Baker Tilly Germany is considering selling a stake to a private equity investor as part of a strategic review aimed at supporting future growth and innovation, Bloomberg reports.

The German member of the global Baker Tilly network said it is weighing several options, including remaining independent. “We continuously monitor market developments and assess strategic options to further strengthen and develop our company,” a spokesperson said. “Private equity is only one of many possible ways to finance innovation and growth.”

The firm, which employs around 1,700 people across 10 offices, reported €250.6m ($290.3m) in revenue for 2024. Globally, the Baker Tilly network of independent member firms generated $5.6bn last year.

Private equity interest in accounting and professional services firms has intensified in recent years, as investors seek to consolidate a traditionally partnership-driven sector. Earlier this year, Baker Tilly Netherlands sold a minority stake to Inflexion Private Equity, while Baker Tilly US partnered with Hellman & Friedman and Valeas Capital before announcing a merger with Moss Adams valued at up to $7bn.

Baker Tilly UK, operating as MHA, listed on the London Stock Exchange in April, raising £98m ($130.7m), and subsequently acquired Baker Tilly’s Greece and Cyprus operations for €24m ($27.8m).

The sector has also seen significant investment from Cinven and New Mountain Capital in Grant Thornton’s global network, underscoring the growing appetite for private equity participation in professional services.

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