Wayne, Pa.-based IPA 300 firm Stephano Slack LLC (FY24 net revenue of $18.6 million) has received a strategic growth investment from Madison Dearborn Partners, with additional participation from co-investor Norlantic Capital.
The investment will support Stephano Slack’s growth strategy as the firm continues to invest in talent, innovation and expanded service offerings. Founded in 2004, the firm provides tax, audit, outsourced accounting and advisory services to middle-market clients and was recently named one of Accounting Today’s Fastest-Growing Firms of 2026. Stephano Slack will continue to operate under its current leadership team, led by Michael Stephano, CEO and MP, while Jim Brady, former COO of Grant Thornton and a 45-year accounting profession veteran, joins the firm as executive chairman, bringing extensive experience scaling professional services organizations, including 30 years with Deloitte.
“Our partnership with MDP, a firm that understands and embodies our commitment to exceptional relationship-driven client service, adds a compelling new growth driver to the Stephano Slack platform,” said Stephano. “MDP’s support will pave new avenues for Stephano Slack to grow and diversify our platform and will foster opportunities for both our clients and employees.”
“I’m eager to get started working alongside Michael, whom I have known personally and professionally for years, as the leader of a well-respected and growth-oriented firm,” said Brady. “I’m confident that our combined operational experience and passion for identifying opportunities and building talented teams will add to Stephano Slack’s strengths and position the firm for continued success.”
Following the transaction, the firm will operate in an alternative practice structure, with Stephano Slack LLC providing attest services and Stephano Slack Advisory LLC providing tax, advisory and other non-attest services.
