Wipfli secures strategic investment from New Mountain Capital to accelerate growth, innovation and client solutions

MILWAUKEE and NEW YORK, Aug. 1, 2025 /PRNewswire/ -- Wipfli LLP ("Wipfli" or the "firm"), a leading middle market provider of accounting, tax and advisory services, today announced entry into a definitive agreement for a significant minority investment from New Mountain Capital, a leading growth-oriented investment firm with approximately $55 billion in assets under management. This values-aligned partnership will accelerate Wipfli's growth, expand its investments in talent and technology, and fuel innovation to deepen its impact where it matters most: clients and people. 

A bold evolution built on momentum 

Wipfli has always been a firm in motion. Founded nearly a century ago in the Midwest, the firm has grown into a national powerhouse by balancing deep relationships with bold investments in its people, technology and services. Wipfli's strategy has resulted in growth to over $600 million in annual revenue, tripling in size and completing 34 acquisitions over the past decade. 

Wipfli consistently evolves to meet the demands of mid-market organizations, which has made it a leader in the professional services industry. As an early pioneer in advisory services and international operations over two decades ago, the firm expanded its capabilities to stay ahead of the complex demands of middle-market organizations. Today, advisory services comprise nearly half of total revenue — validation of Wipfli's integrated approach to solving multifaceted business challenges for their clients.  

This investment will mark the next chapter in that story: A moment to accelerate, scale with purpose and help even more organizations reach their full potential. Following closing of the transaction, the firm will remain majority-owned and partner-led, preserving its culture and independence while unlocking greater speed, scale and strategic opportunity.   

"Wipfli has been on the offensive, scaling smartly and profitably. And now, we're accelerating the course we already set with this investment," said Kurt Gresens, Managing Partner of Wipfli. "New Mountain gives us more capital and confidence to expand and deliver even greater value to our clients and our people." 

Kelly Fisher, chief practice officer at Wipfli, said: "We selected New Mountain Capital because they recognized what's special about Wipfli—the culture we've built where our approachable style creates deep relationships, leading to breakthrough results. We were intentional about finding a partner who values that, so we're positioned to expand our impact, while preserving what makes us who we are." 

A partner to power Wipfli's next phase 

New Mountain Capital, known for its focus on business building and long-term value creation, brings proven experience in scaling firms in the accounting sector and a disciplined approach to growth. The investment in Wipfli will be through New Mountain's Strategic Equity effort where New Mountain makes value added non-control investments in leading companies.

"We have been highly impressed by Wipfli's culture, strong growth track record and its deep commitment to client service and employee success. We are excited to partner with Kurt and the firm's leadership team to further accelerate growth, including supporting investments in talent, technology, and acquisitions," said Nikhil Devulapalli, managing director at New Mountain Capital. 

Andre Moura, managing director at New Mountain Capital, said: "New Mountain continues to see strong, long-term growth tailwinds in the accounting, tax and advisory profession, a sector which is well aligned with our defensive growth investment strategy. In other investments in this space, we have been proud to support initiatives that grew client satisfaction, maintained the highest quality standards, invested in people, and expanded the breadth of service and technology capabilities." 

Terms of the transaction were not disclosed. The transaction is subject to regulatory approval and other standard closing conditions. Following the closing of the transaction, Wipfli will operate in an alternative practice structure: Wipfli LLP, a licensed CPA firm, will provide attest services — and Wipfli Advisory LLC, which will not be a licensed CPA firm, will provide business advisory and non-attest services. The purpose-built structure will support the highest possible client service and a continued, unwavering focus on quality. 

Guggenheim Securities, LLC is serving as financial advisor to Wipfli. Simpson Thacher & Bartlett LLP, Godfrey & Kahn SC and Hunton Andrews Kurth LLP are serving as legal advisors to Wipfli. William Blair and Koltin Consulting Group are serving as financial advisors to New Mountain Capital. Kirkland & Ellis LLP and Vedder Price P.C. are serving as legal advisors to New Mountain Capital. 

About Wipfli 
Wipfli is a national advisory and accounting firm with a nearly 100-year legacy of serving ambitious middle-market organizations. Ranked among the top firms in the U.S., Wipfli is known for blending trusted relationships with bold ideas to help clients and communities thrive. 

With more than 3,000 associates, Wipfli delivers a full range of audit, tax and consulting solutions across industries and geographies — backed by global alliances and a modern approach to business advisory. Learn more at wipfli.com or contact Alicia O'Connell at [email protected].  

About New Mountain Capital 
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. New Mountain Capital currently manages private equity, strategic equity, credit and net lease real estate funds with approximately $55 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, please visit: https://www.newmountaincapital.com/ .  

Media Contacts

Wipfli
Alicia O'Connell / [email protected] 

New Mountain Capital
Dana Gorman - H/Advisors Abernathy
[email protected] 

SOURCE Wipfli LLP