HBK receives strategic investment from H.I.G. Capital

HBK (Hill Barth & King LLC), a Canfield, Ohio-based accounting and consulting firm, has a received a strategic growth investment from H.I.G. Capital, a Miami-based private equity firm.

HBK’s partners will continue to lead the firm after the transaction’s expected closing in Q4 2026. The deal will make H.I.G Capital the accountancy’s first institutional partner since its founding 1949.

HBK joins the large group of US mid-market accountancies that have accepted private equity firm investment or ownership in the last several years, including Crowe, Sikich, and Grant Thornton.

The HBK business comprises HBK CPAs & Consultants, HBKS Wealth Advisors, and technology consulting practice Vertilocity. The firm has more than 600 employees listed on LinkedIn and has 27 offices across the US and India.

HBK is the 48th-largest CPA firm in the USA, according to Inside Public Accounting, with $185 million in annual revenue.

As is common under private equity transactions in the industry, HBK will take on an alternative practice structure that separates its attest and non-attest services into separate legal entities.

“This partnership marks an exciting new chapter for HBK. In H.I.G., we found a partner that shares our values and our long-term vision, and that recognizes what makes HBK special,” said Tom Angelo, CEO of HBK CPAs & Consultants.

Chris Allegretti, CEO of HBKS Wealth Advisors, added, "Partnering with H.I.G. gives us the resources to scale our business and invest in the professionals and technology that matter most to our clients.”

William Blair served as financial advisor to H.I.G on the transaction, while Houlihan Lokey served as financial advisor to HBK.

“HBK is one of the most respected firms in accounting and wealth management, with more than 75 years of technical excellence and a reputation built on trusted, long-term client relationships,” Chris Byrne, managing director at H.I.G., said. “We are thrilled to partner with Tom, Chris, and the entire HBK team to support the firm’s next phase of growth.”

H.I.G. provides debt and equity capital to mid-market companies, and has $75 billion in capital under management.