Does someone know whats up with PE acquiring all the accounting firms lately? Whats the goal here

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They want to make money. Just another profitable business sector to own and profit from

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They know boomers want one final cash out and fuck you to the younger generation so they are chasing out. PE firms know that accounting firms are very good at generating cash which means instant cash flows while finding so called efficiencies.

Positive cash flows, minimal working capital needs (basically all labor), etc

It’s definitely been happening a lot lately! I think private equity sees huge potential in accounting firms, especially for streamlining operations and expanding services. They’re likely looking to scale quickly and increase profitability, but it’s also about creating bigger, more competitive firms.

Would that mean they have less cash on hand too

And there are a lot of older CPAs retiring and not many young ones coming up who want to be partners. PE gives them a retirement payout. Personally I think it's sad. I wish the younger CPAs would take the reins

They found a new industry to exploit and ruin.

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