Meaden & Moore, a Cleveland-based accounting, tax, advisory and forensic accounting firm, took an investment from private equity firm Unity Partners.
The capital will be used to expand specialized capabilities, support innovation, invest in technology and more. As part of the deal, Meaden & Moore will implement an employee equity ownership model. It will continue operating under its current brand and leadership.
The firm has more than 250 professionals and offices across the U.S. and U.K.
"We were looking for a partner who shared our values and supported our strategy for the future of the firm," Meaden & Moore CEO Jim Rollins said in a statement Tuesday. "Unity Partners demonstrated that commitment from day one, approaching the relationship as a true partner focused on supporting our people, preserving what makes Meaden & Moore unique, and helping us build for the future."
As is common with these types of deals, Meaden & Moore will take on an alternative practice structure, splitting its attest and non-attest services into Meaden & Moore and Meaden & Moore Advisors, respectively. Terms of the deal were not disclosed.
"What attracted us to Meaden & Moore was its strong reputation, talented professionals and collaborative culture," Peter Cozzi, who leads the investment team at Unity Partners, said in a statement. "The firm's commitment to excellence, employee development and long-term growth aligns closely with our investment philosophy. We look forward to supporting the leadership team as they continue executing their vision for the future."
