#USA #Chicago #Investment #Crowe LLP #KKR

Crowe LLP and KKR: A Strategic Partnership for Growth

In a significant development in the accounting and consulting arena, Crowe LLP has successfully finalized an equity investment from global investment giant KKR. This strategic partnership is poised to propel Crowe's business strategy and expand its operational capabilities significantly. The collaboration signals KKR's firm belief in Crowe's unique business model and future growth potential.

The Vision Behind the Investment

Steven Strammello, the CEO of Crowe, expressed excitement about the new opportunities that this partnership will unlock. According to him, Crowe is poised for substantial growth, and the investment from KKR will enhance the firm's ability to invest in talent, technology, and innovation. This, in turn, will allow Crowe to provide an even greater breadth of services to its clientele.

Strammello emphasized, "Our strategic partnership with KKR empowers Crowe to make even more investments in talent, technology and innovation, resulting in a firm with greater reach and broader capabilities." He added that the firm's core values and commitment to quality, which have defined Crowe throughout its history, will remain intact, ensuring that they continue to meet client needs effectively.

Confidence in Crowe’s Future

Chris Harrington, a Partner at KKR, echoed Strammello's sentiments, stating that Crowe has built an impressive business, marked by deep industry expertise and robust client relationships. He expressed confidence that the structured investment would facilitate continued growth opportunities for Crowe.

With the closure of this investment, Crowe Advisory LLC is set to enhance its service offerings in tax, advisory, and other non-attestation services. Simultaneously, Crowe LLP will maintain its status as a licensed CPA firm, continuing to deliver attest services, such as audits and reviews. Both entities will work collaboratively as part of the Crowe Global network, which encompasses over 300 independent accounting and advisory firms in more than 150 countries.

Financial Strategies and Advisory Factors

The financial advisory roles in this transaction were played by Harris Williams, who served as the financial adviser to Crowe. On the legal side, Crowe was represented by the law firm Hunton Andrews Kurth LLP, while Mayer Brown LLP provided counsel to Crowe's Board of Directors. Meanwhile, KKR received financial advisory services from William Blair & Company, LLC, and was legally advised by Kirkland & Ellis LLP.

This multi-faceted approach ensures that both Crowe and KKR are well-positioned to capitalize on growth opportunities, reflecting a strategic alignment of interests.

About Crowe

Crowe, through its alternative practice model, delivers a wide array of professional services. While Crowe LLP focuses on audit and attest services, Crowe Advisory LLC specializes in tax, advisory, and consulting services. As part of the global network, both entities serve a diverse clientele across various sectors.

About KKR

KKR is recognized not only as a prominent global investment firm but also as a leader in providing alternative asset management solutions. With an aim to generate substantial investment returns through a disciplined approach, KKR invests across multiple asset classes and supports the growth of its portfolio companies while contributing positively to communities.

In conclusion, the strategic partnership between Crowe and KKR marks a pivotal moment in the evolution of Crowe's service capabilities, setting the stage for innovative solutions and expansive growth in the years to come.