TFS Gulf 
- Wipfli LLP, a nearly 100-year-old U.S.-based professional services firm, just raised capital from New Mountain Capital (manages $55B+) on August 1, 2025.
- Although no amount has been publicly disclosed, The Wall Street Journal reports that the deal could value Wipfli at over $1 billion.
- But unlike most private equity deals… this isn’t about fixing, it’s about scaling.
- Yes, over the past decade, Wipfli has 3x its revenue!
What’s happening at Wipfli?
Founded in 1930, Wipfli isn’t your traditional accounting firm.
The firm employs over 3,000 people, including 250 partners.
Wipfli has an exciting roster of clients, including NFL teams like the Green Bay Packers and the Philadelphia Eagles.
Over the past decade, it has:
- Tripled revenue to over $600M
- Completed 34 acquisitions
- Grown advisory services to 50% of its revenue mix
- Wipfli aims to hit $1 billion in annual revenue within three years
And now with New Mountain’s backing, the firm is gearing up to scale faster without ceding control.
“We’re accelerating the course we already set,” says Kurt Gresens, Managing Partner at Wipfli.
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Meet the Investor: New Mountain Capital
New Mountain Capital is known for backing strong, fast-growing firms.
Wipfli is New Mountain Capital’s third investment in a professional services firm,
- Citrin Cooperman – April 11, 2022.
- Grant Thornton (US) – March 31, 2024
The investment was made through New Mountain’s Strategic Equity arm, which focuses on minority stakes in founder-led firms looking to grow fast.
“We’re excited to back Wipfli’s leadership to grow talent, tech, and client solutions,” said Nikhil Devulapalli, Managing Director at New Mountain.
Who advised whom?
Wipfli’s Advisors:
- Financial: Guggenheim Securities
- Legal: Simpson Thacher & Bartlett, Godfrey & Kahn, Hunton Andrews Kurth
New Mountain Capital’s Advisors:
- Financial: William Blair, Koltin Consulting
- Legal: Kirkland & Ellis, Vedder Price
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Wipfli’s next chapter
Wipfli will remain partner-led and majority-owned.
With this investment, Wipfli plans to go harder on what’s working:
- Scale advisory across M&A, risk, digital, and strategy
- Grow leadership & technical talent
- Double down on tech innovation
- Pursue smart acquisitions across U.S. markets
It also transitions to an alternative practice structure (APS), allowing greater flexibility in how it delivers advisory and non-attest services, while maintaining full compliance on the audit side.
Wipfli’s India Footprint
Wipfli maintains four offices across India in strategic tech hubs:
- Pune (its first India office, launched in 2004)
- Bengaluru (since 2007)
- Ahmedabad
- Hyderabad
Each of these delivery centres supports Wipfli’s global service offerings in areas like audit, tax, technology consulting, software development, risk advisory, and product innovation.
