CohnReznick LLP and Watkins Meegan LLC Announce Plans to Combine

New York-based CohnReznick LLP (FY14 net revenue of $508.2 million) and Bethesda, Md.-based Watkins Meegan LLC (FY13 net revenue of $46 million) have signed a letter of intent to combine practices, expected to be effective Nov. 1.

The combination is designed to bring added expertise to both firms and will bolster CohnReznick’s position as a leading firm in the Washington, D.C. area.

Founded in 1975, Watkins Meegan has 13 partners and 200 employees and is ranked by IPA as No. 71 of the top 100 firms in the country. With offices in Bethesda, Md., Tysons Corner, Va., Herndon, Va., and Annapolis, Md., the firm serves government contractors, the real estate and construction industries, as well as the not-for-profit and hospitality industries. Mike Micholas, Watkins Meegan’s MP, will continue to be a part of the senior management team in the region.

IPA No. 11 CohnReznick has 26 offices, including three in Maryland and Virginia, and more than 600 employees. Its firmwide resources include dedicated industry practices, specialized assurance, tax and advisory services, and global reach through Nexia International.

“We are very excited about what this combination means for our ability to serve our clients and our employees in the future,” says Micholas. “CohnReznick’s formidable commercial real estate, construction, not-for-profit and hospitality industry practices will provide valuable resources to our clients in those industries. All of our clients will benefit from a deeper bench of professionals with diverse technical expertise as well. And our employees will find greater opportunities for learning and growth as part of a larger organization.”

The combined firm will have approximately $600 million in revenues, nearly 300 partners, approximately 2750 employees and 28 offices.

Ken Baggett, Co-CEO of CohnReznick says, “We are continually looking at quality firms whose specialties complement our own. Watkins Meegan is a firm we have known for a number of years and have admired from a distance. We are very pleased about the synergies created by this combination.”

Tom Marino, Co-CEO of CohnReznick, says, “Both firms sought a partner with the same core values, particularly a commitment to technical excellence and superior client service. When you have that, along with complementary experience and expertise, you know you will make a positive impact on your clients, your employees and your community.”