Accordion (company)
| Private Company | |
| Founded | 2009 |
| Founder | Nick Leopard |
| Headquarters | New York City, New York (state), United States. |
Area served | United States |
Key people | Nick Leopard (CEO & Founder)[1] Atul Aggarwal (President) Jon Apter (CFO) |
| Services | Corporate Finance Financial Adviser Forensic Accounting Turnaround Restructuring Management consulting |
Number of employees | 270+ |
| Website | Accordion.com |
Accordion is a private equity-focused business advisor and management consulting firm headquartered in New York, NY. The firm specializes in corporate and strategic finance, merger and acquisition execution, public company readiness, turnaround and restructuring, and technology.
History
Accordion was founded in 2009 as Accordion Partners LLC by Nick Leopard, a former Bear Stearns investment banker.[2] According to The Wall Street Journal, the firm "specializes in services for the chief financial officers and finance teams at private-equity portfolio companies." [3]
In 2017, Accordion announced the expansion of their services into California with the opening of their San Francisco office.[4]
In 2018, the private equity firm Friedman Fleischer & Lowe took a minority stake in Accordion.[5]
Atul Aggarwal joined as president in April 2019[6] to support the firm's new operating model and accelerate growth.[7] Aggarwal was previously a Partner at Bain & Company. Accordion also expanded into Dallas in 2019.[8]
In March 2020, Accordion launched Maestro, a software platform designed to maximize value in private equity-backed companies.[9] Maestro would go on to be spun off and secured $7,200,000 in a Series A round of funding led by S&P Global Market Intelligence.[10]
In May 2021, the company acquired turnaround and restructuring firm Mackinac Partners.[11] Following this acquisition in 2021, Accordion also announced an expansion into Los Angeles.[12]
Early in 2022, Accordion acquired the Enterprise Performance Management consulting firm Platform Specialists.[13] In June of 2022, they announced their Dallas office expansion and move Uptown[14] and provided American City Business Journals with an update of trends they were seeing in the private equity market.[15]
In August 2022, Accordion acquired ABACI, an Enterprise Resourcing Planning (ERP) and Enterprise Performance Management (EPM) consultancy.[16] The following month, FFL Partners sold their stake in Accordion to Charlesbank Capital Partners and Motive Partners.[17][18] In November 2022, Accordion Managing Director and Co-Head of their Western Region Rishi Jain was hired to help guide FTX through Chapter 11.[19]
Industry Reports
Accordion publishes a regular report in which the company surveys 100 private equity backed Chief financial officer|CFOs and 100 private equity senior executives on the relationship between PE-backed CFOs and their sponsors, called "The State of the PE Sponsor-CFO Relationship". The Wall Street Journal reported on both the 2019 and 2021 survey findings.[20][21]
Office Locations
Accordion is headquartered at One Vanderbilt,[22] in New York City, with offices in Atlanta, Boston, Charlotte, Chicago, Dallas, Detroit, Los Angeles, San Francisco, and South Florida.[23]
References
- ↑ "Q&A: Discussing the evolving role of the portfolio company CFO with Accordion Partners". Pitchbook. May 20, 2016.
- ↑ "A Private Word With Nick Leopard". WSJ. September 6, 2016.
- ↑ "FFL Provides Growth-Equity Investment for Accordion Partners". WSJ. October 10, 2018.
- ↑ "Firm opens S.F. office to help private equity investors embrace tech's growth". San Francisco Business Times. June 13, 2017.
- ↑ "FFL Provides Growth-Equity Investment for Accordion Partners". WSJ. October 10, 2018.
- ↑ "Bain veteran named president of Accordion". S&P Global. April 30, 2019.
- ↑ "Accordion Announces New Operating Model to Support and Accelerate Growth". Business Insider. October 24, 2019.
- ↑ "Private equity consulting firm Accordion Partners takes Uptown office, eyes nearly doubled headcount". Dallas Business Journal. June 8, 2022.
- ↑ "Accordion Formally Launches Maestro, The First Software Platform Built to Maximize Value In Private Equity-Backed Companies". PR Web. March 4, 2020.
- ↑ "Maestro Secures $7.2 Million in Series A to Grow Portfolio Management Platform Built for Private Equity". PR Web. November 10, 2020.
- ↑ "Accordion Announces Strategic Acquisition of Turnaround and Restructuring Firm, Mackinac Partners". Yahoo. May 11, 2021.
- ↑ "Accordion Announces Formal LA Expansion". Business Wire. December 8, 2021.
- ↑ "Accordion Announces Strategic Acquisition of CFO Tech-Enablement Provider Platform Specialists". Yahoo. February 23, 2022.
- ↑ "Private equity consulting firm Accordion Partners takes Uptown office, eyes nearly doubled headcount". Dallas Business Journal. June 8, 2022.
- ↑ "Junaid Samnani shares how private equity-owned businesses can brace for tough times". Dallas Business Journal. June 9, 2022.
- ↑ "Accordion Acquires ABACI". ChannelE2E. August 8, 2022.
- ↑ "FFL Sells Stake in CFO-Services Provider Accordion to Charlesbank, Motive". Wall Street Journal. September 8, 2022.
- ↑ "Charlesbank Capital and Motive Partners Invest in Accordion". The Middle Market. September 9, 2022.
- ↑ "FTX may have more than 1 million creditors". BankingDive. November 15, 2022.
- ↑ "PE Firms Often Fall Short of Portfolio Company CFO Expectations, Survey Shows". WSJ. August 1, 2019.
- ↑ "Kreutzer's Take: Covid Adds to Job Worries of Portfolio-Company CFOs". WSJ. January 12, 2022.
- ↑ "How a Private Equity Firm Struck a Balance at 1 Vanderbilt". Commercial Observer. May 24, 2022.
- ↑ "Locations". Accordion. Retrieved May 10, 2022.
External links
This article "Accordion (company)" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.