Moore Global’s Revenue Reaches All-Time High After Private Equity Investment

In 2024, Moore Global, a prominent accountancy network, announced record-breaking revenues of $5.1 billion, showing a 13% increase from the previous year. The firm’s growth can be attributed to both organic expansion and the incorporation of 14 new firms into its network.

Private equity investment played a crucial role in Moore Global’s success, with six of the top ten member firms receiving investment from private equity sources. Notably, Citrin Cooperman, a firm based in the United States, is among the companies that have benefited from this type of funding.

Anton Colella, the CEO of Moore Global, highlighted the impact of private equity on the firm, describing it as a significant driver of cultural change. Private equity has facilitated the firm’s rapid expansion and technological advancements, particularly in fields such as artificial intelligence.

“Private equity brings a new level of commercial thinking to firms that were traditionally structured as partnerships,” Colella stated. “It has driven expansion, improved service offerings, and provided capital for necessary digital transformation.”

Accounting services experienced the most significant revenue growth, with a 29% increase, followed by tax services at 25% and advisory services at 15%. However, the audit and assurance sector saw a slight decline of 1%, reflecting challenges prevalent in the industry.

Private equity’s impact on Moore Global is in alignment with broader trends shaping mid-tier accountancy networks. The injection of funds has enabled firms to focus on critical areas such as talent acquisition, technological enhancements, and the expansion of advisory services. These are areas of high demand as businesses navigate increasingly complex regulatory environments and constantly evolving financial strategies.

Looking ahead, Moore Global foresees sustained demand for advisory services, particularly with the anticipated rise in mergers and acquisitions activity. Private equity investments have positioned the firm for long-term growth, with leadership underscoring the role of such investments in enhancing competitiveness and facilitating digital transformation.