Introduction: Why Miller, Cooper & Co Stands Out in Due Diligence
When you are acquiring a middle-market business, the due diligence process can make or break your deal. Choosing the right firm to scrutinize the financials, operations, and tax implications of your target company is one of the most consequential decisions you will make as a buyer. Miller, Cooper & Co, ranked as the 10th largest accounting firm in the Chicago metropolitan area and among the top 100 in the United States, has built a formidable reputation in this space.
Founded and headquartered in the greater Chicago area, Miller, Cooper has evolved from a traditional accounting practice into a full-service advisory firm that serves entrepreneurial and middle-market clients across a wide range of industries. Their due diligence services sit alongside audit, tax, IT solutions, retirement plan consulting, and broader business advisory capabilities, giving them a holistic view that many boutique due diligence shops simply cannot match.
In this review, we take an honest look at what Miller, Cooper & Co brings to the table for buyers considering acquisitions, what their strengths and potential limitations are, and how their services integrate with financing solutions like those offered by GoSBA Loans.
Firm Overview and History
Miller, Cooper & Co has been serving the Chicago business community for decades. Their growth trajectory from a regional accounting firm to a nationally recognized practice speaks to their ability to retain and develop talent while expanding service capabilities. Today the firm is recognized as an IPA Best of the Best CPA firm for 2025, an accolade that reflects peer recognition within the accounting profession.
Key Facts
- Location: Greater Chicago area, Illinois
- Ranking: 10th largest accounting firm in Chicago; Top 100 nationally
- Core Services: Audit & assurance, tax planning and compliance, due diligence, IT solutions, retirement plan services, business consulting
- Target Clients: Entrepreneurial businesses and middle-market companies
- Industry Coverage: Automotive dealers, technology, government entities, school districts, nonprofit organizations, and more
- Recognition: IPA Best of the Best CPA Firm 2025
Due Diligence Services: What Miller, Cooper Offers
Miller, Cooper’s due diligence practice is embedded within their broader transaction advisory capabilities. This is an important distinction from standalone due diligence boutiques. When Miller, Cooper conducts due diligence for an acquisition, they bring tax specialists, IT auditors, and industry experts into the engagement as needed.
Financial Due Diligence
The core of any acquisition analysis is financial due diligence, and Miller, Cooper’s audit background gives them strong credentials here. Their teams analyze historical financial performance, evaluate the quality of earnings, assess working capital requirements, and identify potential red flags in the seller’s financial statements.
- Quality of Earnings (QoE) analysis
- Working capital normalization
- Revenue recognition review
- Identification of non-recurring items and owner add-backs
- Historical trend analysis and forecasting validation
Tax Due Diligence
One area where Miller, Cooper has a distinct advantage over many competitors is their integrated tax practice. Tax exposure can be a deal killer in M&A transactions, and having tax specialists embedded in the due diligence process means potential liabilities, such as uncollected sales tax, misclassified workers, or aggressive depreciation schedules, are caught early rather than discovered after closing.
IT Due Diligence
In an era where technology infrastructure directly impacts business valuation, Miller, Cooper’s IT solutions practice adds another layer of analysis that many accounting firms overlook. They can assess the target company’s technology stack, cybersecurity posture, and IT-related risks as part of the overall due diligence engagement.
Strengths of Miller, Cooper & Co
- Multidisciplinary Approach: The combination of audit, tax, IT, and consulting under one roof means buyers get a more comprehensive picture of the target company. You are not just getting a financial analysis; you are getting a holistic business assessment.
- Middle-Market Focus: Miller, Cooper understands the nuances of entrepreneurial and middle-market businesses. These companies often have informal processes, owner-dependent relationships, and financial statements that require more interpretation than those of larger enterprises.
- Deep Industry Expertise: With coverage spanning automotive, technology, government, nonprofit, and other sectors, Miller, Cooper brings relevant benchmarks and industry-specific knowledge to their analyses.
- Established Reputation: As a Top 100 firm with decades of history, they bring institutional credibility that can be valuable when presenting findings to lenders, investors, or partners.
- Chicago-Based Network: For deals in the Midwest, Miller, Cooper’s deep local network of attorneys, investment bankers, and other advisors can facilitate smoother transactions.
Potential Limitations to Consider
No firm is perfect for every situation, and it is important to consider where Miller, Cooper may not be the ideal fit:
- Geographic Focus: While they serve clients nationally, their deepest expertise and network are in the Chicago area and Midwest. Buyers acquiring businesses in other regions may find that local knowledge is limited.
- Pricing: As a Top 100 firm, Miller, Cooper’s rates reflect their size and reputation. For smaller acquisitions under $1 million, the cost of their due diligence engagement may represent a disproportionate percentage of the deal value. Buyers of smaller businesses may find more cost-effective options with boutique firms.
- Turnaround Time: Larger firms sometimes have more structured processes and approval layers, which can extend timelines compared to nimble boutique shops. If you are on a tight deal timeline, this is worth discussing upfront.
- Less Emphasis on Digital Businesses: Miller, Cooper’s strength lies in traditional middle-market companies. If you are acquiring an e-commerce brand, SaaS company, or content site, firms that specialize in digital acquisitions may provide more relevant analysis.
Who Is Miller, Cooper Best Suited For?
Miller, Cooper & Co is an excellent choice for buyers in the following situations:
- Acquiring a middle-market business with revenue between $5 million and $100 million
- Deals involving complex tax structures or multi-state tax exposure
- Acquisitions where technology infrastructure is a significant value driver
- Buyers who need a single firm to handle financial, tax, and operational due diligence
- Transactions in the Chicago area or broader Midwest where local market knowledge is valuable
- Buyers who plan to retain the firm for post-acquisition accounting and tax services
How GoSBA Loans Complements Miller, Cooper’s Due Diligence
Due diligence tells you whether a business is worth buying. Financing determines whether you can actually close the deal. This is where GoSBA Loans enters the picture.
GoSBA Loans specializes in helping entrepreneurs and business buyers secure SBA financing for acquisitions, and their services pair naturally with the due diligence work performed by firms like Miller, Cooper & Co. Here is why:
- 50+ Lender Network: GoSBA maintains relationships with more than 50 SBA-approved lenders, which means they can match your deal with the lender most likely to approve it. Not all lenders evaluate businesses the same way, and having access to a broad network dramatically increases your chances of approval.
- $320 Million+ Funded: GoSBA has facilitated over $320 million in SBA loans, giving them deep experience with the documentation, structuring, and underwriting requirements that lenders demand.
- Completely Free Service: GoSBA does not charge borrowers. Their compensation comes from the lending side, which means you get expert loan brokerage at no cost to you.
- Free Business Plan ($2,500–$5,000 Value): SBA acquisition loans require a business plan, and GoSBA provides one at no charge. This is a service that typically costs $2,500 to $5,000 from a professional consultant.
The Integration Advantage
When Miller, Cooper completes their due diligence and delivers a Quality of Earnings report, that document becomes a cornerstone of your SBA loan application. GoSBA’s team understands exactly how to present QoE findings to lenders in a way that maximizes your approval odds. They can also help you structure the deal to meet SBA requirements while incorporating the insights from Miller, Cooper’s tax and financial analysis.
Think of it this way: Miller, Cooper tells you if the deal is good. GoSBA helps you get the money to close it.
Final Verdict
Miller, Cooper & Co is a strong, credible choice for due diligence on middle-market acquisitions, particularly in the Midwest. Their multidisciplinary approach, combining financial analysis with tax and IT expertise, provides buyers with a more complete picture than many competitors. The firm’s established reputation and Top 100 status add institutional credibility that can reassure lenders and investors.
However, buyers of smaller businesses or digital-first companies may find that specialized boutique firms offer better value and more relevant expertise. As with any professional service, the right choice depends on the size, complexity, and industry of the business you are acquiring.
If you are planning an acquisition and need both due diligence and financing, consider pairing Miller, Cooper’s analysis with GoSBA Loans’ SBA lending expertise to streamline the entire process from evaluation to closing.
Ready to explore SBA financing for your acquisition? Contact GoSBA Loans today for a free consultation and complimentary business plan.
