Trinity Hunt Partners, a Dallas-based private equity firm, is looking to expand its presence in the accounting sector by creating Springline Advisory in partnership with MarksNelson, a Kansas-based firm it invested in last year.
Springline Advisory will focus on the middle market and plans to give clients access to the capabilities and geographic reach of larger firms without compromising the kinds of close relationships that have been more typical of boutique and regional firms. Trinity formed Springline in partnership with MarksNelson, a Regional Leader firm based in Overland Park, Kansas. Last February, Trinity Hunt announced a strategic investment in MarksNelson’s advisory business.
Like other accounting firms that have received private equity investments, MarksNelson created an alternative practice structure, splitting off the business advisory, tax and non-attest side and renaming it MarksNelson Advisory LLC, while the CPA firm continued to operate the attest side under the name MarksNelson LLC to provide audit and assurance services.
Springline plans to provide cohesive collaboration among regional accounting firms under its brand, scaling up under what it calls a “Scale for Good” model by acquiring peer firms offering complementary advisory services. As the new CEO of Springline, Trinity Hunt appointed Tim Brackney, who comes from Resources Global Professionals, a publicly traded global consulting firm, where he was most recently president and chief operating officer.
“We’re committed to equipping and fortifying the strengths of the firms with whom we partner, with an array of shared services and advanced technologies,” he said in a statement Wednesday. “This model is designed to bolster our ability to increase service delivery capacity, advance talent acquisition, employee learning and development, and strengthen client and colleague relationships. We’re cultivating a culture of innovation and collaboration which is the essence of our DNA.”
Springline said it’s actively pursuing opportunities to invest in entrepreneurial and culturally driven professional service businesses across the U.S.
“Springline represents the epitome of our investment philosophy — partnering with great service businesses to foster innovative models that lead to exceptional client and people outcomes,” said George Morgan, a partner at Trinity Hunt Partners, in a statement. “We are confident that Tim and the Springline team will chart a path of unprecedented success and work with the leadership teams of distinguished firms like MarksNelson to help shape the future of the mid-market accounting and advisory landscape with integrity and strategic insight.”
Credit: Source link