Wipfli Partners with New Mountain Capital to Fuel Growth and Innovation

Wipfli, a prominent middle market provider of accounting, tax, and advisory services, has entered into a definitive agreement with New Mountain Capital for a significant minority investment. This partnership is set to propel Wipfli's growth trajectory, enabling further investments in talent and technology, and fostering innovation to benefit clients and employees alike. The investment underscores a shared vision for scaling with purpose and enhancing service delivery in the professional services industry.

With a history of strategic growth, including tripling in size and completing 34 acquisitions over the past decade, Wipfli has established itself as a leader in addressing the complex needs of mid-market organizations. The firm's advisory services, now nearly half of its total revenue, reflect its integrated approach to solving business challenges. The collaboration with New Mountain Capital, a firm with approximately $55 billion in assets under management, marks a pivotal moment for Wipfli to accelerate its growth and expand its impact.

Kurt Gresens, Managing Partner of Wipfli, emphasized the strategic nature of the partnership, stating, 'New Mountain gives us more capital and confidence to expand and deliver even greater value to our clients and our people.' Kelly Fisher, chief practice officer at Wipfli, highlighted the cultural alignment with New Mountain Capital, noting their appreciation for Wipfli's approachable style and deep client relationships.

New Mountain Capital's investment in Wipfli is part of its Strategic Equity effort, focusing on non-control investments in leading companies. Nikhil Devulapalli, managing director at New Mountain Capital, praised Wipfli's culture and growth track record, expressing enthusiasm for supporting the firm's investments in talent, technology, and acquisitions. Andre Moura, also a managing director at New Mountain Capital, pointed to the long-term growth potential in the accounting and advisory profession, aligning with the firm's defensive growth investment strategy.

The transaction, pending regulatory approval, will see Wipfli operating under an alternative practice structure to maintain the highest client service standards and focus on quality. This structure includes Wipfli LLP for attest services and Wipfli Advisory LLC for business advisory and non-attest services. The deal's financial and legal advisories include prominent firms such as Guggenheim Securities, LLC and Simpson Thacher & Bartlett LLP for Wipfli, and William Blair and Kirkland & Ellis LLP for New Mountain Capital.

This strategic investment not only signifies a new chapter for Wipfli but also highlights the growing importance of innovation and strategic partnerships in the accounting and advisory services sector. For more information on New Mountain Capital, visit https://www.newmountaincapital.com.