CFGI Acquisition, Valuation, Funding & Investors

Andersen Group is a San Francisco-headquartered provider of independent tax, valuation and financial advisory services to individuals, family offices, businesses and alternative investment funds. It is the listed holding company of Andersen Tax LLC, which began in July 2002 as Wealth & Tax Advisory Services, formed by former Arthur Andersen tax partners, and took the Andersen name in 2014. Andersen Group Inc. was incorporated in Delaware in April 2025 and listed on the New York Stock Exchange as ANDG after an initial public offering priced at $16.00 per share that closed on December 18, 2025. It reported 2025 revenue of $838.7 million and about 2,300 employees. In 2026 the group began buying firms from the Andersen Global network, signing 19 acquisitions across tax, legal, valuation and consulting representing about $190 million of annualized revenue. Andersen Global, the Swiss verein of independent member firms, is a separate organisation.

Ryan is a Dallas, Texas-based tax services and software firm that helps large companies reduce, recover and manage their taxes. Its practice areas include transaction tax, property tax, income and international tax, credits and incentives, value-added tax, employment tax, severance tax and unclaimed property, delivered as recovery, consulting, compliance outsourcing and advocacy work, alongside the affiliated law firm Ryan Legal Services and Ryan Software. Ryan serves about 18,000 clients in more than 60 countries from over 113 offices, including locations in Canada, the Netherlands, the United Kingdom, India, the Philippines and Australia, and says it recovered more than $4 billion in tax savings for clients in a single year. It earns fees for recovery and consulting work and licence revenue from software; revenue was about $715 million in 2021, with around 3,600 employees. The firm was founded in 1991 by G. Brint Ryan and Chris F. Collis as the CPA firm Collis & Ryan, became Ryan & Company after Collis was bought out in 1993, gave up its CPA licence in 1998 and took the name Ryan LLC in 2007. In October 2018 Onex acquired a 42% interest that valued the company at $1.1 billion, and Ryan has since bought specialist firms such as Economics Partners and VAT Systems.

MegazoneCloud is a South Korean cloud computing company and the first Korean partner of Amazon Web Services, offering managed cloud services, AI platforms such as AIR Studio, and consulting spanning cloud migration through AI-native transformation. Founded as a spin-off from Megazone Corporation in 2018, it serves thousands of corporate clients across South Korea, the United States, China, Japan, and other markets, with the US as a priority growth market. The company also provides cloud security services under its HALO brand.

Distyl AI is a provider of AI platforms and services that integrate into enterprise operations for sectors like healthcare, telecom, manufacturing, insurance, and retail. The Distillery Platform deploys and manages AI systems connecting to data sources, workflows, and infrastructure. San Francisco-based teams with experience from OpenAI, Apple, and Palantir offer custom research and technical deployments.

Engineers India is a state-owned engineering consultancy. It provides design, engineering, procurement and project management for oil refineries, petrochemicals, pipelines and other infrastructure. Customers are mainly public sector oil and gas companies. Headquartered in New Delhi.

Baker Tilly US is a Chicago-headquartered accounting, tax and advisory firm whose US business originated in 1931, with the present partnership organized in 1953. It was formerly known as Virchow, Krause & Company, LLP, joined Baker Tilly International in 1999 and adopted the Baker Tilly name on 1 June 2009. In February 2024 it sold a majority stake to private equity firms Hellman & Friedman and Valeas Capital Partners and adopted an alternative practice structure, with Jeff Ferro as chief executive of the advisory business. It has expanded through acquisitions since 2020, including Squar Milner and Margolin Winer & Evens. The April 2025 combination with Moss Adams, valued at about $7 billion, created the sixth-largest US CPA advisory firm with more than $3 billion of revenue and about 11,500 people.

Cognitive Boundaries Education is a consultancy serving small and medium-sized e-commerce businesses. It delivers specialized training programs, strategic consulting, and hands-on operational support to build digital competencies. Services cover platform optimization, customer experience enhancement, and supply chain integration via e-commerce tools. The firm equips clients with practical frameworks to expand online presence and revenue streams in competitive digital marketplaces.

Ipsos SA is a France-based market research and data analytics company. It provides research services across areas such as advertising, media, technology, public affairs, and consumer markets, using surveys and data analysis to generate insights. The company operates globally, with Europe as a key revenue contributor.

TIC Solutions Inc is a provider of tech-enabled Testing, Inspection, Certification and Compliance (TICC), engineering, and geospatial services. It provides mission-critical services that are essential to the safety, reliability, and efficiency of industrial assets, buildings and public infrastructure. The company's services are often non-discretionary and are driven by regulatory requirements, customer risk management policies, and the need to extend the useful life of critical assets. It operates in North America and serve both public- and private-sector clients. Its public-sector clients include federal, state, and municipal agencies, public utilities, and environmental regulators. Its private-sector clients span industrial, infrastructure, construction, and real estate end markets.

Amsterdam-launched in 2006, PICNIC acts as a European incubator and accelerator fostering cross-industry collaborations on technology applications for business, social, and environmental challenges through events and informal networking.

Clarivate Plc is a British-American information services and analytics company, headquartered in Philadelphia and London, that sells subscription data, analytics and workflow software to academia, government, intellectual property owners and life sciences companies. It formed in 2016 when Thomson Reuters sold its Intellectual Property and Science division to Onex and Baring Private Equity Asia, and it listed on the NYSE in 2019 through a merger with Churchill Capital Corp. Its products include Web of Science, ProQuest, Ex Libris, Derwent, CompuMark and Cortellis. It acquired CPA Global, an IP management software and services provider with about $575 million of revenue and 12,000 customers, in an all-stock deal valued at about $6.8 billion that closed in October 2020. For 2025 revenue was $2.46 billion, 88% of it recurring, with a net loss of $201.1 million and adjusted EBITDA of $1.00 billion. In 2026 it agreed to sell its Life Sciences & Healthcare segment to Altaris for $600 million, leaving Academia & Government and Intellectual Property as its two segments. Matti Shem Tov has been chief executive since August 2024.

Mu Sigma is a Bengaluru-headquartered data analytics provider serving Fortune 500 clients across airlines, pharmaceuticals, banking, consumer goods, retail, technology, and telecom sectors. The firm delivers marketing analytics including segmentation, RFM analysis, churn modeling, and mix optimization; risk analytics such as credit scoring, fraud detection, and loss ratio analysis; and supply chain analytics encompassing demand forecasting, inventory management, and logistics optimization. Founded in 2004, Mu Sigma maintains operations in India with a global client base.

ICF International Inc provides professional services and technology-based solutions to government and commercial clients, including management, marketing, technology, and policy consulting and implementation services. Its services support clients that operate in four key markets that include Energy, Environment, Infrastructure and Disaster Recovery; Health and Social Programs and Security and Other Civilian & Commercial. The Company's majority clients are United States federal government departments and agencies. It operates in a single segment, which is providing professional services.

ASGN Inc is a provider of information technology (IT) services and professional solutions, including technology and creative digital marketing, across the commercial and government sectors. It operates through two segments, Commercial and Federal Government. The Commercial Segment, which generates the majority of the revenue, provides IT solutions to Fortune 1000 and large mid-market clients. The Federal Government Segment provides solutions in data and AI, cybersecurity, software and engineering, and enterprise platforms to agencies in the public and private sectors.

MLP SE is a holding company that provides consultation that covers all economic and financial aspects for private and corporate clients, as well as institutional investors such as old-age provision, wealth management, health insurance, non-life insurance, loans, banking, among others. The company has seven business segments namely, Financial consulting; Banking; FERI; DOMCURA; Industrial Broker; Deutschland.Immobilien and Holding.

AlixPartners is a global management consulting firm focused on turnaround, restructuring, and performance improvement. New York-headquartered, it advises on bankruptcy proceedings, litigation support, and digital transformations for Fortune 500 companies across industries. The firm maintains 25 offices worldwide, including London, Munich, and Singapore, delivering crisis response and operational overhauls.

Huron Consulting Group Inc is a professional services firm. The company provides expertise in technology, operations, advisory services, & analytics through three operating segments namely Healthcare, Education, and Commercial. Healthcare segment helps the firms to transform and innovate the delivery model to focus on patient wellness by improving quality outcomes, minimizing care variation and fundamentally improving patient and population health, Education segment provides management consulting and technology solutions, and Commercial segment is focused on serving industries and organizations facing disruption and regulatory change. It generates a majority of its revenue from the Healthcare Segment.

Pilot is a San Francisco-headquartered finance platform delivering bookkeeping, tax preparation, and fractional CFO services to startups since 2017. The company automates accrual-basis accounting with integrations to QuickBooks Online, Xero, Stripe, and Brex, generating real-time P&L statements and cash flow forecasts. Serving over 5,000 clients like Notion and Brex, Pilot employs CPAs across the United States and Philippines, processing billions in annual transactions.