CenterOak Partners Acquires NOW CFO

DALLAS--(BUSINESS WIRE)--CenterOak Partners LLC (“CenterOak”), a Dallas-based private equity firm, today announced that it has completed a majority recapitalization of NOW CFO (or the “Company”). NOW CFO is a leading provider of outsourced finance and accounting services, with a primary focus on small and medium-sized business (“SMB”) customers. Terms of the transaction were not disclosed.

Headquartered in Salt Lake City, Utah, NOW CFO offers a comprehensive suite of outsourced solutions including “controller as a service”, staff accounting, interim CFO services, and financial reporting services. The Company operates in more than 20 states across the U.S. and utilizes a team of more than 500 full-time professionals in the United States and abroad.

“CenterOak developed an investment thesis on the recurring and increasing SMB customer demand for finance and accounting support,” said Jason Sutherland, Managing Partner of CenterOak. “Given the persistent shortage of talent available and a limited ability to hire specialized resources on a full-time basis, a fractional solution is well-suited to meet the needs of this large and fragmented segment of business owners.”

“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.”

“This partnership with CenterOak marks an exciting new chapter for NOW CFO,” said Randy Christensen, Chief Executive Officer 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.”

About NOW CFO

Based in Salt Lake City, Utah, NOW CFO was founded in 2005 and operates in more than 20 states across the U.S. The Company utilizes a global team of more than 500 full-time professionals in the United States and abroad to provide scalable talent at a reduced cost. NOW CFO offers a comprehensive suite of outsourced strategic solutions including “controller as a service,” staff accounting, interim CFO services, and financial reporting services.

About CenterOak Partners LLC

CenterOak Partners LLC is a Dallas, Texas based private equity firm managing $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. CenterOak has a history of creating significant value through organizational development, operational improvements and transformational growth. For additional information, please visit www.centeroakpartners.com.