By Laura Kreutzer, Reporter, The Wall Street Journal
FFL Partners has gone from satisfied customer to minority investor.
The San Francisco-based firm said it has taken a minority stake in Accordion Partners, a consulting firm that specializes in services for the chief financial officers and finance teams at private-equity portfolio companies.
Before investing in the company, FFL was a client, working with Accordion on at least five different projects, according to Cas Schneller, a partner at the firm. He added that Accordion helped certain FFL portfolio companies with tasks such as strategic financial planning and reporting, and merger-integration planning for add-on acquisitions.
“We got to know them as a client first,” Mr. Schneller said.
Read on wsj.com
FFL Provides Growth-Equity Investment for Accordion Partners
FFL, which took a minority stake in the business, was previously a client of Accordion, which provides consulting and operational advisory services to private-equity firms and their portfolio companies.