KKR & Co. and co-investors agreed to purchase a majority stake in Crowe LLP. The transaction values the accounting and consulting firm at nearly $3 billion. Crowe partners will retain a minority ownership stake.
The firm will reorganize into an alternative practice structure to facilitate the deal. KKR’s North America Fund XIV will invest in the newly formed Crowe Advisory LLC. Crowe Advisory LLC will manage tax, advisory, and non-attest services. The existing Crowe LLP will remain a licensed CPA firm focused on audit services.
Crowe will use the capital to invest in talent and technology like artificial intelligence. The deal reflects a growing trend of large accounting firms seeking private equity funding. The transaction expects to close in the third quarter of 2026, pending regulatory approvals.