP President Tom Hutchins added, “I am excited to work with Chris, the management team, employees and clients to continue to build on our success and support our growth trajectory.”
This event marks Cohen & Company’s first institutional investment. The investment is expected to close on December 31, 2024, at which point the company will also significantly increase its employee ownership. “I am extremely proud to reward the success of the outstanding team that has gotten us this far,” said Bellamy. “The increased shareholding, combined with the substantial reserves for future equity-based incentives, will further strengthen our alignment as we work together to achieve our strategic goals.”
After the transaction closes, the company will operate under an alternative business structure. Cohen & Company Limited, a licensed CPA firm, will provide attestation services and will be led by Vince Cartwright. Cohen & Co Advisory, LLC, which is not a CPA firm, will provide business tax, advisory and other non-certification services and will be led by Chris Bellamy. Although both companies are separately owned and managed, both use Cohen & Co as their brand name. Under this new structure, Cohen & Company’s partners and experts will continue to work seamlessly together to serve our clients.
Investment terms were not disclosed. The investment is subject to standard closing conditions.
Hunton Andrews Kurth LLP served as legal advisor to Cohen & Company. Sidley Austin LLP served as legal advisor to LMP.
About Cohen & Company
Named one of America’s Most Recommended Tax and Accounting Firms by USA TODAY and one of the Best of Best Firms by INSIDE Public Accounting, Cohen & Company serves clients across the United States and around the world. We provide assurance, tax, and advisory services. The company serves a wide range of customers, ranging from privately held companies to their owners. public and private funds, advisors and fund service providers within the investment industry; Fortune 1000 multinational companies. Founded in 1977, Cohen & Company has more than 800 dedicated professionals across the United States with 12 offices in Illinois, Ohio, Maryland, Michigan, New York, Pennsylvania, and Wisconsin. Through our affiliates, we also have an international presence in the Cayman Islands and Ireland. For more information, visit cohencpa.com.
About Label Mininick Partners
Lovell Minnick Partners is a private equity firm with a 25-year history of partnering with growth-oriented companies. LMP leverages deep sector experience and an extensive network of strategic advisors to help founders scale their companies at an accelerated pace. We work with management teams seeking to achieve long-term success and value creation through organic growth and strategic acquisitions. Since its founding in 1999, LMP has raised more than $5 billion in committed capital, invested in more than 50 unique platform companies and completed more than 200 add-on acquisitions. LMP targets growth-oriented, middle-market companies, with a particular focus on companies in the financial services, business services, and financial technology sectors.
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