January 2026 delivered a revealing snapshot of the accounting firm M&A market. Not because of a single blockbuster transaction, but because of the volume, diversity, and intent behind the deals announced early in the year.
Taken together, they reinforce a reality firm owners and buyers can no longer ignore:
Accounting firm M&A is not only active, but it is becoming more selective, more strategic, and more unforgiving for undifferentiated firms.
A Market Defined by Strategy, Not Succession
Reporting from Accounting Today and Going Concern shows deal activity continuing at a steady pace into 2026, with buyers pursuing growth through geographic expansion, service-line enhancement, and talent acquisition.
What stands out is not simply that deals are happening, but why they are happening.
Buyers are increasingly focused on long-term enterprise value, not short-term partner transitions. Cultural alignment, integration readiness, leadership depth, and, most importantly, revenue quality are now central to valuation discussions. Succession alone is no longer a compelling investment thesis.
This shift has meaningful implications for firms at every stage of growth.
Early-year transactions spanned firm sizes, regions, and strategic objectives, underscoring just how broad the market has become.
Geographic Density Still Matters, But Precision Matters More
Several deals reinforced the continued importance of regional scale and local leadership:
These were not speculative expansions. They were infill moves designed to create immediate density, continuity, and operating leverage.
Just as telling were acquisitions driven by specialization and margin expansion:
These transactions reflect a clear buyer preference: specialists command attention and premium valuations, because they typically generate higher fees and stronger margins than generalists.
Private equity-backed platforms continued to expand:
Private equity has permanently altered the accounting firm M&A landscape. While only one PE platform has completed a full exit to date, the industry is now holding a partial hand of cards. What the full deck looks like, and when additional exits occur, will likely become clearer over the next two to four years.
That uncertainty is not a reason to wait. It is a reason to prepare.
When viewed collectively, three themes emerge.
For sellers, the message is clear. Positioning matters. Firms that present themselves solely as “succession solutions” risk being overlooked in a market that increasingly rewards strategic relevance, leadership depth, and future growth potential.
For buyers, diligence has expanded well beyond financials. Integration planning, governance models, and cultural fit now influence valuation as much as historical performance.
For growing firms in the $1–5 million range, this environment presents a choice: grow intentionally toward specialization and scale, or risk being caught between lifestyle practices and institutional platforms with far greater resources.
High-profile transactions and national platforms dominate headlines. But beneath the surface, many well-run small and midsize firms are quietly asking the same questions:
That quieter segment of the market is often the hardest to navigate.
CPA Deal Desk exists to bring clarity and structure to this reality. As a sister company to Hollinden, CPA Deal Desk provides a confidential marketplace where accounting firm owners can explore sale or growth opportunities without being overshadowed by platform-scale deals. It connects qualified buyers and investors with firms that may otherwise lack visibility, and supports readiness for those not yet prepared to transact.
The goal is not to force decisions, but to create optionality.
Early-2026 deal activity sends a clear signal: accounting firm M&A remains active, competitive, and increasingly strategic. The greatest risk for firm owners today is not a lack of interest, but a lack of preparation in a market that rewards clarity and differentiation.
As consolidation continues, firms that invest early in positioning, specialization, and enterprise value will have more choices and better outcomes when opportunity knocks.