Accordion Acquires Platform Specialists
Accordion Announces Strategic Acquisition of CFO Tech-Enablement Provider Platform Specialists
Acquisition Makes Accordion The Premier Digital Enablement Partner for PE-Backed CFOs
NEW YORK – February 23, 2022 – Accordion, a private equity-focused financial and technology consulting firm, today announced that it has acquired Platform Specialists, an Enterprise Performance Management (EPM) consulting firm. The ability for the finance function to digitize is critical to driving operational efficiencies and enterprise-wide scaling efforts. The acquisition of Platform Specialists enables Accordion to enhance its already significant tech advisory and enablement expertise in order to offer its private equity sponsor and portfolio clients the full suite of people, process, and technology-related services.
“We couldn’t be more excited to welcome Platform Specialists to the Accordion family, particularly during this moment when the role of digital enablement has never been more critical to PE-backed companies,” said Nick Leopard, CEO, Accordion. “When we conducted our recent report, ‘The State of the PE Sponsor-CFO Relationship,’ PE partners ranked finance process optimization as the number one area they would like their portfolio company finance departments to focus going forward. And 84% of CFOs acknowledged an immediate need to address and modernize their technology stack. Almost every stakeholder within the broader private capital space understands the criticality and urgency of technology enablement in order to scale and create value.”
“This acquisition allows us to enhance our CFO Technology practice and become the singular digital enablement partner for PE-backed CFOs.”
Accordion’s CFO Technology experts work cross-functionally, alongside practitioners from all corners of the firm, to arm CFOs with the appropriate digital solutions needed to implement business process recommendations and capitalize on value creation opportunities. The acquisition of Platform Specialists adds expertise and capabilities related to technology-enabled forecasting and planning, close and consolidation processes, and reporting and analytics. From ERP, CPM, analytics, data integration, RPA, and beyond, Accordion’s newly enhanced CFO Technology practice can provide finance leaders with a single, objective partner capable of delivering digital enablement from strategy to execution.
“In addition to owning the finance function, PE-backed CFOs are expected to engage more deeply at the operational level,” said Mike Cochran, Managing Director, and Head of CFO Technology, Accordion. “That means identifying, procuring, and deploying technology that will enable the organization to quickly deliver the value sought by scrutinizing investors. Adding to the challenge, CFOs under institutional ownership face accelerated timeframes and heightened urgency due to the potential for upcoming transactions. This acquisition, in addition to our previous investments in CFO Technology resources, partnerships, and expertise, makes Accordion the go-to digital enablement partner for PE.”
The acquisition will add 26 professionals to Accordion’s growing team of experts in FinTech advisory, finance digital enablement, cloud migration services, information analytics, and finance/accounting process automation (RPA).
“We’re beyond excited to join the Accordion team,” said Justin D’Onofrio, Managing Partner, Platform Specialists. He also shared:
“Our heritage is rooted in building platforms for financial intelligence within commercial organizations. This acquisition allows us to expand our reach into the PE industry, where digital enablement is an essential component to value creation. Perhaps more important, this acquisition combines two companies that share a passion for hands-on, results-oriented execution and value-driven solutions.”
Added Joe Stasi, Managing Partner, Platform Specialists: “This isn’t just a synergy of tech-enablement expertise, it’s the meeting of two organizations with a shared belief that there’s a better way to work in finance. We both value a performance-based culture, but we place equal weight on our people, their priorities, and their aspirations. We’re thrilled to join this thoughtfully growing team in this highly relevant segment. Our combined capabilities will make Accordion the unrivaled leader for CFO-driven digital enablement and the employer of choice for all motivated and entrepreneurial financial, accounting, and fintech professionals.”
Accordion is a private equity-focused financial and technology consulting firm. Working at the intersection of sponsors and management teams, Accordion partners with clients at every stage of the investment lifecycle. The firm’s services span the entire CFO function within the private capital sector, including operational and technical accounting, strategic financial planning and analysis, CFO-driven transformation, CFO technology, transaction execution, public company readiness, interim leadership, and turnaround and restructuring. With a focus on hands-on, results-oriented execution, Accordion is widely recognized as the go-to PE consultancy and the premier digital-enablement partner for portfolio CFOs. In addition, Accordion has been recognized as an employer of choice for pioneering a better way to work in finance. Accordion has a total of 9 offices including its headquarters in New York and locations in Boston, Charlotte, Chicago, Dallas, Detroit, Los Angeles, San Francisco, and South Florida.
About Platform Specialists
Platform Specialists (now an Accordion company) is an Enterprise Performance Management (EPM) consulting firm. Specializing in best-in-breed EPM technologies—like Anaplan, Oracle EPM, and Workiva—the firm’s practitioners are experts in financial budgeting, forecasting and planning, financial consolidations and close, business intelligence and analytics, and financial reporting. For more than a decade, Platform Specialists’ practitioners have been empowering clients with smarter financial and operational decision-making through systems implementations, application development, and project management. www.platformspecialists.com