Aprio Announces Strategic Growth Investment from Charlesbank Capital Partners
11 Julio 2024 - 10:15AM
Business Wire
Investment to build a national professional and
financial services firm and fuel continued evolution of services to
support clients across the U.S. and internationally
Aprio (or the “Company”), a leading business advisory and
accounting firm, today announced that it has received a strategic
investment from Charlesbank Capital Partners (“Charlesbank”), a
middle-market private investment firm with more than $18 billion of
capital raised since inception, to accelerate innovation and growth
of the business. The transaction represents the first investment of
institutional capital into Aprio.
Aprio’s strong track record of client service, ability to
attract top talent, and differentiated growth strategy have
propelled it to the forefront of the accounting profession. With a
blend of industry-leading organic growth and a robust M&A track
record, Aprio was recently ranked by Accounting Today both as a Top
25 CPA firm in the United States and as the nation’s
fastest-growing accounting firm in 2023. Over the last three years,
Aprio added 15 new locations globally and bolstered capabilities
across many high-growth industries, including manufacturing and
distribution; real estate; restaurant, franchise & hospitality;
non-profit & education, high net worth/family office, and
technology. Aprio is nationally recognized as a top workplace,
often noted for its inclusive, growth-oriented culture and
commitment to continuous learning and development. In addition,
Aprio has completed 28 business combinations since 2016.
Charlesbank’s investment will seek to accelerate the Company’s
growth and allow Aprio to further invest in the talent, technology,
and corporate infrastructure required to continue delivering an
excellent client and team member experience. Simultaneously, the
partnership with Charlesbank will further enhance Aprio’s
impressive organic growth trajectory and mergers and acquisitions
track record, enabling continued geographic expansion and growth
within strategic service capabilities and markets.
“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. We are building the business advisory firm of the
future, and Charlesbank shares our vision and commitment,” said
Richard Kopelman, CEO. “Aprio is poised to advance to the next
level, and we are excited about the opportunity to best serve our
clients and fast-track our growth with a widely respected
partner.”
“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, and we have been thoroughly
impressed by the focused leadership Richard and the partnership
have demonstrated in achieving robust growth and building an
unmistakable culture of excellence,” said Michael Choe, Managing
Director & CEO at Charlesbank. “We look forward to leveraging
our deep professional services expertise to work closely with Aprio
in fueling further innovation and building a truly exceptional
integrated professional services platform.”
Following the closing of the transaction, which is expected in
late summer 2024, Aprio will operate an alternative practice
structure. Aprio, LLP, a licensed CPA firm, will provide attest
services, and Aprio Advisory Group, LLC, will provide business
advisory, tax, and other non-attest services. Aprio, LLP will
operate as a separate legal entity. Under this new structure,
partners and professionals will continue to deliver integrated,
seamless client experiences worldwide.
Terms of the transaction were not disclosed. The transaction is
subject to regulatory approval and other standard closing
conditions.
Falcon Capital Partners LLC served as sole financial adviser to
Aprio. DLA Piper LLP, Vedder Price P.C., and Foley & Lardner
LLP served as legal advisers to Aprio. Simpson Thacher &
Bartlett LLP, Ropes & Gray LLP, and NewGate Law LLP served as
legal advisors to Charlesbank. Guggenheim Securities LLC served as
financial advisor to Charlesbank.
About Aprio:
Founded in 1952, Aprio is a leading, full-service business
advisory and accounting firm that advises clients on achieving
what’s next. Aprio professionals work as integrated teams across
advisory, audit, tax, outsourcing, talent solutions and private
client services, bringing keen business intelligence and personal
commitment to each client. Across practices, Aprio brings together
proven experience, deep understanding, and strategic foresight for
industries including Manufacturing and Distribution; Non-Profit and
Education; Professional Services; Real Estate; Construction;
Restaurant, Franchise & Hospitality; Government Contracting,
and Technology and Blockchain. Aprio has grown to over 2,100 team
members. To serve clients wherever life or business may take them,
Aprio’s teams speak more than 60 languages and work with clients in
over 50 countries. For more, visit www.aprio.com.
About Charlesbank:
Based in Boston and New York, Charlesbank Capital Partners is a
middle-market private investment firm with more than $18 billion of
capital raised since inception. Charlesbank focuses on
management-led buyouts, growth capital financings, opportunistic
credit, and technology investments. The firm seeks to invest in
companies with sustainable competitive advantage and excellent
prospects for growth. For more information, please visit
www.charlesbank.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240711779467/en/
Contacts for Aprio: Julie Khoury / Cheri Husney
julie.khoury@aprio.com; cheri.husney@aprio.com
Contacts for Charlesbank: Ryan FitzGibbon / Alexa
Ottenstein / Peter Gavaris Prosek Partners
pro-charlesbank@prosek.com