Bend, OR-based firm Capstone Accounting and Tax, formerly known as Capstone CPAs, announced this week that it has received an outside investment from San Diego-based private equity firm Seaside Equity Partners.
Financial terms of the deal weren’t disclosed. Capstone’s leadership team will remain in place, ensuring continuity for both clients and employees as the firm moves forward, according to an April 4 media release.
In addition, Capstone said it’s refining its branding to better reflect the breadth of services it provides, which includes comprehensive tax, accounting, and advisory solutions. The firm has formally transitioned from Capstone CPAs LLC to Capstone Accounting and Tax.
As has been the case for other accounting firms that have sold stakes to private equity firms, including at least 15 of the top 50 firms by revenue in the U.S., Capstone said the outside capital will provide the financial and strategic support needed to accelerate its long-term growth, strengthen client service offerings, and expand its market presence through mergers and acquisitions.
The firm’s last M&A deal occurred in January 2024 when it combined with Crandall-Swenson PLLC, a full-service tax, accounting, and business consulting firm located in Boise, ID.
“We have always been committed to growing in a way that strengthens both our client relationships and our internal team,” Lance Brant, managing partner of Capstone Accounting and Tax, said in a statement. “Seaside aligns with our vision, providing not only targeted investment but also strategic resources that allow us to expand while continuing to offer the high-quality service our clients rely on. This partnership enables us to invest in our people, enhance our service offerings, and scale for the future.”
Seaside said it partners with companies headquartered in the western U.S. where it can provide more localized support and establish camaraderie with its partners’ management teams. Seaside is currently investing out of a $325 million investment vehicle that closed in December 2022, which focuses on partnering with founder, family, and entrepreneur-owned businesses.
“We are honored to partner with the Capstone team and believe the firm’s partners have built a marquee franchise poised for substantial growth,” said Hiral Pithadia, managing director of Seaside Equity Partners. “We are excited to deliver an even broader set of services to its current and future clients and to support their next phase of growth by providing additional resources and strategic partnership.”
Capstone Accounting and Tax is the brand name under which Capstone CPAs LLC and Capstone Accounting Services LLC provide professional services. Capstone CPAs and Capstone Accounting Services practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. Capstone CPAs is a licensed independent CPA firm that provides attest services to its clients, and Capstone Accounting Services, which isn’t a licensed CPA firm, provides tax and business consulting services to clients.
Founded in 2004, Capstone now has 11 offices more than150 employees across the Pacific Northwest.
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