CenterOak Partners Acquires NOW CFO
DALLAS--(BUSINESS WIRE)--Jun 30, 2025--
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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20250630253637/en/
CONTACT: Jeremy Milner
Gregory FCA
(401) 862-9422
[email protected]
KEYWORD: UNITED STATES NORTH AMERICA UTAH TEXAS
INDUSTRY KEYWORD: FINANCE BANKING ACCOUNTING PROFESSIONAL SERVICES ASSET MANAGEMENT
SOURCE: CenterOak Partners LLC
Copyright Business Wire 2025.
PUB: 06/30/2025 06:30 AM/DISC: 06/30/2025 06:31 AM
http://www.businesswire.com/news/home/20250630253637/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
15 minutes ago
- Fox News
Trump warns of 'whopping 68% tax increase' if Senate fails to pass historic bill
As the Senate continued to inch closer to finalizing President Donald Trump's "One Big Beautiful Bill," the president took to social media early Tuesday to warn that a failure to come to an agreement would end in the largest tax increase in history. The message came after lawmakers had been in a marathon "vote-a-rama," for several hours, submitting amendments to the megabill from either side of the aisle. "Republicans, the One Big Beautiful Bill, perhaps the greatest and most important of its kind in history, gives the largest Tax Cuts and Border Security ever, Jobs by the Millions, Military/Vets increases, and so much more. The failure to pass means a whopping 68% Tax increase, the largest in history!!!," he posted. There is currently no end in sight as Republican leaders are searching for ways to garner support for the bill while simultaneously fighting proposed amendments from Democrats who are opposing it. GOP leaders have a narrow margin and cannot afford to lose more than three Republican senators as two, Sen. Thom Tillis of North Carolina and Sen. Rand Paul of Kentucky has already indicated that they oppose it. Tillis announced that he would not be seeking reelection after President Trump made threats of a campaign against him. Senate Majority Leader John Thune of South Dakota said Republicans are "figuring out how to get to the end game," but an end to the vote-a-rama has been predicted to come well into the middle of the night. The bill, if passed, will enact Trump's domestic tax and spending agenda that includes $4.5 trillion in tax cuts, according to the latest CBO analysis. The package would also roll back billions in green energy tax credits threatening wind and solar investments, according to Democrats. Billionaire Elon Musk, who until a few weeks ago led the Department of Government Efficiency (DOGE), took to social media late Monday, lashing out at Republicans as "the PORKY PIG PARTY!!" for including a provision, he argued, would raise the nation's debt limit by $5 trillion. Trump fired back at Musk on Truth Social, threatening to turn DOGE on its former leader. "Elon Musk knew, long before he so strongly Endorsed me for President, that I was strongly against the EV Mandate. It is ridiculous, and was always a major part of my campaign. Electric cars are fine, but not everyone should be forced to own one. Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!" the president wrote. The bill will also impose $1.2 trillion in cuts to Medicaid and food stamps and make sign-up eligibility more rigorous and change federal reimbursements to states. It will also provide a $350 billion infusion for border and national security to include deportations.
Bloomberg
15 minutes ago
- Bloomberg
Bloomberg Daybreak Europe: EU to Accept 10% US Tariff
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The European Union is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc's exports, but wants the US to commit to lower rates on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft. (2) President Donald Trump threatened to proceed with ramping up tariffs on Japan, while his top economic adviser said the White House aims to finalize deals with partners after the July 4 holiday. (3) UK Prime Minister Keir Starmer is girding for what could be the most consequential vote of his premiership, with Labour rebels warning that the government's welfare overhaul still risks defeat despite huge concessions to push it through parliament. (4) Apple is considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort. (5) Cybersecurity woes are plaguing the US Treasury Department, deepening a rift between the agency responsible for protecting the integrity of the financial system and the banks it regulates. (6) Senate Republican leaders continue to scrounge for votes to pass Donald Trump's $3.3 trillion tax and spending bill as lingering intraparty fights threaten to upend the legislative centerpiece of the president's domestic agenda.
CBS News
20 minutes ago
- CBS News
California's 4% cannabis tax increase kicks in July 1
California's cannabis excise tax is set to increase from 15% to 19% on all products beginning July 1. It's an increase that some business owners feel would stunt the growth of the state's cannabis industry. People packed in and stocked up at Off the Charts in Manteca on Monday. It's one of the new and few marijuana dispensaries in the city. Customers like Miguel Gutierrez are feeling burned after learning about the increase in the state's cannabis tax. He says the constant increase makes it more tempting to turn to the illegal market. "It adds up, especially with everything else going up," he said. Lauren Nair, the store manager at Off the Charts, said that the industry is already struggling with taxes and having to compete with the underground market. Her store often offers specials to lure more customers. "We're trying to sympathize with them because 4% is not a little bit. It'll be on every product they purchase, so it'll be a hefty amount," she said. The California Department of Tax and Fee Administration is legally required to increase the tax every two years. Currently, Assembly Bill 564 aims to cap the tax at 15%, but it still needs revenue and tax review. "Tax is at 15% right now. I can understand how it going up could help a lot with California, but it also is coming out of our customers' pockets," Nair said. Nair said business owners in the industry know the taxes are high, so they have specials constantly. On average, customers spend $120 to $140 every time they come into Off the Charts. The increase would amount to about $5 extra that the average customer will have to pay.
