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Private equity is buying accounting firms. Know who, how, and what it means for yours.
A five-minute weekly read for owners and partners of US CPA firms. Every confirmed deal, every platform and the money behind it, explained in plain English and linked to the source.
Free. One email every Tuesday at 7:00 AM ET. We never sell or share your address. Privacy policy
Who owns US accounting now: the map
A record year of deals. Here’s who is buying, who backs them, and what it means for your firm.
- 01Who’s buying: the most active platforms
- 02Top deals, Sept. 29 – Oct. 14
- 03What it means for firm owners
- 04The data point: monthly deal flow
The market, in three numbers
The buyers have changed. Here’s by how much.
Firms buying firms with partner capital used to lead this market. Now private-equity sponsors do, mostly through the alternative practice structure, which keeps audit work in a CPA-owned firm while outside capital funds the rest.
Source: Capstone Partners
Accounting-services deals in 2025
Transactions announced or completed. A record, up 26% year over year.
Source: Capstone Partners, July 2026
Share of 2026 deals by financial buyers
Source: Capstone Partners (year-to-date vs. prior-year period)
IPA 100 firms with outside investment
Firms on INSIDE Public Accounting’s list of the 100 largest that now have some form of outside capital.
The map
Verified deals, by headquarters state
Accounting firms that joined PE-backed platforms, counted only when we have checked the deal against the buyer’s or investor’s own announcement. Hover or tab through a state for its count.
160 verified deals by the acquired firm’s US state. Texas, California, Florida and New York have the most so far.
Data through August 6, 2026
- Texas20
- California17
- Florida11
- New York11
- Georgia9
- Colorado8
Latest 25 of 160 verified deals, with sources
- Persing Professional Group (NV), Sorren: Sorren, 2026-08-06
- Anderson, Lower, Whitlow (IA), UHY: UHY, 2026-08-03
- Gray, Gray & Gray (MA), Frazier & Deeter Advisory: Frazier & Deeter, 2026-08-03
- Sowers & Co. (TX), Doeren Mayhew: Doeren Mayhew, 2026-07-22
- McMillan, Whiteman & Associates (FL), Doeren Mayhew: Doeren Mayhew, 2026-07-21
- Ham, Langston & Brezina (TX), CohnReznick: CohnReznick, 2026-07-06
- RBT CPAs (NY), UHY: UHY, 2026-07-06
- William Vaughan Company (OH), Ascend: Ascend, 2026-05-28
- Gordon Advisors (MI), Cohen & Co.: Cohen & Co, 2026-05-13
- Gorfine Schiller & Gardyn (MD), Sorren: Sorren, 2026-05-12
- Parlade Schaefer Schortz CPAs P.A. (FL), Doeren Mayhew: Doeren Mayhew, 2026-05-06
- Price Kong (AZ), Aprio: Aprio, 2026-05-06
- Copeland Buhl (MN), Frazier & Deeter Advisory: Frazier & Deeter, 2026-05-04
- Jackson Thornton (AL), Ascend: Ascend, 2026-05-01
- CAVU Advisors (MD), Aprio: Aprio, 2026-04-01
- Balanced Hospitality Strategies (CA), EisnerAmper: EisnerAmper, 2026-03-17
- Price, Reuben, and Associates (CA), EisnerAmper: EisnerAmper, 2026-03-17
- Berman Hopkins CPAs & Associates (FL), Doeren Mayhew: Doeren Mayhew, 2026-03-11
- Hucke and Associates (NY), Ryan LLC: Ryan, 2026-03-04
- Connected Accounting (CA), Sorren: Sorren, 2026-02-25
- Larson Tax Partners (MO), UHY: UHY, 2026-02-25
- Dent Moses (AL), Doeren Mayhew: Doeren Mayhew, 2026-02-19
- Impact Technology Group (AL), Doeren Mayhew: Doeren Mayhew, 2026-02-19
- CMJ LLP (NY), UHY: UHY, 2026-02-17
- Richardson Kontogouris Emerson LLP (CA), Cherry Bekaert: Cherry Bekaert, 2026-02-17
Who’s buying
The six most active platforms, and the money behind them.
CPA Trendlines has logged 525 events since 2016, including 473 acquired firms across about 72 platforms and 69 capital sources. These are the most active, by cumulative tracked deals.
Source: CPA Trendlines, CPA PE Deal Tracker, data through May 31, 2026.
Monthly deal flow cooled after January
Tracker events per month, 2026
The data point
A slowdown, with an asterisk
January was the high point of the year through May. The trailing 12-month total crested at 226 in March. Meanwhile, PE capital raised for accounting-focused funds is up 16.1% year over year, to $12.7 billion.
“The deceleration is real in the exact months of April and May, but the trailing window is a floor, not a ceiling.”
Quote: CPA Trendlines, CPA PE Deal Tracker (data through May 31, 2026). Fund figures: Capstone Partners.
In every issue
One email. The week’s deals, and what they mean.
Written to be read on a Tuesday morning before the first meeting, and forwarded to the partners who haven’t been following.
Every deal, verified
A weekly log of acquisitions, mergers and PE investments, each linked to the primary announcement. No rumors.
The buyer map
Which platforms are buying, who backs them and where they’re expanding, so you know who could come calling in your region.
What it means for a firm your size
Short, practical takes on deal structures, like the split between the audit firm and the investor-funded advisory company, and what changes for partners and staff.
The numbers that matter
Deal counts, capital raised and rankings from public sources, so you can see the market as the buyers see it.
Our standard
If we can’t source it, we don’t print it.
Public sources only
Firm and investor announcements, public rankings, trade press and regulatory filings. Every fact carries a link.
No side to take
We don’t broker deals. We cover the firms that sell and the ones that stay independent.
Sponsors, labeled
Paid placements are always marked “Sponsored.” Sponsors never see or shape editorial coverage.
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