Accordion, a private equity financial consultancy and portfolio management company, has received a ‘significant’ minority investment from FFL Partners.
This capital boost will be used to expand Accordion’s service offerings, hire more staff and further its geographic expansion. Proceeds will also be used to boost development of its portfolio operations SaaS platform.
Founded in 2009, Accordion provides the private equity space with financial consulting services and portfolio operations technology. Its services include operational and technical accounting, strategic financial planning and analysis, transaction execution and performance improvement.
The platform helps sponsor management teams to ease and improve FP&A, M&A and performance.
Part of the investment will be used to move into new markets across the US and Europe. The company recently opened new offices in San Francisco and Boston – its headquarters are still located in New York.
In tandem with expanding its operations, the company is hoping to hire more staff. Accordion has made a number of additions to its team this year at the managing director level.
The final project to receive a slice of the equity injection, will be the company’s in-development SaaS platform. This solution uses the expertise of the firm to institutionalise how private equity firms tackle portfolio operations.
Accordion CEO and founder Nick Leopard said, “We’re immensely proud of the brand we’ve built, which starts and ends with our team of roll-up-their-sleeve experts who blend strategic thinking with technical skills.
“But, we also recognize the growing opportunity presented by a maturing and competitive private equity industry that now embraces the role of value creation in a successful investment strategy. FFL’s partnership will help us execute our vision to shape a new era in private equity and seize on the tremendous market opportunity in front of us.â€
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