According to CPA Trendlines’ CPA PE Deal Tracker, which we must say is absolutely amazing, private equity firms are no longer gobbling up accounting firms like they were. Deal volume peaked in the spring and has mostly held steady since:
Going into the fourth quarter of 2026, Wall Street’s buying spree for accounting firms is cooling as platform firms digest a two-year surge of acquisitions and the earliest investors, from three to five years ago, begin to cash out, according to the CPA Trendlines CPA PE Deal Tracker™.
The October 2026 edition shows 37 acquisitions in the US and Canada for the third quarter compared to 42 for the same period last year.
As you may remember, Citrin Cooperman properly kicked off the “flip” portion of the in early 2025 when New Mountain Capital, who invested in the firm back in 2022, passed them over to Blackstone. So expect to see some more of that in the months and years ahead.
CPA PE Deal Tracker™: The Next Deal Cycle Comes into View [CPA Trendlines]
