CohnReznick Buys Aldrich to Build a West Coast Powerhouse
A Top 25 firm is buying a Top 75 firm, adding wealth management, West Coast offices, and another proof point that private-equity-backed accounting rollups are not slowing down.
In brief
CohnReznick is acquiring Aldrich CPAs + Advisors and Aldrich Wealth in a deal expected to close in mid-December.
The acquisition adds more than 500 employees, 48 partners, and over $108 million in revenue.
The move expands CohnReznick's West Coast footprint and strengthens private client, construction, telecom, agribusiness, and wealth capabilities.
CohnReznick is making another big swing in the accounting land grab. The New York-based Top 25 firm is acquiring Aldrich, a Lake Oswego, Oregon-based Top 75 firm with a serious West Coast presence and a registered advisory arm managing $8 billion in assets. For a profession that keeps talking about succession pressure, talent constraints, and advisory growth, this is the kind of deal that says the quiet part out loud: scale is becoming a product.
The Deal
The transaction brings Aldrich CPAs + Advisors and Aldrich Wealth under CohnReznick. Aldrich adds offices across Washington, Oregon, California, Utah, and Colorado, giving CohnReznick a stronger western region in one move. It also brings over 500 employees and 48 partners, which is not a bolt-on tuck-in. It is a platform-sized expansion.
The Strategy
CohnReznick ranked No. 15 on the 2026 Top 100 Firms list, with $1.14 billion in revenue, 344 partners, and more than 3,860 employees across 35 offices. Aldrich ranked No. 72. Put together, the deal adds both geography and a new wealth-management channel, which matters because CPA firms are trying to own more of the client relationship before another advisor does.
The PE Signal
CohnReznick received a private equity investment from Apax Partners in February 2025. Since then, it has kept buying, including Ham, Langston & Brezina in Texas, Smith Schafer & Associates in Minneapolis, and Piascik & Associates in Virginia. The pattern is hard to miss. Private capital is turning firm expansion from a slow partner-retirement conversation into a repeatable acquisition machine.
Why It Matters
For smaller firms, this deal is a warning and a map. The buyers want talent, niche strength, regional density, and advisory services that can travel across a larger client base. For clients, the pitch is more capabilities under one roof. For partners, the question is whether their firm is building enough specialized value to choose its future, instead of waiting for the market to choose it.
What CPAs Should Watch
Watch how CohnReznick integrates Aldrich Wealth. If the combined firm can cross-sell tax, assurance, advisory, and wealth services without flattening Aldrich's local culture, it becomes a stronger model for the next wave of firm consolidation. If not, it is a reminder that buying revenue is easier than integrating relationships.
