Cohen & Company Announces Strategic Growth Investment by Lovell Minnick Partners

Cohen & Company, a nationally recognized assurance, tax and business advisory firm is pleased to announce a strategic growth investment by Lovell Minnick Partners (LMP). LMP is a private equity firm focused on investments in financial services, business services and financial technology companies. This investment will help meet the growing needs of Cohen & Company clients across the firm's many key industries and geographic markets, and provide capital for important investments in technology and expansion of service offerings.

Today Cohen & Company holds national prominence in the mutual fund, private equity, alternative investment and real estate industries, while also rooted in serving closely held businesses, family offices and high-net-worth individuals. Through this investment, Cohen & Company is well positioned to accelerate its multi-year strategic plan focused on growth, people, technology, quality initiatives and service area interests of its clients.

"LMP will be a valuable strategic partner, offering a unique perspective on our industry and the clients we serve, along with a dedicated focus on human capital, which is crucial to our growth strategy as an employer of choice," says Cohen & Company CEO Chris Bellamy. "We are proceeding with conviction into this new chapter, motivated to work harder than ever for our stakeholders - our clients, our employees and our communities - to honor their trust in us and deliver value to these critical relationships."

"Cohen & Company's vision for the future and its longstanding reputation as a premier accounting, tax and advisory firm make them an ideal partner," says Jason Barg, partner at LMP. Tom Hutchins, principal at LMP, adds, "We are excited to collaborate with Chris, the management team, employees and clients to continue to build on their successes and support their growth trajectory."

This event marks the first institutional capital investment for Cohen & Company. The investment is expected to close on December 31, 2024, at which point the firm will also substantially increase the number of employee equity holders. "We are extremely proud to reward our exceptional team for the successes that have brought us to this point," says Bellamy. "The increase in equity holders, combined with substantial reserves for future equity-based incentives, will further strengthen alignment as we work together to achieve our strategic goals."

Following the transaction close, the firm will operate in an alternative practice structure. Cohen & Company, Ltd., a licensed CPA firm, will provide attest services and will be led by Vince Curttright. Cohen & Co Advisory, LLC, not a licensed CPA firm, will provide business tax, advisory and other non-attest services, and will be led by Chris Bellamy. Although separately owned and governed, the two entities will both use Cohen & Co as their brand name. Under this new structure, partners and professionals of Cohen & Co will continue to work together seamlessly in serving clients.

Terms of the investment were not disclosed. The investment is subject to standard closing conditions.

Hunton Andrews Kurth LLP served as legal counsel to Cohen & Company. Sidley Austin LLP served as legal counsel to LMP.

Lovell Minnick Partners is a private equity firm with a 25-year track record of partnering with growth-oriented companies. LMP leverages deep sector experience and a broad network of strategic advisors to help founders scale their companies at an accelerated pace. The firm collaborates with management teams seeking to achieve long-term success and value creation through organic growth and strategic acquisitions. Since inception in 1999, LMP has raised over $5 billion of committed capital, invested in more than 50 unique platform companies and completed over 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.