Someone on r/accounting with a very legit-looking username and sparse comment history said today that their firm is announcing a PE deal. Who? WHO KNOWS! Candidates must be a “very hybrid” mid-tier with decent culture.
Welp, they’re announcing a PE deal
byu/User0273649362539506 inAccounting
Text:
Welp, they’re announcing a PE deal
Not looking forward for what’s to come. We are currently very hybrid. Love the current firm culture but now I’m afraid that will change. Does this ever end in a positive light? Public accounting stinks.
These comments are a joy.
Some people are speculating it’s Crowe. I’d say possibly CohnReznick since there’s a rumor they’ve got a PE deal in the works but I don’t think they meet the culture requirement, by all accounts that place is a dumpster fire.
Crowe wasn’t listed as one of the two firms in the top 25 exploring private equity investment in Forbes‘ September piece “Why Private Equity Is Rushing To Buy Up Accounting Firms.” Carr, Riggs, & Ingram is though and it’s been rumored for months that they’re close to making a private equity deal official. The only other firm Forbes listed as “just looking” is Armanino whose minority investment from Further Global Capital Management quietly made the news a few weeks ago.
We’ll see if OP updates. Feel free to speculate in the meantime.
Update: Tips are saying it is in fact Carr, Riggs, & Ingram and that an external announcement will be made Monday.
Update #2: It appears that intel was good. PKF O’Connor Davies announced a deal of their own on the same day.