Major Accounting Firms

If you own or lead a major accounting firm and have thought about an exit, buyer activity in your space has accelerated significantly. Client advisory services reported 17% median revenue growth in 2024, making it the fastest-growing service line in accounting. Over 70% of all acquirers since 2023 have completed two or more transactions, and private equity involvement in accounting firm deals continues to increase quarter over quarter.

This edition of Industry Insights breaks down what is driving consolidation across accounting, how buyers evaluate firms in this space, and what factors separate premium outcomes from average ones.

Inside the analysis:

• Why new reporting rules, stricter audit thresholds, over 5 million new business applications filed annually, and rising regulatory complexity are sustaining strong demand for accounting services and attracting both strategic acquirers and PE-backed platforms
• How the shift from seasonal tax preparation to recurring advisory and consulting revenue, client retention rates, and the depth of institutional client relationships affect what buyers are willing to pay
• What role partner concentration risk, staff utilization, workflow automation maturity, and post-closing management commitment play in how buyers assess deal certainty and transition risk
• How EBITDA size directly affects the multiple range you can command, and where firms like yours typically fall on that spectrum

Download the full industry insights report to learn more.