Karbon allows all accounting firms to access practice marketplace
Karbon has opened its Practice Marketplace to all accounting firms interested in buying or selling their practices, providing a digital-first approach to facilitate firm acquisitions. This move follows the platform’s initial launch in September 2024, which was exclusively available to the company’s existing customers.
The expanded Practice Marketplace aims to connect firms with experienced professionals and advisors through the newly introduced Partners Marketplace. This feature links firms with mergers and acquisitions (M&A) advisors, Karbon-certified implementers, business coaches, and other professionals to offer guidance and support throughout the transition process.
By offering this supportive ecosystem, Karbon CEO Mary Delaney emphasized the importance of aligning culture, team, tech stack, and processes for a successful merger. Delaney highlighted how this initiative empowers accounting firms to thrive by providing opportunities for firms to sell their practices on the platform for a fee. Meanwhile, buyers are required to be fully implemented on Karbon before engaging in the purchase process.
The Practice Marketplace by Karbon is currently being utilized by firms from various regions, including the US, Canada, Australia, New Zealand, UK, and South Africa. This expanded reach comes at a time when industry consolidation is accelerating, and private equity interest in accounting firms is on the rise.
Karbon’s Practice Marketplace program lead, Joe Carufe, emphasized the platform’s ability to provide selling firms with exposure to a global network of top firms for successful exits. In addition to facilitating connections between buyers and sellers, Karbon is also collaborating with industry-leading M&A experts and business coaches to help firms navigate the rapidly evolving market dynamics.
This structured approach aims to support firms in succession planning and strategic growth, ensuring they are well-equipped to succeed in the changing landscape of the accounting industry. By integrating tools and processes within the Practice Marketplace, Karbon seeks to streamline the acquisition process and enhance efficiency for all parties involved.
Overall, Karbon’s decision to open its Practice Marketplace to all accounting firms signifies a commitment to supporting the growth and success of firms within the industry. Through the digital-first approach and access to experienced professionals, Karbon aims to empower accounting firms to thrive and flourish in the ever-evolving landscape of the accounting sector.
