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Sikich Secures $250 Million Minority Investment from Bain Capital
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Subscribe10 MAY 2024 / M&A UPDATES
Global professional services firm Sikich LLC has received a $250 million minority growth investment from Bain Capital. The investment is intended to accelerate Sikich's growth, improve operational efficiencies and strengthen its position within the rapidly consolidating professional services sector, with neither the company's control nor executive teams changing as a result.
Sikich LLC, a global technology-enabled professional services firm, has announced a significant milestone with the receipt of a $250 million minority growth investment from Bain Capital. This strategic partnership is poised to accelerate Sikich's growth trajectory, enhance operational efficiencies, and reinforce its leadership position in the professional services sector, which is currently experiencing rapid consolidation.
Firm Overview:
Established in 1982, Sikich has undergone substantial expansion under the leadership of CEO Christopher Geier, who assumed the role in 2017. During this period, the firm has achieved a nearly 300% increase in revenue and broadened its geographic footprint, now serving clients across all major U.S. markets and internationally, with a workforce nearing 2,000 employees.
Strategic Implications:
The infusion of $250 million from Bain Capital is earmarked to support Sikich's aggressive growth strategy, which emphasizes acquisitions and strategic partnerships. This investment enables Sikich to leverage Bain Capital's extensive resources and expertise, facilitating the firm's continued expansion and operational excellence. Notably, Sikich retains majority control of the company, with its existing executive and leadership teams, led by CEO Christopher Geier, maintaining their positions.
Industry Perspective:
Cristian Jitianu, a Partner at Bain Capital Special Situations, commented on the partnership, stating, "We have watched Sikich thrive under Chris and his talented team’s leadership as they continue to set the industry standard across their leading accounting, technology, and advisory solutions." He further emphasized Sikich's differentiated business model, noting that it has enabled the company to gain share in a fragmented market.
Future Outlook:
This investment marks a pivotal moment for Sikich, providing the firm with the capital and strategic support necessary to advance its mission and deliver enhanced value to its employees and clients. The partnership with Bain Capital is expected to propel Sikich into a new era of growth and innovation within the professional services industry.
Until next time…
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