Key Takeaways
- • Eide Bailly, a regional CPA and business advisory firm, sold a majority stake to Reverence Capital Partners and co-investors in a deal valued at $1.8 billion, representing a significant consolidation in the professional services sector.
- • The transaction aims to accelerate artificial intelligence implementation across Eide Bailly's operations and client service offerings, positioning the firm to compete in an increasingly tech-driven advisory landscape.
- • Reverence Capital Partners, led by Milton Berlinski, Peter Aberg, and Alex Chulack (collectively over 100 years of advisory and investing experience), brings financial services private equity expertise to the partnership.
- • The deal closed on or around April 30, 2026, following a definitive agreement announcement, marking Reverence Capital's entry into the professional services accounting space.
Summary
Eide Bailly LLP, a regional certified public accounting and business advisory firm offering audit, assurance, and advisory services, has been acquired by private equity firm Reverence Capital Partners in a majority stake transaction valued at $1.8 billion. The deal, which closed in late April 2026, represents a strategic shift toward private equity backing within the mid-market accounting services industry and signals growing investor appetite for professional services consolidation.
According to Wall Street Journal reporting and Reverence Capital's official announcement, the transaction was structured to enable accelerated adoption of artificial intelligence capabilities—a critical strategic imperative for accounting and advisory firms facing competitive pressure from technology-enabled competitors. Eide Bailly cited the acceleration of AI implementation for both internal operations and client-facing solutions as a primary rationale for the investment.
Reverence Capital Partners, a financial services-focused private equity firm employing an integrated approach across private equity, structured credit, and complementary strategies, brought specialized expertise in the financial services sector to the transaction. The investment firm's leadership team—Milton Berlinski, Peter Aberg, and Alex Chulack—collectively brings over a century of combined advisory and investment experience. Reverence Capital's investment thesis appears centered on upgrading technology infrastructure and service delivery capabilities within Eide Bailly's existing platform while maintaining the firm's established client relationships and advisory credentials.
The deal underscores broader consolidation trends in professional services, where mid-market accounting and advisory firms increasingly seek capital partners to fund digital transformation, expand service capabilities, and compete for talent in a tight labor market. The $1.8 billion valuation reflects the market's confidence in Eide Bailly's client base, service breadth, and growth potential under private equity ownership focused on technology enablement.
According to Wall Street Journal reporting and Reverence Capital's official announcement, the transaction was structured to enable accelerated adoption of artificial intelligence capabilities—a critical strategic imperative for accounting and advisory firms facing competitive pressure from technology-enabled competitors. Eide Bailly cited the acceleration of AI implementation for both internal operations and client-facing solutions as a primary rationale for the investment.
Reverence Capital Partners, a financial services-focused private equity firm employing an integrated approach across private equity, structured credit, and complementary strategies, brought specialized expertise in the financial services sector to the transaction. The investment firm's leadership team—Milton Berlinski, Peter Aberg, and Alex Chulack—collectively brings over a century of combined advisory and investment experience. Reverence Capital's investment thesis appears centered on upgrading technology infrastructure and service delivery capabilities within Eide Bailly's existing platform while maintaining the firm's established client relationships and advisory credentials.
The deal underscores broader consolidation trends in professional services, where mid-market accounting and advisory firms increasingly seek capital partners to fund digital transformation, expand service capabilities, and compete for talent in a tight labor market. The $1.8 billion valuation reflects the market's confidence in Eide Bailly's client base, service breadth, and growth potential under private equity ownership focused on technology enablement.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.