CenterOak Partners LLC, a Dallas-based private equity firm, has completed its acquisition of NOW CFO of Salt Lake City. Terms of the transaction were not disclosed.
NOW CFO offers a suite of outsourced solutions including “controller as a service,” staff accounting, interim CFO services and financial reporting services, with a primary focus on small and medium-sized business customers. The company operates in more than 20 states across the U.S. and uses a team of more than 500 full-time professionals domestically and abroad.
“This partnership with CenterOak marks an exciting new chapter for NOW CFO,” said Randy Christensen, CEO of NOW CFO. “CenterOak’s experience scaling services businesses makes them a natural partner as we look to add talent and deliver even greater value to our customers.”
“NOW CFO has a talented team with significant industry experience that is well-positioned for continued growth,” said Mark Langer, managing director of CenterOak. “As the first institutional investor in the business, we plan to support management by investing in technology, business development and client engagement resources, while also expanding the company’s geographic reach and service line offering through strategic acquisitions.”
CenterOak Partners manages $2.5 billion of equity capital commitments, with a focus on making control-oriented investments in middle market companies. The firm invests in business services, industrial services and consumer services companies.