CFGI, a national provider of high-end technical accounting and finance
advisory services, today announced it has acquired Pine Hill Group, a
leading accounting and transaction advisory firm with offices in
Philadelphia, New York City, and Princeton, N.J. CFGI is a portfolio
company of The Carlyle Group (NASDAQ: CG). Terms of the acquisition were
Founded in 2007, Pine Hill Group provides public, private and private
equity clients with integrated technical accounting and financial
reporting advice during every stage of the business lifecycle. Comprised
of multidisciplinary professionals with a distinctive combination of
corporate and Big Four firm experience, Pine Hill Group delivers the
highest levels of expertise across a comprehensive suite of accounting
and advisory services.
With this acquisition, CFGI expands its reach into key markets and lays
the foundation for expanded offerings in an increasingly complex
regulatory market. New offerings now include Pine Hill’s robust
transaction advisory services, with an expanded national footprint that
includes Boston, New York, New Jersey, Connecticut, Philadelphia, San
Francisco, and Washington DC.
“CFGI is building on its position as a national leader for accounting
and finance advisory services and aims to be the go-to partner for every
CFO and finance executive nationwide. The addition of Pine Hill Group
gains us both a leadership position within the Philadelphia market and
the addition of a leading transactions services advisory team,” said
Shane Caiazzo, CFGI co-chief executive officer.
CFGI Co-CEO Nick Nardone said, “Together, Pine Hill and CFGI maintain
our commitment to cultivating top talent and delivering outstanding
client service, while expanding our ability to serve public, private and
private equity clients in sophisticated technical accounting matters.
The fact that all eight partners at Pine Hill are joining CFGI speaks
volumes about our shared vision of growth as a company.”
“Since its founding in 2007, Pine Hill’s Big Four firm expertise,
first-hand industry experience and boutique touch have enabled us to
deliver the highest quality consulting services to clients,” said Chuck
Jacobson, Pine Hill Group CEO. “With CFGI, we have found a likeminded
partner and an established financial sponsor as a Carlyle-backed
company. I’m extremely excited about the future and what this
combination will offer both our employees and our clients.”
CFGI provides its clients with technical accounting advisory services,
risk advisory, interim management, valuation, corporate tax, private
equity services, finance transformation and robotic process automation
(RPA), and transaction advisory services.
The combined business will have annual revenues of more than $150
million and serves a diverse customer base across a wide variety of
industries including life sciences, manufacturing and distribution,
private equity, technology, software, energy and financial services.
JMP Securities served as financial advisor to Pine Hill in connection
with the transaction. Global PMI Partners is serving as post-merger
integration advisor to CFGI in connection with the transaction.
CFGI is a unique and highly specialized financial consulting firm that
is strategically positioned to help companies through a range of routine
and complex business scenarios. As an extension of your corporate
finance team, CFGI works alongside your internal staff, serving in a
variety of roles – from technical accounting or finance transformation
advisor to IPO and M&A support to Controller or CFO – and delivering
seamless support services. CFGI is a Carlyle Group portfolio company. To
learn more, visit www.cfgi.com.
About Pine Hill Group
Founded in 2007, Pine Hill Group is an accounting consultancy and
transaction advisory firm collaborating closely with clients to achieve
their most critical and complex business objectives. From offices in
Philadelphia, New York City and Princeton, Pine Hill Group provides
public, private and private equity clients with integrated technical
accounting, and financial reporting advice during every stage of the
business lifecycle. Comprised of multidisciplinary professionals with a
distinctive combination of corporate and Big Four firm experience, Pine
Hill Group delivers the highest levels of expertise across a
comprehensive suite of accounting and advisory services.
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