Atlanta-based IPA 100 firm Frazier & Deeter LLC (FD) (FY23 net revenue of $163.1 million) announced a strategic growth investment from General Atlantic, a leading global investor. The investment also included the participation of PSP Capital Partners and Aksia.
This investment from General Atlantic will enable FD to better serve its clients across key industry segments and geographic regions by providing the capital and resources for critical technological advancements, strategic expansion initiatives and the buildout of FD’s high-demand service offerings.
“General Atlantic is a valuable growth partner, offering a unique perspective on our industry and the clients we serve,” says Seth McDaniel, MP at Frazier & Deeter. “This investment positions FD to remain at the forefront of our sector’s evolution as we continue to invest in the technology and tools to best support our clients.”
Jeremy Jones, COO and incoming MP, adds, “It’s an important and energizing time for the Firm as we work to further deliver more value for our clients as their businesses evolve. We’re focused on continuing to grow our resources to exceed the market’s expectations and guide our clients on their next steps into the future.”
“Frazier & Deeter has established itself as a preeminent accounting, tax, and advisory services firm, and we have been impressed with the firm’s strong operational foundation, client-centric approach and entrepreneurial culture. We believe Frazier & Deeter is positioned to continue its strong growth, and we look forward to supporting the firm’s leadership, partners and employees to advance the firm’s long-term ambitions,” says Paul Stamas, managing director and global head of financial services for General Atlantic.
Terms of the transaction are not disclosed. Following the close of the transaction, Frazier & Deeter LLC, a licensed, global CPA firm will provide attest services, and Frazier & Deeter Advisory LLC, will provide business advisory, tax and other non-attest services across its global footprint. Although separately owned and governed, both entities will utilize Frazier & Deeter as their world-wide brand name, allowing partners and professionals to continue collaborating seamlessly and delivering integrated client experiences.
