Canfield, Ohio-based IPA 100 firm HBK CPAs & Consultants (FY25 net revenue of $185.2 million) has announced an investment from an affiliate of H.I.G. Capital, establishing H.I.G. as HBK’s first institutional partner.
The transaction, expected to close in the fourth quarter of 2026, includes HBK CPAs & Consultants, HBKS Wealth Advisors and technology advisory practice Vertilocity. HBK and HBKS partners will continue to lead the businesses following the investment.
HBK will adopt an alternative practice structure before closing. Attest services, including audits and reviews, will continue to be provided by Hill Barth & King, which will remain owned and controlled by its CPA partners. Tax, consulting, accounting and technology services will be provided through HBK Advisory Group, while wealth management services will continue through HBKS Wealth Advisors.
“This partnership marks an exciting new chapter for HBK,” said Tom Angelo, CEO of HBK CPAs & Consultants. “In H.I.G., we found a partner that shares our values and our long-term vision, and that recognizes what makes HBK special.”
“Partnering with H.I.G. gives us the resources to scale our business and invest in the professionals and technology that matter most to our clients,” said Chris Allegretti, CEO of HBKS Wealth Advisors.
Houlihan Lokey served as financial advisor and Levenfeld Pearlstein served as legal counsel to HBK. William Blair served as financial advisor and Ropes & Gray served as legal counsel to H.I.G.
