Growth among the IPA 100 firms has surged in recent years.
Last year, the No. 1 fastest-growing IPA 100 firm, counting mergers as well as organic growth, was Atlanta-based Aprio at an eye-popping 85.7%. In 2019, it was Tulsa, Okla.-based HoganTaylor at 31.0%.
The pace of mergers and acquisitions has quickened since then, driven in part by the entry of private equity into the profession, starting with EisnerAmper’s deal with TowerBrook Capital Partners in 2021. PE investments followed in Grant Thornton, Baker Tilly, Citrin Cooperman, Cherry Bekaert, Sikich, Warren Averett, Schellman and Smith + Howard. Aprio, which is ranked No. 28 on the IPA 100 list, announced its own private equity infusion on July 12.
These firms with bigger war chests have been using some of the money to buy other firms and expand their geographical footprint. EisnerAmper has merged in two firms so far this year alone. Will a PE-funded firm be named the fastest-growing for 2024?
Look out for the August issue of INSIDE Public Accounting, where you will find the rankings of the top 500 firms in the nation. Subscribe today.
