Investcorp, a global alternative investment firm, has acquired a majority stake in CrossCountry Consulting, a business advisory firm.

Founded in 2011, CrossCountry provides accounting, finance, risk, operations, cyber and technology transformation services for CFOs in public and private organizations. The firm has over 700 professionals located across the U.S. and in Ireland, South Africa and the Philippines. In addition, Public Sector Pension Investment Board has made an investment in the company, and RLH Equity Partners will continue as an investor.

“There are several macro themes driving continued opportunity in accounting advisory, including the rise of outsourcing and the evolving role of the finance function to involve technology as businesses digitize their operations,” says Dave Tayeh, head of private equity North America at Investcorp. “We believe that our long history of working with professional services companies, and the potential synergies across our current portfolio in this space, will help CrossCountry achieve its next phase of growth.”

Guggenheim Securities LLC acted as the financial advisor to CrossCountry Consulting, Clearsight Advisors advised RLH Equity Partners, and Houlihan Lokey acted as the advisor to Investcorp and Public Sector Pension Investment Board.