PKF O'Connor Davies Announces Strategic Growth Investment from Investcorp and PSP Investments
Summary
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.This investment will elevate the Organizations competitiveness and amplify long-term sustainability. "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. Providing the Organization with additional resources will help accelerate growth and enhance its competitive position in the accounting, tax and advisory verticals," said Vitali Bourchtein, Principal at Investcorp. "We are excited to partner with Investcorp and PKFOD to provide strategic capital and work together in realizing PKFODs full potential during their next chapter of growth," added David Morin, Managing Director and Head of North America, Private Equity at PSP Investments.Going forward, PKFOD will continue to operate in an alternative practice structure in accordance with applicable professional standards where PKF OConnor Davies LLP, a licensed CPA firm, will continue to provide attest services and PKF OConnor Davies Advisory LLC and its subsidiary entities will continue to provide tax and advisory services.Terms of the transaction were not disclosed. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.