Accordion Acquires EPM Consulting Firm Platform Specialists
Accordion, a technology consulting firm that serves private equity clients, has acquired enterprise performance management consulting firm Platform Specialists. Financial terms of the deal were not disclosed.
This is technology M&A deal number 210 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021, and 2020 listed here.
In this deal, Accordion gains 26 employees who have FinTech, cloud migration, analytics and robotic process automation (RPA) expertise, the buyer said.
Accordion Acquires Platform Specialists
Platform Specialists is an enterprise performance management (EPM) consulting firm. Specializing in EPM technologies like Anaplan, Oracle EPM and Workiva, the firm’s practitioners are experts in financial budgeting, forecasting and planning, financial consolidations and close, business intelligence and analytics and financial reporting, according to Platform Specialists.
Accordion is a private equity-focused financial and technology consulting firm that focuses on the CFO function within the private capital sector, including operational and technical accounting, strategic financial planning and analysis, CFO technology, transaction execution, public company readiness, interim leadership and turnaround and restructuring, the company said. Accordion has a total of nine offices across the U.S. including its headquarters in New York and locations in Boston, Charlotte, Chicago, Dallas, Detroit, Los Angeles, San Francisco, and South Florida.
The acquisition of Platform Specialists enables Accordion to enhance its tech advisory expertise and capabilities related to technology-enabled forecasting and planning, close and consolidation processes and reporting and analytics, the company said.
Accordion Acquires Platform Specialists: Enhanced CFO Technology
Nick Leopard, CEO, Accordion, commented on the acquisition:
“We couldn’t be more excited to welcome Platform Specialists to the Accordion family, particularly during this moment when the role of digital enablement has never been more critical to PE-backed companies. When we conducted our recent report, ‘The State of the PE Sponsor-CFO Relationship,’ PE partners ranked finance process optimization as the number one area they would like their portfolio company finance departments to focus going forward. And 84% of CFOs acknowledged an immediate need to address and modernize their technology stack. Almost every stakeholder within the broader private capital space understands the criticality and urgency of technology enablement in order to scale and create value. This acquisition allows us to enhance our CFO Technology practice and become the singular digital enablement partner for PE-backed CFOs.”
Justin D’Onofrio, managing partner, Platform Specialists, added:
“We’re beyond excited to join the Accordion team. Our heritage is rooted in building platforms for financial intelligence within commercial organizations. This acquisition allows us to expand our reach into the PE industry, where digital enablement is an essential component to value creation. Perhaps more important, this acquisition combines two companies that share a passion for hands-on, results-oriented execution and value-driven solutions.”