Key Takeaways
- • TPG, through its TPG Growth middle-market and growth equity platform, has signed a definitive agreement to make a significant investment in Smith + Howard, a nationally recognized assurance, tax, advisory and wealth management firm, with financial terms not disclosed.
- • Smith + Howard has approximately 800 professionals across Alabama, Georgia, North Carolina, South Carolina, Tennessee, Texas and Virginia, and will use the capital for operational infrastructure, technology, talent, and AI-enabled workflow improvements.
- • The firm plans to acquire 8-12 firms over the next 18 months, targeting practices with $5-20 million in revenue, according to a published report.
- • The transaction, which follows Broad Sky Partners' ownership, is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.
- • The deal reflects a broader trend of private equity and venture-backed capital entering accounting firms to build AI-enabled professional services platforms, with rival Crete reportedly backed by $500 million to consolidate small CPA firms.
Summary
TPG has signed a definitive agreement to make a significant investment in Smith + Howard, according to a June 9, 2026 company announcement. The investment will be made through TPG Growth, the middle-market and growth equity platform of TPG, a global alternative asset manager with $306 billion in assets under management. Financial terms were not disclosed. The transaction follows several years of organic growth, acquisitions, and technology investment by Smith + Howard alongside its existing backer, Broad Sky Partners, a New York-based private equity firm focused on essential middle-market services.
Smith + Howard, which employs approximately 800 professionals across seven southeastern and southern states, said the capital will bolster expansion in operational infrastructure, technology, talent, and client service offerings. The partnership is also expected to accelerate the firm's efforts to integrate AI into workflows, a priority the firm says will create additional capacity for professionals as it grows. Smith + Howard has been recognized as one of the Fastest-Growing CPA Firms in the U.S. and continues to climb the Accounting Today Top 100 ranking. The firm will continue operating under its existing brand and leadership team, with CEO Sean Taylor leading the business.
TPG Growth's Max Wein said the firm's early investments in technology and AI-enabled capabilities align with TPG's business-building model. Broad Sky CEO Tyler Zachem described the deal as emblematic of the firm's strategy of partnering with management teams in high-growth professional services markets. A separate trade report indicates Smith + Howard plans to acquire 8-12 firms within 18 months, focusing on practices with $5-20 million in revenue. The report also notes that Thrive-backed Crete has $500 million to consolidate small CPA firms and rebuild them around AI, reflecting a wider wave of private capital entering the accounting sector.
After closing, Smith + Howard will operate under an alternative practice structure consistent with professional standards, with Smith + Howard P.C., a licensed CPA firm, providing attest services and Smith + Howard Advisory LLC providing tax and advisory services. William Blair and Baird & Co. acted as financial advisors to Smith + Howard and Broad Sky, and Guggenheim Securities served as financial advisor to TPG.
Smith + Howard, which employs approximately 800 professionals across seven southeastern and southern states, said the capital will bolster expansion in operational infrastructure, technology, talent, and client service offerings. The partnership is also expected to accelerate the firm's efforts to integrate AI into workflows, a priority the firm says will create additional capacity for professionals as it grows. Smith + Howard has been recognized as one of the Fastest-Growing CPA Firms in the U.S. and continues to climb the Accounting Today Top 100 ranking. The firm will continue operating under its existing brand and leadership team, with CEO Sean Taylor leading the business.
TPG Growth's Max Wein said the firm's early investments in technology and AI-enabled capabilities align with TPG's business-building model. Broad Sky CEO Tyler Zachem described the deal as emblematic of the firm's strategy of partnering with management teams in high-growth professional services markets. A separate trade report indicates Smith + Howard plans to acquire 8-12 firms within 18 months, focusing on practices with $5-20 million in revenue. The report also notes that Thrive-backed Crete has $500 million to consolidate small CPA firms and rebuild them around AI, reflecting a wider wave of private capital entering the accounting sector.
After closing, Smith + Howard will operate under an alternative practice structure consistent with professional standards, with Smith + Howard P.C., a licensed CPA firm, providing attest services and Smith + Howard Advisory LLC providing tax and advisory services. William Blair and Baird & Co. acted as financial advisors to Smith + Howard and Broad Sky, and Guggenheim Securities served as financial advisor to TPG.
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