Top 20 Firm Crowe will receive an investment from private equity giant KKR, making it among the largest accounting firms to take PE money.
The capital will be used to continue Crowe's existing business strategy and invest in talent, technology and innovation. The transaction is expected to close in the third quarter of this year.
As is common with these kinds of private equity deals, Crowe will separate its attest and non-attest services into Crowe LLP and Crowe Advisory LLC, respectively. KKR will invest in Crowe Advisory through its North America Fund XIV.
"At its core, this strategic partnership is about staying ahead of what our clients need and making sure we're equipped to deliver," Crowe CEO Steven Strammello said in a statement. "We have a strong strategy and real momentum, and this investment helps us take the next step. With KKR's support, we will invest even more deeply in our people, our capabilities and the quality we're known for. We've built something special at Crowe over the past 80 years, and our culture and values will continue to define how we move forward."
Crowe, based in Chicago, ranked No. 12 on Accounting Today's 2026
"Crowe's distinct culture and outstanding talent have enabled it to build trusted client relationships and a reputation as an advisor of choice," KKR partner Chris Harrington said in a statement. "We are excited to partner with the Crowe team to support its continued growth and investment in next-generation client capabilities, while staying true to its core values, independence, and client service."
Harris Williams is serving as financial adviser to Crowe. Hunton Andrews Kurth is serving as legal adviser to Crowe with Mayer Brown serving as advisor to Crowe's board of directors. William Blair & Company is serving as financial adviser and Kirkland & Ellis is serving as legal adviser to KKR.
