CFO Slice

Mergers and acquisitions among accounting firms continue to accelerate, with deal volume rising 26% year over year in 2025 and maintaining momentum into 2026, according to a Capstone Partners report. The study found that financial buyers now account for 54% of transactions, reflecting increased private equity investment and the growing use of alternative practice structures across the profession. The report also found that private equity fundraising for accounting services has strengthened, with sector-focused funds raising $12.7 billion year to date, up 16.1% from a year earlier. Median fund size has increased 23.6% to $581 million, signaling that investors are pursuing larger platform acquisitions while continuing to support add-on transactions. Capstone said accounting firms are expanding beyond traditional tax and audit services into advisory, technology, and consulting to address labor shortages, evolving client needs, and demand for guidance on recent tax reforms. The report also highlighted artificial intelligence readiness, operational efficiency, and organic growth as increasingly important factors for investors evaluating acquisition opportunities, supporting a positive outlook for accounting sector M&A through 2026.