HIG Capital Invests in Accounting Firm HBK

H.I.G. Capital, a prominent global alternative investment firm with over $75 billion in assets under management, has secured a significant strategic growth investment in HBK, a leading integrated accounting and wealth management powerhouse in the United States. This marks the first time HBK, a firm with a rich history dating back to 1949, has welcomed institutional capital, signaling a new era of expansion for the established professional services group.

The investment, channeled through an affiliate of H.I.G. Capital, will empower HBK's existing partners to maintain leadership while injecting crucial capital to fuel its ambitious growth trajectory. This move aligns with a broader trend of private equity actively consolidating the fragmented accounting sector. Industry data reveals a dramatic shift, with nearly every firm recognized on Accounting Today’s Top 100 list in 2026 now benefiting from private equity backing, underscoring the sector's structural transformation.

HBK's integrated model encompasses a Top 50 US CPA practice, HBK CPAs & Consultants, alongside a highly-regarded wealth management arm, HBKS Wealth Advisors (recognized as a Barron’s Top 75 RIA), and a technology advisory affiliate, Vertilocity. Operating from 27 offices across seven states and India, the firm serves a diverse clientele, ranging from family businesses to affluent individuals, demonstrating its extensive reach and comprehensive service offering.

To facilitate this partnership and adhere to professional regulations, HBK will implement an alternative practice structure. This common framework ensures that regulated attest services, such as audits, remain under the control of a licensed, CPA-owned entity, Hill, Barth & King. Non-attest functions, including tax, consulting, accounting, and technology services, will operate under HBK Advisory Group, while wealth management activities will continue through HBK Sorce Advisory. This structure allows external investment in non-regulated business lines while preserving the integrity of core CPA responsibilities.

This strategic alignment comes at a time of evolving regulatory considerations for the accounting profession. Recent proposals from the American Institute of Certified Public Accountants in late 2025 aimed to update rules on alternative practice structures, and the International Ethics Standards Board for Accountants has initiated discussions on private equity's role, driven by concerns regarding auditor independence. H.I.G. Capital, founded in 1993 and known for its investment in over 400 companies, views HBK as a prime platform for capitalizing on the ongoing consolidation within professional services.

“HBK stands as one of the most esteemed entities in accounting and wealth management, boasting over 75 years of technical proficiency and a legacy built on enduring client trust,” stated Chris Byrne, Managing Director at H.I.G. Capital. “We are enthusiastic about collaborating with Tom, Chris, and the entire HBK team to propel the firm into its next significant growth phase.”