Category: Accounting & CPA

Accounting & CPA Business Brokers

Accounting firms are in the middle of a generational consolidation — PE-backed platforms are paying multiples that would have looked absurd five years ago for the right combination of recurring revenue, staff retention, and vertical specialization.

The accounting industry crossed a threshold in 2021 when TowerBrook took a majority stake in EisnerAmper — the first time a top-100 CPA firm went PE. Since then Ascend Partner Firms (backed by Alpine Investors), Aprio (Charlesbank), Baker Tilly (Hellman & Friedman + Valeas), Springline Advisory, Rise Growth Partners, Elliott Davis, and Citrin Cooperman have deployed billions to consolidate mid-market accounting. Sub-$5M-revenue independent firms are the primary bolt-on target. Multiples have moved from historical 1.0–1.2x revenue (or 4–6x EBITDA) to 1.4–1.8x revenue / 8–12x EBITDA for firms with strong recurring compliance work, an advisory practice, and demonstrable partner-succession bench. The CPA talent shortage is the single biggest structural tailwind — every acquirer is buying people at least as much as they're buying revenue.

4 vetted brokers on the platform specialize in Accounting & CPA sales, including featured operators like Sukhrobjon (Rob) Ismoilov (Main Street Wealth M&A Advisors), Aslan Rustamov (Main Street Wealth M&A Advisors), Umid Nurmuhamedov (Main Street Wealth M&A Advisors). Each carries the credentials — CBI, state licensure where required, IBBA membership — and a documented deal history that a serious Accounting & CPA owner should expect to see before signing an engagement.

Get matched to Accounting & CPA brokers Accounting & CPA valuation guide

Accounting & CPA · instant estimate

What's your accounting & cpa business worth?

Real Main Street benchmarks. Numbers update as you type — no signup, no wait.

Annual revenue (TTM)

Owner benefit / SDE

Profit + owner comp + owner add-backs

Who's buying

Active Accounting & CPA platforms & buyer types

If you're preparing a accounting & cpa exit, these are the buyer pools you should be measuring your business against.

Rollup platforms

• Ascend Partner Firms (Alpine Investors)
• Aprio (Charlesbank Capital Partners)
• Baker Tilly (Hellman & Friedman + Valeas Capital)
• EisnerAmper (TowerBrook)
• Citrin Cooperman (New Mountain Capital)
• Springline Advisory (Trinity Hunt)

Buyer archetypes

• PE-backed accounting platforms (Ascend, Aprio, Springline, Rise)
• Regional / super-regional CPA firms with M&A programs
• National CPA firms (Baker Tilly, EisnerAmper, Citrin Cooperman)
• Adjacent professional-services strategic acquirers (wealth, HR, tech)
• Individual practitioner rollups (sub-$2M revenue tuck-ins)

What buyers underwrite

Key metrics in accounting & cpa valuations

Recurring compliance revenue percentage

Percentage of revenue from recurring engagements — monthly bookkeeping, quarterly reviews, annual tax + audit compliance. 70%+ is the threshold that turns a project-shop into an annuity buyers will pay premium multiples for.

Advisory / CAS revenue mix

Percent of revenue from client accounting services (CAS), CFO / controller outsourcing, and higher-value advisory work. Buyers pay premiums for firms that have transitioned beyond commodity 1040s and 1120s.

Partner-succession bench

Number of non-owner senior managers or partners on track to buy in. Owner-only firms trade at meaningfully lower multiples because the buyer inherits full succession risk.

Client concentration

Percentage of revenue from the top 10 clients. Buyers discount firms with above 25% concentration in any single client and heavily discount above 40%.

Vertical specialization

Firms with a dominant vertical (construction, medical, real estate, dental, cannabis, ERC-adjacent) command premiums to generalist firms because the client base is stickier and the expertise doesn't commoditize.

Specialists

4 brokers specialize in Accounting & CPA

Every broker holds a CBI credential and has closed accounting & cpa transactions in the last 24 months.

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Accounting & CPA brokers by state

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Frequently asked

Accounting & CPA sale FAQ

How is my accounting firm valued?

The market prices in both revenue multiples and EBITDA multiples in parallel. Sub-$2M revenue firms trade at roughly 1.0–1.4x annual revenue (or 4–7x EBITDA). Firms above $2M with 70%+ recurring compliance revenue and a real advisory book trade at 1.4–1.8x revenue / 8–12x EBITDA. Vertical specialization, staff retention, and partner-succession bench are the biggest multiple drivers at every scale.

How long does it take to sell an accounting firm?

Plan on 6–10 months from initial outreach to close. PE-backed acquirers move quickly on well-prepared firms (60–90 days from LOI to close) but the up-front prep — cleaning up your KPI reporting, documenting your CAS/advisory revenue split, and getting your partner-succession story straight — is where 3–4 months of the timeline hides.

What drives higher multiples for accounting firms?

In order of impact: (1) recurring compliance revenue above 70%, (2) a real advisory / CAS practice contributing 20%+ of revenue, (3) at least one non-owner partner or senior manager on the succession track, (4) vertical or niche specialization, (5) low client concentration (top-10 clients under 25% of revenue), (6) a technology stack modern enough that a buyer platform can absorb you without a rip-and-replace.

Should I sell to a PE-backed platform or a regional firm?

PE-backed platforms (Ascend, Aprio, Springline) offer the highest headline multiples but require 3–5 year post-close commitments and structure with heavier earn-outs and equity rollover. Regional firms typically offer cleaner cash-at-close at slightly lower multiples. Partners planning to retire within 24 months are usually better served by a regional firm; partners with 5+ years of runway who want a second bite at the apple often prefer the PE platforms.

What kills an accounting-firm deal in diligence?

Three things dominate: (1) inability to disaggregate compliance, CAS, and advisory revenue in your financials — buyers can't price what you can't segment, (2) undisclosed staff departures during the process (turnover is a live-wire diligence item in the CPA-shortage environment), (3) a partner-owner who's on every material client relationship — that's inherited transition risk, not a firm to buy.

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