Private equity investment is undoubtedly fuelling rapid expansion among mid-tier accountancy firms, as noted in this year’s exclusive Business & Accountancy Daily Top 75 Firms survey.

Research from ICAEW has found that only 5% of independent firms are likely to accept private equity investment (PEI) in 2026, down from 15% a year prior.

Titled ‘Evolution of Mid-Tier Accountancy Firms’, the research had the managing partners and CEOs of 35 mid-tier ICAEW member firms take part in the tracking of ‘key trends’ in firms.

The research suggested that a smaller number of independent firms are likely to accept PEI in the next three years. ‘Appetite for PEI may be reaching a plateau across the firms responding,’ the report found.

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