Cleveland-based Meaden & Moore, an INSIDE Public Accounting top 200 firm, said Tuesday it has received a private equity investment from Unity Partners, the Dallas-based firm that has also invested in Chicago tax and accounting firm Prosperity Partners.
The financial details of Unity Partners’ investment in Meaden & Moore was not disclosed. The accounting, tax, advisory, and forensic consulting firm will continue to operate under its existing brand and leadership team.
As part of the transaction, Meaden & Moore will operate under an alternative practice structure. Meaden & Moore Ltd., a licensed CPA firm, will continue to provide attest services as a separate legal entity, while Meaden & Moore Advisors LLC will provide business advisory, tax, forensic, and other non-attest services.
“What attracted us to Meaden & Moore was its strong reputation, talented professionals, and collaborative culture,” Peter Cozzi, who leads the investment team at Unity Partners, said in a statement on July 7. “The firm’s commitment to excellence, employee development, and long-term growth aligns closely with our investment philosophy. We look forward to supporting the leadership team as they continue executing their vision for the future.”
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The investment will be used to expand Meaden & Moore’s services, enhance the client experience, and create new opportunities for the firm’s professionals, officials say. It will also provide additional resources to expand specialized capabilities, support innovation, invest in technology, and enhance the firm’s ability to address evolving client and market needs.
“We were looking for a partner who shared our values and supported our strategy for the future of the firm,” Meaden & Moore CEO Jim Rollins said in a statement. “Unity Partners demonstrated that commitment from day one, approaching the relationship as a true partner focused on supporting our people, preserving what makes Meaden & Moore unique, and helping us build for the future.
“This partnership marks an important milestone in our organization’s history, as our collaboration with Unity will enable us to invest further in our people, expand key capabilities, and continue delivering the high-quality, objective insights that our clients rely on,” he added. “Together, we are well-positioned to accelerate our growth strategy, capitalize on new opportunities, and thoughtfully scale in the years ahead. The partners here view us as stewards of a long legacy, and we believe this partnership with Unity best positions us to invest in the next generation and accelerate opportunities for our team.”
A key component of the deal is Meaden & Moore will implement an employee equity ownership model.
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“Our Employee Purpose Plan will complement Meaden & Moore’s strong organizational culture and bolster their ability to attract and retain key talent,” Jim Sharpe, partner and head of propel at Unity Partners, said in a statement. “As we prioritize value acceleration across critical operational areas, including technology and talent development, we are thrilled to be working together to help strengthen the business and advance its strategic growth objectives.”
Founded in 1919, Meaden & Moore has more than 250 professionals located in 15 offices across the U.S. and the United Kingdom.
The firm operates via two primary divisions: a forensic accounting practice focused on providing insurance and legal end markets with loss accounting, economic damages analyses, investigative services, litigation support, cyber risk services, and other forensic services; and an accounting and advisory practice focused on providing small and midsized businesses in the Midwest with tax, accounting, valuation, and other business advisory services.
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