The deal leaves its existing executive teams, under CEO Christopher Geier, at the helm of the business.  The firm most recently reported $363.77 million in annual revenue. Sikich said since Geier became CEO in 2017, revenue has expanded by 300 percent and the firm now has nearly 2,000 employees.

However, Sikich pointed out other investments over the last three years have involved firms relinquishing majority control to PE firms. Those include Baker Tilly, Cherry Bekaert, Citrin Cooperman, EisnerAmper, and Grant Thornton US, 

Majority investments by PE entities has led firms to split licensed CPA activities from advisory ones. For example, Grant Thornton LLP, remains a licensed CPA firm, while Grant Thornton Advisors LLC handles business advisor and non-attest services.  Similarly, the investment in EisnerAmper leaves two entities—the CPA firm, EisnerAmper LLP, and the advisory and non-attest firm, Eisner Advisory Group LLC.

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind