Carlyle and CVC’s CFGI strikes deal for Texas advisory firm BAO Consulting
Carlyle and CVC Capital Partners portfolio company CFGI has acquired BAO Consulting Group, an advisory business operating in Dallas and Houston. The deal establishes CFGI in the Dallas market and strengthens its ability to serve management teams and private equity sponsors.
CFGI, an accounting and business advisory firm, has acquired BAO Consulting Group. CFGI is a portfolio company of The Carlyle Group and CVC Capital Partners. The financial terms of the acquisition were not disclosed. This transaction expands CFGI's operational footprint within Texas, specifically establishing its presence in the Dallas market. The acquisition is intended to enhance CFGI's service capabilities for management teams and private equity sponsors. These services include accounting, transaction advisory, and business improvement initiatives. BAO Consulting Group was founded in 2021, providing accounting and finance advisory services, CFO and controller support, financial planning and analysis, finance transformation, systems implementation, and transaction-related services. The combined entity aims to pursue larger and more complex engagements. This acquisition reflects a continued trend of consolidation within the financial and accounting advisory sector, as firms seek to expand geographic reach and service offerings to meet the comprehensive needs of their private equity and corporate clients.