private equity update: 52 deals, $28 billion
top trends, benchmarks, transactions
by 卡塔尔世界杯常规比赛时间 research
cornerstone report
private equity
johnston: private equity, shady vendors, and broken software | accounting influencers
“we’ve got a real problem. and no easy fix.”
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accounting influencers
with rob brown
the accounting profession is undergoing a seismic shift—and not all of it bodes well for those who value independence, innovation, or client service. in this episode of accounting influencers, veteran tech strategist randy johnston, shareholder at k2 enterprises, reveals the hard truths behind the changing operational and technological landscape of accounting firms.
johnston, who has advised thousands of firms across four decades, shares what he’s hearing behind closed doors at events like aicpa engage. from ai hysteria to private equity overreach, the most alarming trend is clear: “we’re seeing the erosion of what made accounting firms trusted advisors in the first place.”
xero buys melio for $3 billion in race for ‘the active gl’
cornerstone report: the new ai-powered war for the general ledger super-app
by 卡塔尔世界杯常规比赛时间 research
cornerstone report
brannon poe: pe drives prices–and change | accounting influencers
what forces are really driving firm sales—and what separates the sellable from the stagnant?
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accounting influencers
with rob brown
the great reshuffle in accounting is underway.
with three-quarters of the profession approaching retirement age and m&a activity reaching historic highs, many firm owners ask the same question: what’s my practice worth?
brannon poe, cpa, founder of poe group advisors, joins the accounting influencers to offer a rare, inside look at how deals are being made, what buyers are looking for, and how firm owners can prepare for a successful exit, whether it’s five weeks or five years away.
behind sorren’s roll-up: $170 million, 1,000 employees, 85 partners
sorren seeks to redefine the profession’s future.
consolidated: sorren, member firms, kuramoto, and prager
by 卡塔尔世界杯常规比赛时间 research
backed by dfw capital partners, meridien, idaho-based harris & co. cpas is leading a roll-up with 12 other firms to create sorren, a new top-50 firm with $170 million in revenue, 85 partners, more than 1,000 employees, and 20 offices across the u.s.
more mergers & acquisitions | ira rosenbloom: m&a money’s easy – culture fit’s hard | the disruptors | how private equity is impacting accounting | deals 2024: over 100 cpa firm mergers and acquisitions | want to merge? here are 23 things to request | richard kopelman: inside aprio’s bold | allan koltin: how small firms can thrive against pe-powered competitors | gear up for growth makeover | accounting influencers | should you merge? here’s how to chart your path | exclusive: eisner ceo charly weinstein explains the private equity deal | flash briefing: a “call to arms” after private equity deal
see the private equity dealflow timeline here | more private equity ‘s incursion into accounting here
the sorren platform is backed by dfw capital partners, which acquired harris & co. in january 2024. the investment in harris remains the private equity firm’s only publicly disclosed deal in the accounting sector. dfw focuses on lower middle-market business services and is leveraging harris as the foundation for building a national accounting and advisory enterprise.
kopelman: culture & capital fuel aprio’s rise | gear up for growth
pe doesn’t have to strip your culture.
gear up for growth
with jean caragher
ira rosenbloom: m&a money’s easy – culture fit’s hard | the disruptors
progressive firms are the key to the future of the profession.
this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
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the disruptors
with liz farr
the world of m&a is full of disruption, distraction, and disorientation these days, says ira rosenbloom, ceo of optimum strategies. while the headlines focus on private equity’s increasing role in cpa firm acquisitions, two new types of acquirers are playing a bigger role: family offices and wealth management.
more podcasts and videos: roman villard: ditch the suit & shine | monique swansen: align firm values with services | tina mcgill: how to create lasting client impact | stefan van duyvendijk: develop operational mindset | steve evans: why traditional hiring methods fail | roger knecht: can you be an accountrepreneur? | beth whitworth: focus on outcomes not hours |mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business | nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial |
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these different participants are disrupting “the more traditional marketplace, which for years has been driven by two cpa firms getting together that had a lot in common, except one was larger and the other one was smaller,” says rosenbloom. “i just think that what we’ve seen is there’s not one approach that works for everybody. we’re seeing dimension now. we’re seeing a whole bunch of choices.”
gary shamis: the private equity hazards for young partners | accounting influencers
private equity in accounting could boost firm value, but at what personal cost?
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accounting influencers
with rob brown
in a deep dive into private equity’s involvement in accounting, gary shamis, ceo of winding river consulting, describes how investment firms see value in the sector’s steady cash flows and resilient recession history. “it’s not that accounting is recession-proof,” shamis states, “but its inherent stability during economic downturns is highly appealing to investors.” he adds that accounting firms with strong advisory practices that offer scalable revenue opportunities are particularly interesting to private equity.
the conversation takes a sobering turn as shamis highlights the ongoing talent shortage within the profession. with fewer accountants entering the field and a growing demand for regulatory and advisory services, shamis emphasizes that private equity deals won’t solve the critical issue of human capital shortage. “there’s just not enough talent in the pipeline,” he cautions.
alex drost: firms get scrappy against pe-backed competitors | gear up for growth
as private equity gains momentum in the accounting industry, firms face a decision: embrace external investment or double down on independence.
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gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间
in this episode of gear up for growth, alex drost, managing principal of connection builders, discusses the growing interest in private equity in the accounting sector. hosted by jean caragher, president of capstone marketing, the conversation delves into the driving forces behind pe investments, the challenges investors and accounting firms face, and how firms can prepare for the evolving landscape.
gear up for growth spotlights the best strategies for smart and efficient growth in today’s competitive landscape. more gear up for growth every friday here.| more capstone conversations with jean caragher every monday | more jean caragher here | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | more 卡塔尔世界杯常规比赛时间 videos and podcasts here
the accounting profession is no stranger to change, but according to drost, recent shifts are reshaping the industry more dramatically than ever before. “we’re seeing changes not just in technology but in the makeup of the profession itself,” he says. “the aging partner base and different generational approaches to firm ownership are creating gaps that private equity sees as opportunities.”
tim brackney: don’t blame private equity. blame the accountants | accounting influencers
the profession’s problems are the profession’s own fault.
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accounting influencers
with rob brown
tim brackney, ceo of a private equity-backed accounting and advisory firm, is challenging the widespread notion that private equity harms the accounting industry.
“private equity is not killing public accounting,” brackney tells rob brown in this episode of accounting influencers. “public accounting was killing public accounting.” read more →
aprio sells majority stake to charlesbank pe
aprio is breaking off its cpa firm after reportedly selling a majority stake to charlesbank capital partners, a private equity firm.
already on a growth-by-acquisition streak, aprio has logged dozens of deals in the last few years. with fresh cash on hand, this pace is sure to accelerate.
more richard kopelman talks with rob brown on accounting influencers
aprio plans to adopt an “alternative practice structure,” with aprio llp as the legacy licensed cpa firm and aprio advisory group llc as the new pe-backed acquisition engine. read more →
the big 3 success tips for 2024
profitability is just part of the picture.
by matt rampe
the rosenberg map survey
over the next 12 months, three big disruptions will shake the accounting industry.
more: firms must choose best workplace model | tech, capital will drive accounting profession growth | ‘great shakeup’ in cpa firms on the way | pe, consolidations to keep impacting accounting profession
fortunately, there are at least three ways that firms can prevail.
vcs plunk $60 million into ai-powered ‘autonomous’ tax prep
black ore emerges from stealth with $60 million in funding to launch tax autopilot, an “autonomous” tax prep app for cpas and accounting firms.
by 卡塔尔世界杯常规比赛时间 research
via black ore
black ore.ai, an austin, texas-based ai platform for financial services, bolts out of the gate with $60 million in financing led by a16z and oak hc/ft. the company plans to use the funds to onboard new customers, grow its team and accelerate the development of additional ai products across financial services.
black ore was founded by veteran entrepreneurs, ceo eyal shinar and cto pavel kapovski, who have proven track records building and operating global fintech brands with ai and machine learning technologies. shinar previously founded fundbox, a $1 billion fintech unicorn powering payments and lending solutions for smbs. kapovski previously led r&d at cme group and spearheaded the development of machine-learning technology used by globally regulated banks and financial institutions. they are joined by a powerful team from leading companies such as adobe, baker tilly, cisco, ey, google, goldman sachs, grant thornton, nasa, pwc and ramp.
black ore offers an ai and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients. as part of its launch, black ore also announced its flagship product, tax autopilot, which combines its proprietary ai technology with federal and state tax codes and regulations to simplify the tax preparation and review process for cpas and accounting firms. future product offerings will target wealth management, financial advisory and planning, insurance services and more.