Key Takeaways
- • Weil, Gotshal & Manges is serving as legal counsel to TPG in a definitive agreement to make a significant investment in Smith + Howard, a nationally recognized assurance, tax, advisory, and wealth management firm ranking among the Top 100 accounting firms.
- • TPG Growth, the growth-stage investing platform of TPG, will execute the investment, signaling the alternative asset manager's expansion into professional services and accounting advisory.
- • The transaction replaces Smith + Howard's prior private equity backer, Broad Sky Partners, marking a transition in ownership structure for the accounting and advisory services provider.
- • Guggenheim Securities provided financial advisory services to TPG on the transaction, while Levenfeld Pearlstein LLC represented Smith + Howard's interests.
- • The investment is designed to accelerate Smith + Howard's long-term growth initiatives, including expansion of advisory services and increased service capacity across its national platform.
Summary
TPG, a leading global alternative asset management firm, has entered into a definitive agreement to make a significant investment in Smith + Howard, a nationally recognized provider of assurance, tax, advisory, and wealth management services. The transaction will be executed through TPG Growth, the firm's dedicated platform for growth-stage investments. Weil, Gotshal & Manges LLP has been retained as TPG's legal counsel for the transaction, with Guggenheim Securities serving as financial advisor. Levenfeld Pearlstein LLC represents Smith + Howard in the matter.
Smith + Howard, ranked among the nation's top 100 accounting and professional services firms, will benefit from the investment to pursue strategic initiatives focused on expanding its advisory service offerings and building capacity across its national footprint. The transaction represents a transition in the firm's ownership structure, as the investment supersedes Smith + Howard's relationship with prior private equity investor Broad Sky Partners, which had previously backed the company's growth trajectory.
The investment reflects TPG's broader strategy of deploying capital into established, revenue-generating professional services platforms with demonstrated market positioning and growth potential. By partnering with Smith + Howard through TPG Growth, the alternative asset manager gains exposure to the accounting and advisory services sector, which continues to benefit from increasing demand for integrated tax, assurance, and wealth management solutions among middle-market and enterprise clients.
Smith + Howard, ranked among the nation's top 100 accounting and professional services firms, will benefit from the investment to pursue strategic initiatives focused on expanding its advisory service offerings and building capacity across its national footprint. The transaction represents a transition in the firm's ownership structure, as the investment supersedes Smith + Howard's relationship with prior private equity investor Broad Sky Partners, which had previously backed the company's growth trajectory.
The investment reflects TPG's broader strategy of deploying capital into established, revenue-generating professional services platforms with demonstrated market positioning and growth potential. By partnering with Smith + Howard through TPG Growth, the alternative asset manager gains exposure to the accounting and advisory services sector, which continues to benefit from increasing demand for integrated tax, assurance, and wealth management solutions among middle-market and enterprise clients.
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