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Aprio Announces Strategic Growth Investment from Charlesbank Capital Partners
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Subscribe12 JUL 2024 / M&A UPDATES
Atlanta-based business advisory and accounting firm, Aprio, has received a strategic investment from private investment firm, Charlesbank Capital Partners, marking Aprio's first institutional capital infusion. The deal is set to spur Aprio's expansion efforts, facilitate further investment in talent, technology, and infrastructure, and position the firm as one of the fastest-growing in the US, enhancing its client and team member services and experiences.
Aprio, a leading business advisory and accounting firm based in Atlanta, has received a strategic investment from Charlesbank Capital Partners, a middle-market private investment firm with over $18 billion of capital raised since inception.
This transaction marks Aprio's first institutional capital infusion and is expected to accelerate the firm's innovation and growth. Over the past three years, Aprio has expanded significantly, adding 15 new global locations and enhancing capabilities in high-growth industries such as manufacturing and distribution, real estate, technology, and more. Since 2016, the firm has completed 28 business combinations.
The partnership with Charlesbank will enable Aprio to invest further in talent, technology, and infrastructure, enhancing client and team member experiences. The firm plans to continue its growth through both organic means and strategic mergers and acquisitions.
Richard Kopelman, CEO of Aprio, stated, "As our profession continues to rapidly evolve, our partnership with Charlesbank is an important leap forward in our ability to bring state-of-the-art solutions to top business leaders, while making investments that will benefit our team, clients, and communities."
Michael Choe, Managing Director and CEO at Charlesbank, commented, "Aprio’s deep commitment to client service and innovation over its 72-year history has made it a stand-out player in the accounting and business advisory space."
Upon closing the transaction, expected in late summer 2024, Aprio will adopt an alternative practice structure. Aprio LLP, a licensed CPA firm, will provide attest services, while Aprio Advisory Group LLC will offer business advisory, tax, and other non-attest services. Both entities will operate as separate legal entities.
This investment positions Aprio to continue its trajectory as one of the fastest-growing accounting firms in the United States, enhancing its ability to serve clients across various industries and geographies.
Until next time…
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