Top 50 Firm HBK is getting an investment from H.I.G. Capital.
H.I.G. is an alternative investment firm based in Miami with $75 billion of capital under management. The transaction, which is with HBK's first institutional partner, is expected to close in the fourth quarter of 2026.
"This partnership marks an exciting new chapter for HBK," HBK CPAs & Consultants CEO Tom Angelo said in a statement Tuesday. "In H.I.G., we found a partner that shares our values and our long-term vision, and that recognizes what makes HBK special. With H.I.G.'s resources and experience, we will invest further in our people, our technology and our client service capabilities, expanding both what we can do for our clients and the opportunities we can create for our team, while preserving the culture that has defined our firm since 1949."
HBK, based in Canfield, Ohio, ranked No. 49 on Accounting Today's 2026 list of the
As is common with these kinds of investments, HBK will adopt an alternative practice structure, separating its attest services into Hill, Barth & King LLC, and its non-attest services into HBK Advisory Group LLC. Its wealth management services will continue to be provided by HBKS Wealth Advisors.
"Partnering with H.I.G. gives us the resources to scale our business and invest in the professionals and technology that matter most to our clients," HBKS Wealth Advisors CEO Chris Allegretti said in a statement. "HBKS clients will continue to work with the same advisors, in the same offices, under the same standard of care, as we continue to deliver comprehensive advice to individuals, families, and business owners."
H.I.G. managing director Chis Byrne said in a statement, "HBK is one of the most respected firms in accounting and wealth management, with more than 75 years of technical excellence and a reputation built on trusted, long-term client relationships. We are very impressed with the HBK team and how they have built the firm into an employer of choice across two highly attractive industries."
"The big question will be how long will it take for significant consolidation to take place within the existing platforms?" Koltin Consulting Group CEO Allan Koltin commented. "The history books tell us that 'welterweights' [firms with revenues under $250 million] either grow on their own to become middleweights, or they 'tuck' into a heavyweight three to five years later. … It will be interesting to see if HBK can emerge with the same success and organic and inorganic growth rates going forward."
Houlihan Lokey served as financial advisor and Levenfeld Pearlstein LLC as legal counsel to HBK, while William Blair served as financial advisor and Ropes & Gray LLP as legal counsel to H.I.G.
