The accounting and CPA services industry serves businesses and individuals with tax preparation, audit, bookkeeping, advisory, and compliance services. The lower middle market segment is highly fragmented with tens of thousands of independent firms, making it an active target for consolidation by private equity-backed roll-up platforms and larger regional practices. Demand is largely non-discretionary, as tax compliance and financial reporting obligations exist regardless of economic conditions.
Who sells these: Founding CPA partners approaching retirement age (55–70), solo practitioners seeking liquidity, small regional firms with 2–5 partners looking to merge up, and owners facing succession challenges with no internal buyer
0.9–1.4×
Market multiple range
12–24 months
Avg. exit timeline
$1M–$5M
Typical deal size
SBA Eligible
Broader buyer pool
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Get free scoreTypical acquirer profile for Accounting/CPA Firm businesses
Regional CPA firms seeking geographic expansion, PE-backed accounting roll-up platforms, or experienced individual CPAs using SBA financing to acquire a book of business as their entry into ownership
Accounting/CPA Firm businesses typically sell for 0.9–1.4× EBITDA in the $1M–$5M range. Key value drivers include: High percentage of recurring monthly or annual retainer-based revenue; Diversified client base with no single client exceeding 10% of revenue; Strong staff depth with licensed CPAs who maintain independent client relationships.
Start by preparing your exit: Compile three years of reviewed or compiled financial statements and tax returns; Document all client relationships with signed engagement letters and fee schedules; Create a client roster with revenue by client, service type, and tenure. The typical buyer is: Regional CPA firms seeking geographic expansion, PE-backed accounting roll-up platforms, or experienced individual CPAs using SBA financing to acquire a book of business as their entry into ownership
The average exit timeline for a Accounting/CPA Firm business is 12–24 months. This includes preparation, marketing to buyers, due diligence, and closing.
Common value killers for Accounting/CPA Firm businesses include: Founder is the sole relationship holder for all major clients; Heavy seasonality with 60%+ of revenue concentrated in January through April; Verbal client agreements with no signed engagement letters or service contracts; High staff turnover or reliance on seasonal contractors without CPA credentials; Outdated technology requiring significant investment to modernize post-acquisition.
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