Private equity firm FFL Partners exits Accordion

Private equity firm FPL Partners exits Accordion

Private equity firm FFL Partners has exited its position in Accordion, a private equity-focused FinTech consulting firm, selling its shares to Charlesbank Capital Partners.

This deal also includes investment from Motive Partners, a specialist private equity firm focused on FinTech.

The terms of the deal were not disclosed.

Accordion offers operational, technical accounting, strategic financial planning and analysis, CFO technology, transaction execution, public company readiness, interim leadership, turnaround and restructuring and other services.

Headquartered in New York, the company has offices in Atlanta, Boston, Charlotte, Chicago, Dallas, Detroit, Los Angeles, San Francisco, and South Florida.

FFL initially made a minority investment into Accordion in 2018. The capital helped the company expand its service offering, hire more staff and expand geographically.

Over the years, FFL helped bolster Accordion’s senior management team with the hiring of Atul Aggarwal from Bain & Company to serve as president.

FFL managing partner Cas Schneller said, “Accordion is an excellent example of FFL’s Sector Exploration and Expertise Development (‘SEED’) investment approach. We identified a secular trend of private equity firms becoming more focused on driving value creation and willing to outsource to best-of-breed specialists like Accordion.

“We began as a client of Accordion, and were so impressed by Accordion’s differentiated, execution-oriented consulting model and the vision of CEO Nick Leopard that we decided to become his investment partner.”

Earlier in the year, private equity firm KKR joined the $200m Series C funding round of identity-driven cyber resilience platform Semperis.

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