H.I.G. Capital takes stake in accounting firm HBK
What's the deal? H.I.G. CapitalDealroom has a profile for this one. Try Dealroom → announced a growth investment in HBKDealroom has a profile for this one. Try Dealroom →, an integrated accounting, tax, audit, consulting, and wealth management firm. The deal is expected to close in the fourth quarter, with H.I.G. becoming HBK's first institutional partner.
What changes? HBK partners will retain leadership and control of the firm's culture and client service. Before closing, HBK will adopt an alternative practice structure, an arrangement common across the accounting industry.
Who advised? Houlihan LokeyDealroom has a profile for this one. Try Dealroom → and William BlairDealroom has a profile for this one. Try Dealroom → served as financial advisers to HBK and H.I.G.
The signal: Private equity continues to move into US accounting firms, taking minority and growth stakes while founders keep operational control. HBK's alternative practice structure — separating attest and non-attest services — is the model that lets these deals happen.
Read more: news.bloomberglaw.com
Image credit: Aranami
