Walter Weil is based in North America and leads both TowerBrook’s Financial Services sector team and Business Services sector team in North America. Walter is a member of TowerBrook’s Equity Partners Committee and Investment Committee.

Prior to joining TowerBrook, Walter was a strategic consultant to The Blackstone Group within the Tactical Opportunities Fund and the GSO Special Situations Fund. Previously, he was an Executive Director at Morgan Stanley and began his career at Lehman Brothers. He is a member of the Board at Americares.org.

Walter holds a B.S. from the University of Colorado, Leeds School of Business, where he currently serves on the Board.

As private equity interest in accounting firms accelerates, the path from initial outreach to a successful deal is proving more nuanced than many expect. From sourcing and valuation to partner alignment, governance, and post-deal integration, acquiring an accounting firm requires a deep understanding of both the business model and the people behind it.

In this interactive session, industry advisors Allan Koltin, Bob Lewis, and Phil Whitman—who field calls from PE firms every day—share what you need to know before pursuing a transaction. Each will offer a brief, focused perspective on what drives successful deals, common missteps, and how to effectively evaluate and engage with target firms.

The session will then open into a town hall-style discussion, giving PE firms the opportunity to ask candid questions and pressure-test their approach in real time. Whether you’re actively deploying capital or exploring the space, this is a chance to get unfiltered guidance from advisors who understand both sides of the table.

Moderated by Accounting Today.

Note: Space is limited to encourage open, high-value discussion.

The first wave of private equity in accounting was defined by platform investments and first-time transactions. The next wave will be defined by what happens after the deal.

As the pioneering private equity investments in accounting mature, firms and investors are beginning to navigate continuation vehicles, secondary transactions, recapitalizations, evolving ownership structures, and even buybacks. Research shows that nearly two in ten PE-backed firms expect their investors to sell equity within the next two years, signaling that the profession is entering a new phase of the private equity lifecycle.

This session brings together firm leaders, investors, and advisors to explore how PE firms exit investments, what those transitions mean for partners and leadership teams, and how firms are preparing for their next chapter.

Attendees will gain insight into the realities of second transactions, lessons learned from early PE partnerships, and how firms are thinking about ownership, governance, and growth as private equity in accounting continues to evolve.

Private equity has already reshaped the accounting profession—but what happens next? In this interactive town hall, industry leaders will explore how capital, consolidation, technology, and talent pressures are transforming firm ownership and operations. Will private equity become the dominant ownership model? Can independent firms continue to compete and thrive? And what will the next generation of accounting firms look like five to ten years from now? Join this forward-looking discussion on the forces shaping the future of the profession and what firm leaders should be doing today to prepare for tomorrow.

Day One explored the forces driving private equity into the profession. In these closing remarks, we synthesize the key takeaways and preview Day Two’s focus on the second wave — how firms are navigating life after the deal and what the future of ownership in accounting may look like.

Much of the conversation around private equity focuses on managing partners and firm CEOs. But how do younger partners view the changes taking place within their firms? In this session, partners from firms that have been operating under private equity ownership for two to three years will share how investment has affected career paths, leadership opportunities, firm culture, compensation, and long-term growth. Hear how the next generation of firm leaders is experiencing—and influencing—the evolution of the profession.

When private equity firms invest in accounting firms, they’re ultimately acquiring two assets: client relationships and the teams that serve them. But if those teams are unhappy or misaligned with the deal, the value of the acquisition can deteriorate quickly—and right now, online, accountants’ perceptions of private equity are often skeptical at best. In this session, Big 4 Transparency draws on its proprietary database to reveal what really happens when firms take on private equity investment. We’ll examine the data behind these deals, uncover the impact on retention and morale, and explore strategies for keeping employees engaged through transition.