46% of accounting firms said they would be keen to take private equity backing, while over one quarter (27%) of the accountancy firms that responded to Kingsley Napley’s survey said they are already backed by private equity investors.

More staggering is that 86% said they had been approached by private equity houses and other external investors in 2024. Many mid-tier firms have decided to go down that route, including Evelyn Partners, Grant Thornton, Azets, Sumer, Xeinadin, Cooper Parry and several more.

However, 54% of respondents said they were not and never will be interested in taking private equity backing.