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Scaling Advisory Excellence: The Citrin Cooperman/Signature Analytics Deal Story
Join ACG San Diego for an in-depth fireside chat exploring a landmark transaction in the professional services landscape: Citrin Cooperman’s acquisition of Signature Analytics, a leading provider of flexible, scalable outsourced accounting and advisory services for businesses and nonprofits nationwide.
As traditional CPA firms accelerate their evolution beyond audit and tax, this transaction highlights a powerful strategic trend—the convergence of compliance-based services and high-growth advisory platforms. By acquiring Signature Analytics, Citrin Cooperman significantly expanded its ability to deliver outsourced, strategic finance leadership to middle-market and growth-stage companies, while positioning itself at the forefront of a rapidly transforming advisory market.
Our featured speakers will share a candid, behind-the-scenes look at the transaction from both the sell-side and buy-side perspectives, including the strategic rationale, deal execution considerations, and integration challenges of bringing a fractional services platform into a large, national CPA firm.
This discussion will offer valuable insights for founders of advisory businesses, CPA firm leaders, and investors evaluating opportunities in the evolving professional services ecosystem.
Key Takeaways
- Sell-Side Strategy: Structuring for Value and Control
Selling a firm in today’s mid-market M&A environment requires more than strong financials—it demands intentional deal design and risk positioning. Most transactions are structured across three components: upfront cash, equity rollover, and earnouts. A critical lens for sellers is control—maximizing cash at close reduces dependency on future performance and mitigates risk tied to earnouts and minority equity positions.
Valuation ranges (often ~4–8x EBITDA or revenue) are highly sensitive to perceived risk. Firms that command premium multiples consistently demonstrate:
- Diversified, non-concentrated revenue streams
- Predictable, recurring income
- Scalable infrastructure and documented processes
- Strong market positioning aligned with buyer demand
Ultimately, sellers who proactively “de-risk” their business—while aligning operations to what acquirers value—are best positioned to push toward the الأعلى end of the valuation range:
- Buy-Side Strategy: Platform Building and Strategic Clarity
CPA firms are no longer relying solely on audit and tax—they are actively transforming into diversified advisory platforms. Acquiring fractional and specialty firms has become a key lever to accelerate this evolution, expand service offerings, and unlock new revenue streams.
However, not all acquisition strategies are created equal. Leading buyers differentiate themselves by having a clear platform vision:
- Defined target profile (e.g., mid-market clients, complementary services)
- Strategic rationale for each acquisition (capability vs. scale)
- Integration roadmap from day one
The rise of private equity—exemplified by firms like Citrin Cooperman’s backing from Blackstone—has further intensified competition and elevated valuations. This influx of capital is rewarding firms that can execute on disciplined, thesis-driven growth strategies, rather than opportunistic deal-making.
- The Convergence of CPA and Advisory Models
The traditional CPA model is undergoing a structural shift. Client expectations, margin pressures, and talent constraints are pushing firms to expand beyond compliance into higher-value advisory services.
Fractional finance capabilities represent a natural extension—but they must be thoughtfully structured. Independence considerations often require separation between audit and advisory functions, yet this separation can become a strategic advantage:
- Creates cross-selling opportunities over time
- Deepens client relationships across service lines
- Positions firms as long-term strategic partners, not just compliance providers
Firms that successfully navigate this convergence are building more resilient, diversified businesses with stronger lifetime client value.
- Integration Realities: Culture, Talent, and Sustainable Growth
Integration is where deal success is ultimately won or lost—and cultural alignment is often the deciding factor. While some level of attrition is inevitable, outcomes depend heavily on how firms manage the human side of integration.
Key success factors include:
- Clear communication of vision and growth opportunities
- Defined career paths and investment in talent development
- Thoughtful alignment of operating models and client service philosophies
In the case of Citrin, alignment at the leadership level—shared values, similar client service approaches, and mutual respect for prior experiences—created a strong foundation for integration. For many employees, joining a larger platform introduced new career opportunities, while others required reassurance around maintaining the entrepreneurial feel of a smaller firm.
When executed well, integration not only preserves value but accelerates it—enabling geographic expansion (including rapid West Coast growth), broader capabilities, and enhanced client impact.
Panelists:
Jason Kruger, Partner at Citrin Cooperman (former President & Founder of SA)
Moderator:
Jack Ankerstjerne, CPA | Manager | Audit and Business Advisory| HASKELL & WHITE LLP
BIOS/PHOTOS:
Jason Kruger, Partner at Citrin Cooperman (former President & Founder of SA)
Jason Kruger is a partner in Citrin Cooperman’s Business Process Outsourcing Practice, based out of the Carlsbad, CA office. With over 20 years of experience, Jason is dedicated to helping business owners, leaders, and executives improve financial visibility and performance to achieve their strategic goals.
Jason specializes in providing outsourced accounting, financial advisory services, and operational insights to small and middle-market businesses. His expertise spans financial reporting, business strategy, and forward-looking decision making.
Prior to joining Citrin Cooperman, Jason founded and served as president of Signature Analytics for over 16 years, where he developed a proprietary five-step process for optimizing financial clarity and driving business value. As the founder of Signature Analytics, which joined Citrin Cooperman in 2024, Jason led the firm to be recognized five times on the Inc. “5000 Fastest-Growing Private Companies” list and as one of the ”Best Workplaces“ nationwide. Before that, he worked as an audit senior manager at a Big Four firm.
Jason’s passion for guiding businesses toward financial success has made him a valuable resource for organizations across various industries.
Jack Ankerstjerne, CPA | Manager | Audit and Business Advisory| HASKELL & WHITE LLP
Jack Ankerstjerne is an Audit Manager at Haskell & White with over ten years of public accounting experience. He works with private and public companies in biotech, as well as nonprofit organizations and companies in the manufacturing and distribution space. He leads audit engagements, advises clients, and ensures projects stay on time and within budget, with deep expertise in complex audits.
Jack is an active member of the ACG San Diego Programs & Education Committee, where he helps organize events such as deal stories and insider sessions, while expanding his professional network.
Known for his proactive, big-picture approach, Jack prioritizes client success and delivers thoughtful, forward-looking solutions. He has also guided clients through key FASB accounting updates to help them stay ahead of industry changes.
Originally from St. Paul, Minnesota, Jack earned a BA in Accounting from the University of St. Thomas (Opus College of Business). In his free time, he enjoys golf, movies and TV, podcasts, and working out.
REGISTRATION OPEN NOW
- ACG Members: $55
- Non-Members & Guests: $105
Agenda
- 4:00 pm - 4:30 pm: Registration / Networking
- 4:30 pm - 5:15 pm: Fireside Chat
- 5:15 pm - 5:30 pm: Q&A
- 5:30 pm - 6:00 pm: Happy Hour Reception
Hosted by: ACG
Chapter
San Diego
