PKF O'Connor Davies Welcomes Strategic Growth Investment from Investcorp and PSP Investments
Deal News | Nov 18, 2024 | Investcorp
Investcorp, in partnership with PSP Investments, has announced a strategic growth investment in PKF O'Connor Davies, one of the U.S.'s largest accounting, tax, and advisory firms. This investment marks a significant milestone in PKFOD's journey, promising to fuel growth, expand services, and enhance client experiences. With the backing of these seasoned investors, PKFOD aims to strengthen its market position and sustainability. The newly invigorated balance sheet is expected to facilitate increased M&A activities and technology investments. Investcorp has a reputation for successful investments in professional services, and this partnership with PSP Investments builds on their joint history in the sector. PKFOD will maintain its alternative practice structure, ensuring compliance with professional standards. Although financial terms remain undisclosed, the transaction has gained regulatory approval and awaits other customary conditions.
Sectors
- Professional Services
- Private Equity
- Financial Services
Geography
- United States – PKF O'Connor Davies is one of the largest accounting, tax, and advisory firms in the U.S., making this geography highly relevant.
Industry
- Professional Services – PKF O'Connor Davies operates in the professional services industry, providing accounting, tax, and advisory services.
- Private Equity – Investcorp and PSP Investments, as private equity firms, are investing in PKF O'Connor Davies to facilitate its growth.
- Financial Services – The investment activity involves strategic growth investment and M&A considerations, relevant to this sector.
Financials
- Undisclosed – The terms of the transaction between Investcorp, PSP Investments, and PKF O'Connor Davies.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PKF O'Connor Davies | Target Company | Company | A leading accounting, tax, and advisory firm in the United States. |
| Investcorp | Investor | Company | A global alternative investment firm leading the strategic growth investment. |
| PSP Investments | Investor | Company | The Public Sector Pension Investment Board, partnering with Investcorp in the investment. |
| Steve Miller | Co-Head of North America Private Equity at Investcorp | Person | Commented on Investcorp's position as a partner of choice for professional services firms. |
| Vitali Bourchtein | Principal at Investcorp | Person | Expressed enthusiasm about backing PKFOD due to its leadership and financial performance. |
| David Morin | Managing Director and Head of North America, Private Equity at PSP Investments | Person | Highlighted the strategic partnership to realize PKFOD's growth potential. |
| Kevin Keane | Executive Chairman at PKF O'Connor Davies | Person | Spoke on the endorsement of PKFOD's business and brand by the investment. |