1. News
May 10, 2024

Sikich gets minority growth investment of $250m from Bain Capital

The injection of funds from the private multi-asset alternative investment firm allows Sikich to access Bain Capital's broad range of resources, to drive rapid growth and strengthen operational effectiveness

Sikich, a technology-driven professional services firm headquartered in the US, has revealed that it secured a $250m minority growth investment from Bain Capital.

The investment by the private multi-asset alternative investment company enables Sikich to tap into Bain Capital’s extensive resources, fuelling accelerated growth and bolstering operational efficiency.

It is also expected to solidify Sikich’s position in the professional services sector, particularly during a period of rapid industry consolidation. Despite the investment, Sikich retains majority ownership in the company, and its current executive and leadership teams, under the guidance of CEO Christopher Geier, remain unchanged.

Since assuming the role of CEO in 2017, Geier has steered the firm’s growth, with revenue surging by almost 300%. Under his leadership, Sikich is said to have significantly broadened its geographic footprint, extending its services to clients across all major US markets.

Geier said: “We’ve been executing an ambitious growth and diversification strategy to capitalise on unique and favourable market conditions within an evolving professional services landscape, more than doubling in size over the last five years alone.

“Partnering with a leading global investor like Bain Capital is a testament to our strategy and provides us with additional meaningful resources and extensive knowledge to advance our mission and deliver on our value proposition to employees and clients.”

Established in 1982, Sikich offers an array of services including accounting, audit, tax, and consulting, along with digital transformation and business advisory services. It has a global workforce comprising approximately 2,000 employees.

Bain Capital made its investment via funds managed by Bain Capital Special Situations and Bain Capital Credit.

Bain Capital Special Situations partner Cristian Jitianu said: “We have watched Sikich thrive under Chris and his talented team’s leadership as they continue to set the industry standard across their leading accounting, technology and advisory solutions.

“As competition for talent and clients remains high, Sikich’s differentiated business model has enabled the company to gain share in a fragmented market.

“We are excited to support Sikich’s continued growth strategy, focused on acquisitions and strategic partnerships, with a tailored structure that maximises value creation while allowing Sikich to retain majority control of the business.”

PJT Park Hill provided financial advisory services, while Holland & Knight and Vedder Price served as legal advisers for Sikich. Bain Capital received legal counsel from Kirkland & Ellis and Hunton Andrews Kurth.