- The First PE-to-PE Sale of an Accounting Firm
On January 7, 2025, New Mountain Capital (New Mountain, NMC), a private equity (PE) firm with stakes in several accounting firms, announced the sale of a significant minority stake of Citrin Cooperman (Citrin, CC) to Blackstone, the world’s largest “alternative asset manager.” For simplicity, we will be referring to Blackstone as a PE firm, although they have their fingers in… Read more: The First PE-to-PE Sale of an Accounting Firm - How to Avoid the Axe When Firms are Doing Layoffs
We’re entering the stage of the public accounting business cycle when layoffs are more prevalent. Before we get into the strategies for protecting yourself from the specter of job loss, we should examine the recent history of the public accounting industry. The last five years have looked something like this: 2020: COVID-19 hits, shutting down in-office work for about two… Read more: How to Avoid the Axe When Firms are Doing Layoffs - Public Accounting Interns are Getting Fewer (and Delayed) Offers in 2024
This year’s crop of public accounting interns is finding out that offers for full-time employment in 2024 aren’t as common as they used to be. GoingConcern highlighted this trend, which is impacting the business market broadly. We’ve spoken with partners at several major public accounting firms, and they have confirmed similar trends specifically within public accounting. While partners generally don’t… Read more: Public Accounting Interns are Getting Fewer (and Delayed) Offers in 2024 - The Rise of Private Equity in Public Accounting
In August of 2021, EisnerAmper, a national public accounting firm, announced a strategic investment from private equity firm TowerBrook Capital Partners. On April 11, 2022, Citrin Cooperman, another national public accounting firm, announced a deal with New Mountain Capital, a private equity group, to sell a majority of its shares. On June 30, 2022, Cherry Bekeart, a top-25 public accounting… Read more: The Rise of Private Equity in Public Accounting
