Private equity-backed tax and accounting firm Prosperity Partners said Tuesday it has acquired Vienna, VA-based transaction services firm Pipaya.
Financial terms of the deal weren’t disclosed.
Led by Adam Strach, who founded the firm in 2009, Pipaya is a transaction advisory firm with expertise in the aerospace, defense, and government services industries. It focuses on providing sell-side and buy-side quality of earnings, M&A readiness, and accounting and integration support for founder/owner operators and private equity investors. Over the past 15 years, the firm has advised on more than 200 transactions totaling over $12 billion in transaction value.
“I’m thrilled to add the Pipaya team to our growing firm,” Jeremy Dubow, CEO and co-founder of Prosperity Partners, said in a statement. “Under Adam’s leadership, Pipaya has developed a reputation for making the complex simple with a solutions-oriented approach to transaction support. That ethos will remain central to Pipaya’s culture and work as part of the Prosperity platform. Adam has developed a phenomenal team and this new service line will allow us to better serve the existing clients of both Prosperity and Pipaya.”
Founded in 2003 as NDH Advisors by three Arthur Andersen alums, Chicago-based Prosperity Partners received an equity investment from Unity Partners, a Dallas-based private equity firm, in 2023. Since then, Prosperity Partners has added offices in Kansas City, Houston, Philadelphia, Santa Barbara, CA, Detroit, Washington, D.C., and Burlington, VT.
Prosperity Partners serves businesses, high-net-worth individuals, and family offices throughout the U.S. The firm provides tax advisory, tax consulting, tax preparation, valuation, outsourced back-office accounting, fractional CFO, litigation support, and startup business services.
All Pipaya employees will become part of Prosperity’s Employee Purpose Plan, a broad-based employee ownership program that allows qualifying employees to benefit from the firm’s success.
“Prosperity Partners’ focus on caring for and listening to their clients and people really resonated with me,” said Strach. “I’m excited to put our combined expertise to work simplifying and improving our clients’ businesses and transactions as part of Prosperity.”
“We’re pleased that Prosperity is continuing its strong momentum with this acquisition,” added Peter Cozzi, team lead at Unity Partners. “Pipaya’s expertise and culture of exceptional service are perfectly aligned with Prosperity’s goals and their addition expands our long-term growth opportunity.”
Citizens Capital Markets & Advisory served as exclusive financial advisor to Pipaya, and Miles & Stockbridge PC served as legal counsel. Kirkland & Ellis LLP served as legal advisor to Prosperity.
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