WAYNE, PA — Accounting and advisory firm Stephano Slack has secured a strategic investment from funds managed by private equity firm Madison Dearborn Partners, a deal that positions the Pennsylvania-based firm to pursue further expansion in the fragmented accounting services market.
Stephano Slack disclosed the transaction Thursday, with additional participation from co-investor Norlantic Capital. Financial terms were not released.
The investment comes as private equity firms continue to increase their presence in the accounting sector, backing firms seeking growth through acquisitions, geographic expansion, and broader advisory offerings.
Stephano Slack will continue to be led by CEO and Managing Partner Michael Stephano, who founded the firm in 2004. The company provides tax, audit, outsourced accounting, and advisory services to middle-market clients and has completed seven acquisitions over the past two decades.
As part of the transaction, Jim Brady, former chief operating officer of Grant Thornton and a veteran of both Grant Thornton and Deloitte, will join the firm as executive chairman.
Madison Dearborn said it plans to work with Stephano Slack’s leadership team to expand the firm’s service capabilities and enter additional markets.
“We look forward to partnering with Michael and Jim to accelerate the growth of the platform, deepen service offerings, and broaden the firm’s geographic reach into new markets,” said Vahe Dombalagian, managing partner and co-head of financial services at Madison Dearborn Partners.
Stephano Slack was recently named one of Accounting Today’s Fastest-Growing Firms of 2026, reflecting continued expansion in its client base and operations.
“Our partnership with MDP adds a compelling new growth driver to the Stephano Slack platform,” Stephano said. “MDP’s support will pave new avenues for Stephano Slack to grow and diversify our platform.”
Following the transaction, the firm will adopt an alternative practice structure. Stephano Slack LLC, the licensed CPA firm, will continue providing attest services, while Stephano Slack Advisory LLC will provide tax, business advisory, and other non-attest services.
Koltin Consulting Group advised Madison Dearborn Partners on the transaction. Leelanau Management advised Stephano Slack.
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