Key Takeaways
- • TPG Growth, the alternative asset manager's middle-market and growth equity platform, has entered into a definitive agreement to make a significant investment in Smith + Howard, a nationally recognized assurance, tax, advisory, and wealth management firm based in Atlanta.
- • The transaction represents the next phase of Smith + Howard's evolution into a scaled national professional services platform, building on several years of organic growth, strategic acquisitions, and technology investments undertaken during its partnership with Broad Sky Partners.
- • Weil, Gotshal & Manges LLP provided comprehensive legal counsel to TPG across multiple practice areas, with the deal team led by Private Equity partner Larissa Lucas and spanning 20+ attorneys across private equity, banking, tax, antitrust, employment, technology, and regulatory disciplines.
- • Financial terms of the transaction were not disclosed; however, the deal marks a strategic capital infusion designed to accelerate Smith + Howard's national expansion strategy.
- • Levenfeld Pearlstein LLC represented Smith + Howard management and its partners in the transaction, while Broad Sky Partners, the prior investor, completed its exit following a 3.5-year partnership.
Summary
TPG, a leading global alternative asset management firm, has committed to make a significant investment in Smith + Howard through TPG Growth, its dedicated middle-market and growth equity platform. The transaction, announced on June 9, 2026, follows a definitive agreement between the parties and marks a pivotal moment for Smith + Howard's continued expansion as a nationally scaled professional services platform.
Smith + Howard operates across assurance, tax, advisory, and wealth management services. Prior to TPG's involvement, the firm underwent substantial transformation during a 3.5-year partnership with Broad Sky Partners, during which it achieved sustained organic growth, completed strategic acquisitions, and invested heavily in technology infrastructure and core operational capabilities. TPG's investment represents the next evolution of this growth strategy, with the capital expected to fund accelerated national expansion.
Weil, Gotshal & Manges LLP served as TPG's legal counsel on the transaction, deploying a comprehensive deal team spanning multiple practice areas. The engagement was led by Private Equity partner Larissa Lucas and included specialists in private funds (partner David Wohl), banking and finance (partner Benton Lewis), tax (partner Noah Beck), executive compensation and benefits (partners Amanda Rotkel, Jennifer Britz, and Sarah Downie), U.S. antitrust (co-head Brianne Kucerik), employment (partner Rebecca Sivitz), technology and IP transactions (partners Dennis Adams and Liza Cotter), and regulatory transactions (partners Shawn Cooley and Antonia Tzinova). The depth and breadth of Weil's team reflects the complexity of the transaction across regulatory, operational, and financial dimensions.
Smith + Howard management and its partners were represented by Levenfeld Pearlstein LLC. Financial terms of the transaction were not publicly disclosed. The deal underscores continued institutional investor appetite for scaled, professionally managed service firms with diversified revenue streams and demonstrated operating leverage in the middle market.
Smith + Howard operates across assurance, tax, advisory, and wealth management services. Prior to TPG's involvement, the firm underwent substantial transformation during a 3.5-year partnership with Broad Sky Partners, during which it achieved sustained organic growth, completed strategic acquisitions, and invested heavily in technology infrastructure and core operational capabilities. TPG's investment represents the next evolution of this growth strategy, with the capital expected to fund accelerated national expansion.
Weil, Gotshal & Manges LLP served as TPG's legal counsel on the transaction, deploying a comprehensive deal team spanning multiple practice areas. The engagement was led by Private Equity partner Larissa Lucas and included specialists in private funds (partner David Wohl), banking and finance (partner Benton Lewis), tax (partner Noah Beck), executive compensation and benefits (partners Amanda Rotkel, Jennifer Britz, and Sarah Downie), U.S. antitrust (co-head Brianne Kucerik), employment (partner Rebecca Sivitz), technology and IP transactions (partners Dennis Adams and Liza Cotter), and regulatory transactions (partners Shawn Cooley and Antonia Tzinova). The depth and breadth of Weil's team reflects the complexity of the transaction across regulatory, operational, and financial dimensions.
Smith + Howard management and its partners were represented by Levenfeld Pearlstein LLC. Financial terms of the transaction were not publicly disclosed. The deal underscores continued institutional investor appetite for scaled, professionally managed service firms with diversified revenue streams and demonstrated operating leverage in the middle market.
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