A conversation with Andy Burgess:
A conversation with Andy Burgess:
BOTTOM LINE UPFRONT
In this FAQ with Andy Burgess, Accordion’s London Office Lead, UK private equity has entered a more demanding phase where returns depend less on market tailwinds and more on consistent, measurable execution. With exit pressure building and multiple expansion limited, sponsors are prioritising operational performance, real-time insight, and ongoing exit readiness – putting CFOs, data, and AI at the centre of value creation.
Increased uncertainty, higher expectations, and a much sharper focus on performance. That’s the reality of the UK private equity market right now… and it’s exactly where Accordion operates, at the intersection of PE, finance, and technology.
We spoke with Andy Burgess, Accordion’s London Office Lead, about what he’s seeing on the ground: from shifting value creation priorities to the evolving role of the CFO and the growing impact of data and AI.
On the market:
Q: How would you describe the current UK private equity landscape?
A: The defining feature of today’s market is uncertainty. Private equity has always dealt with macro volatility, but there are more moving parts now – geopolitics, inflation, interest rates, supply chains – all making planning and execution more complex.
What’s different in this cycle vs. others is structural. There’s a record level of dry powder alongside a growing backlog of assets that need to be exited, while LPs are increasingly focused on distributions. At the same time, multiple expansion is harder to rely on. As Bain put it, “12 is the new 5” – meaning significantly stronger EBITDA growth is now required to deliver the same returns.
Value creation has moved front and centre. Firms are doubling down on operational performance, cash generation, and making sure they’re ready to exit whenever the window opens.
“Delivering returns now requires materially stronger operational performance across the portfolio.”
Q: Where are you seeing the greatest urgency right now?
A: The urgency is around execution. Specifically, delivering results faster and with greater predictability. Sponsors are pushing management teams to move from plans to measurable outcomes in shorter timeframes.
This is showing up across operating performance, cash management, and planning credibility. There’s a sharper focus on cost efficiency, pricing and automation; tighter control over liquidity and working capital; and increased expectations around scenario planning and forward-looking insight.
In other words: expectations have shifted from ambition to accountability. Boards want confidence that performance can be delivered consistently, even in a volatile environment.
“Sponsors are prioritising teams that can translate value creation plans into consistent, measurable outcomes – even when conditions are constantly changing.”
On the evolving office of the CFO:
Q: Why is the role of the CFO evolving so quickly right now?
A: Finance is now right at the centre of value creation. In PE-backed businesses, CFOs aren’t just reporting performance – they’re expected to help drive it.
That includes improving forecasting accuracy, enabling faster decision-making, and providing forward-looking insight to leadership teams. CFOs are also leading finance transformation and embedding more rigorous performance management.
And AI is accelerating all of this. There’s pressure to show practical use cases now, but the shift is deeper than that. AI is already reshaping how finance functions are structured, the cost base they operate with, and the roles within them.
As a result, CFOs are balancing near-term deployment with a more fundamental question: what should the finance operating model look like going forward? That combination of immediate execution and structural change is what’s driving the pace of evolution.
“AI is fundamentally changing the structure, economics, and expectations of the finance function.”
Q: Where does the Office of the CFO have the greatest opportunity to drive measurable value?
A: The biggest opportunity is in helping the business make better decisions, faster.
A lot of portfolio companies still struggle with fragmented data and limited visibility into what’s really driving performance. By strengthening FP&A, improving margin and pricing visibility, and tightening working capital discipline, finance can play a much bigger role in shaping outcomes.
“When finance is providing clear, actionable insight, it becomes a real driver of value creation across the organisation.”
On data and AI:
Q: What’s the data and AI mandate right now?
A: The conversation has moved on from experimentation. Most organisations are now focused on where AI can actually deliver tangible impact.
For CFOs, that usually means automating core processes, improving forecasting, and giving teams better visibility into performance. But getting the data foundations right is still critical, especially from a trust and governance perspective.
The real AI challenge now is adoption – how teams actually use these tools day to day and build confidence in them.
“The priority is now using AI in ways that deliver real, measurable impact for the business.”
Q. How is Accordion’s data and AI approach different from competitors?
A: We start with the outcomes – what sponsors and CFOs are actually trying to achieve – and then work backwards to where data and AI can have the greatest impact.
And we’re not just advising on AI. We’re actively deploying it within finance functions today. Our approach falls into three areas: unlocking more value from AI already embedded in core systems; deploying targeted solutions for specific use cases with a focus on speed to value; and designing bespoke, agentic AI where off-the-shelf tools aren’t enough.
“Combining finance expertise with hands-on delivery allows our team to move quickly from idea to impact.”
On exit readiness:
Q: What does “exit ready” really mean today for PE-backed CFOs?
A: Exit readiness is becoming less of a one-time event and more of an operating discipline embedded throughout the hold period. It’s about building a business that can withstand scrutiny at any point – with confidence in earnings, credible forecasting, strong systems, and clear visibility into performance drivers well ahead of a formal process.
In a less predictable exit environment, maintaining that level of readiness allows teams to move quickly when opportunities arise. As market conditions shift, those opportunities can emerge with little notice.
“Being ‘always exit ready’ enables teams to act quickly – and maximize ROI – when exit windows open.”
On the Accordion growth story:
Q: What’s THE thing that the market should know about Accordion right now?
A: In the UK and Europe, we’re a different Accordion than we were last year. Early efforts focused on building awareness, but today we are operating at meaningful scale and continuing to grow rapidly.
We’re now a team of around 50 professionals in the region, investing in a platform that brings together finance, data, technology and operational delivery – specifically for private equity environments.
Our focus is long-term. We’re building a scaled capability that supports sponsors and portfolio companies across the full deal lifecycle, with a strong emphasis on execution.
“We’ve combined scale with execution to support sponsors across the full deal lifecycle.”