Broad Sky Partners, a private equity firm that partners with middle-market business services and consumer companies, has made a strategic investment in Smith + Howard, a US-based tax, accounting, and advisory firm. The investment marks Broad Sky’s third platform investment.
Smith + Howard specialises in tax, accounting, and advisory services to middle-market businesses, non-profits, and high-net-worth families. Broad Sky’s investment aims to accelerate Smith + Howard’s long-term growth initiatives, including expanding its advisory services, increasing its geographic footprint, and accelerating its technology solutions through acquisitions and other strategic investments.
Going forward, Smith + Howard PC and Smith + Howard Advisory LLC will operate in a structure commonly referred to as an “alternative practice structure.” In that arrangement, Smith + Howard PC, a licensed CPA firm, will continue to provide audit and other attest services to its clients, while Smith + Howard Advisory LLC will provide tax, accounting and advisory services to its clients.
Terms of the transaction have not been disclosed