Chicago-based Crowe completed the sale of a stake in the firm to KKR on Aug. 7, making it one of the largest accounting firms in the U.S. to receive a private equity infusion.
The deal was announced on June 11. Crowe is the 12th-largest accounting firm in the U.S. by revenue, according to INSIDE Public Accounting’s recently released 2026 ranking of the top 500 firms.
The investment from KKR will accelerate Crowe’s existing business strategy, as well as facilitate continued investments in talent, technology, and innovation, further enhancing the firm’s capabilities and client service, officials said in June.
With the completion of the transaction, Crowe Advisory LLC will provide tax, advisory, and other non-attest services, while Crowe LLP will remain a licensed CPA firm and continue to provide attest services, including audits and reviews.
Both firms will continue to serve clients as members of the Crowe Global network.
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“Crowe’s existing business strategy is driving momentum across our service lines, and we have bold ambitions to significantly grow the platform for the benefit of clients and team members alike,” Crowe CEO Steven Strammello said in a statement on Aug. 7. “Our strategic partnership with KKR empowers Crowe to make even more investments in talent, technology, and innovation, resulting in a firm with greater reach and broader capabilities. Our unique values and focus on quality have defined Crowe throughout its history and will continue to underpin our success. The only thing that changes is our capacity to do even more for our clients, bringing more of the firm to them.”
“Crowe has built an outstanding business, with deep industry expertise, trusted client relationships and a clear strategy for continued growth,” added Chris Harrington, partner at KKR. “Our investment reflects confidence in the Crowe team and the many compelling opportunities ahead.”
Harris Williams served as financial adviser to Crowe. Hunton Andrews Kurth LLP served as legal adviser to Crowe with Mayer Brown LLP serving as adviser to Crowe’s board of directors. William Blair & Company LLC served as financial adviser and Kirkland & Ellis LLP served as legal adviser to KKR.
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