Private Equity Accounting Firms are reshaping the landscape of public accounting. In recent years, they have broadened their focus beyond traditional large enterprises, recognizing untapped growth potential in smaller and mid-sized accounting firms.

As noted in this article from the Journal of Accountancy, PE investment in the accounting sector is accelerating — with deals ranging from large firms such as EisnerAmper (over 3,000 employees) and Citrin Cooperman, to boutique practices operating in fragmented markets.
According to Allan Koltin, more than half of the top 20 public accounting firms are currently engaged in strategic discussions with PE investors.

For boutique and specialized accounting firms, this presents both an opportunity and a strategic inflection point. The right PE partnership can fuel growth, unlock succession pathways, and drive operational transformation.

Strategic Advantages of PE Investment for Small Firms

1. Strategic Growth Opportunities

Smaller accounting firms often bring specialized expertise and niche client bases to the table.
Private Equity Accounting Firms see the potential to:

  • Expand service offerings
  • Enter new markets
  • Modernize technology infrastructure

💡 With the right capital partner, a smaller firm can compete effectively with much larger players, while preserving its differentiated market position.

2. Access to Capital

Smaller accounting firms often bring specialized expertise and niche client bases to the table — but often lack the capital needed to scale.

Private Equity Accounting Firms provide the financial resources to:

  • Improve technology and operational infrastructure
  • Attract and retain key talent
  • Enhance client relationship management

💡 For PE investors, these firms represent an ideal balance of risk and return. With the right capital infusion and operational guidance, smaller firms can evolve into highly scalable and profitable platforms.

3. Operational Best Practices

Smaller accounting firms often rely on legacy processes and ad hoc operational structures — limiting their ability to scale efficiently.

Private Equity Accounting Firms bring proven operational best practices, developed across multiple industries, to help firms:

  • Streamline internal processes
  • Improve service delivery models
  • Increase overall operational efficiency

💡 By closing these operational gaps, PE-backed firms can enhance client experience, improve margins, and build a scalable foundation for long-term growth.

4. Succession Planning

Many smaller accounting firms face significant succession challenges — with aging leadership and no clear transition plan in place.

Private Equity Accounting Firms offer solutions that can:

  • Provide founders and senior partners with viable exit strategies
  • Ensure leadership continuity and knowledge transfer
  • Preserve and strengthen the firm’s long-term legacy

💡 For firms struggling with succession, PE investment can unlock paths to leadership transition — while securing the firm’s future stability and growth.

5. Industry Consolidation

The accounting industry remains highly fragmented, with many smaller firms operating independently — which limits their ability to scale and compete.

PEs are actively driving consolidation by helping smaller firms:

  • Pursue strategic mergers and acquisitions
  • Achieve scale advantages and broader service capabilities
  • Strengthen market position in competitive landscapes

💡 Through PE-backed consolidation, smaller firms can accelerate growth, enhance their competitive edge, and create more resilient, market-leading platforms.

How White Tiger Facilitates PE-Backed Partnerships

Private Equity Accounting Firms are increasingly shaping the future of public accounting. And at White Tiger Connections, we are at the forefront of facilitating transformative partnerships between Private Equity investors and smaller accounting firms. We bring:

  • Deep industry insight
  • Experience in structuring PE-backed deals
  • Expertise in aligning investments with strategic firm goals

If your firm is considering PE investment — whether for growth, succession, or strategic positioning — we can help you assess the opportunity.

📩 Contact us to schedule a discovery call with our M&A team.