Charlesbank Capital Partners, a private equity firm, and Motive Partners, a private equity firm focused on financial technology, have made a majority growth investment in Accordion, a private equity-focused financial and technology consulting firm.
Accordion focuses on the office of the CFO, primarily at private equity-backed companies. The investment is intended to serve as an accelerant for Accordion’s expansion as a consulting firm and digital enablement partner for PE-backed CFOs. Nick Leopard, founder and CEO, and the Accordion team will remain shareholders alongside Charlesbank and Motive.
“Charlesbank and Motive are best-in-class PE firms and the perfect partners to help Accordion in the next stage of our accelerated and ambitious growth trajectory,” says Leopard. “Our partners at Charlesbank appreciate firsthand the critical and increasingly complicated role of the CFO as both a driver and protector of value. They understand that the modern-day PE-backed CFO is typically flooded with data, overwhelmed by the demands of institutional ownership, and under-staffed from a resource and expertise perspective. Charlesbank knows that Accordion was built to help CFOs navigate those often competing, but always urgent, demands. Together with the added insight of Motive Partners – a firm with unmatched expertise in financial technology and digitization – we believe we have found the right partners to help us better serve our CFO clients and scale even further.”
Guggenheim Securities LLC served as financial advisor to Accordion on the transaction. Willkie Farr & Gallagher LLP provided legal counsel to Accordion, while Ropes & Gray LLP and Gibson, Dunn & Crutcher LLP provided legal counsel to Charlesbank and Motive.