Another large accounting firm has struck a deal with private-equity investors.

PKF O'Connor Davies, a top 30 firm, announced a deal on Monday with Investcorp and Public Sector Pension Investment Board (PSP Investments).

"This investment from Investcorp and PSP further validates that we have an attractive business with a great brand, great talent, and great customers," Kevin Keane, executive chairman of PKF O'Connor Davies, said in a news release.

According to the news release, the firm will continue to operate in an alternative practice structure: PKF O'Connor Davies LLP, a licensed CPA firm, will continue to provide attest services, and PKF O'Connor Davies Advisory LLC and its subsidiary entities will continue to provide tax and advisory services.

"As ownership rules in the sector have evolved, we have been seeking the right platform to back," Vitali Bourchtein, principal at Investcorp, said in the release. "We were instantly impressed by [the firm's] leadership team and the exceptional track record of financial performance. Providing the organization with additional resources will help accelerate growth and enhance its competitive position in the accounting, tax, and advisory verticals."

The deal is the latest in a long line of private-equity investments involving large firms. In addition, a pair of top 15 firms recently banded together through an acquisition.

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.