Investcorp, a leading global alternative investment firm, in partnership with the Public Sector Pension Investment Board (PSP Investments)  has announced their strategic growth investment in PKF O’Connor Davies (PKFOD), one of the largest accounting, tax and advisory firms in the US.

 

This transaction represents a significant milestone for PKFOD, adding two experienced investors that will help fuel growth and expand service offerings to enhance the overall client experience, said Bahrain-based group in a statement. 

 

Investcorp has a well-established track record of investing in specialized professional services firms with notable investments including AlixPartners, ICR, Resultant, United Talent Agency and CrossCountry Consulting.

 

This partnership with PKFOD will elevate the US firm’s competitiveness and amplify long-term sustainability. The strengthened balance sheet will provide flexibility for increased M&A activity as well as investing in cutting-edge technology and new service lines, it stated.

 

Yusef al Yusef, the Global Head of Distribution at Investcorp, said: "As leading professional services firms have welcomed private capital investment over the last two decades, Investcorp has been ahead of industry trends, partnering with talented, entrepreneurial management teams and professional investors to drive growth in the sector." 

 

"We have seen strong performance in the professional services sector and from PKFOD, making this an attractive investment opportunity for Investcorp. With strong leadership in place, we anticipate great opportunities for PKFOD in the years ahead and look forward to working with them to unlock further growth potential," he stated.

 

David Morin, Managing Director and Head of North America, Private Equity at PSP Investments, said: "We are excited to partner with Investcorp and PKFOD to provide strategic capital and work together in realizing PKFOD’s full potential during their next chapter of growth."

 

Kevin Keane, Executive Chairman at PKF O’Connor Davies, said: "Since inception, our identity as a Firm has been our enduring commitment to service. This investment from Investcorp and PSP Investments further validates that we have an attractive business with a great brand, great talent, and great customers."

 

"Both Investcorp and PSP Investments have a long history of backing profitable, industry-leading companies with demonstratable growth avenues and were impressed by PKFOD and the culture that we have built," noted Keane.

 

Going forward, PKFOD will continue to operate in an alternative practice structure in accordance with applicable professional standards where PKF O'Connor Davies LLP, a licensed CPA firm, will continue to provide attest services and PKF O'Connor Davies Advisory LLC and its subsidiary entities will continue to provide tax and advisory services, he added.-TradeArabia News Service