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Elliott Davis, a top 50 U.S. accounting and advisory firm, has announced a strategic growth investment from Flexpoint Ford, a private equity investment firm specializing in the financial services sector. Officials said the partnership will accelerate the firm's growth, expand its service offerings and geographic reach, and enhance its ability to attract and retain top talent. Existing shareholders will remain significant owners in the firm, the officials said.
As part of this new chapter, John Otten has been named Chief Executive Officer effective July 1, 2025. Otten, who has held several leadership roles over his 28-year tenure at Elliott Davis, succeeds Rick Davis, who led the firm for more than 18 years and will transition to an advisory role.
"The future is bright with John at the helm," said Davis. "He has long been a trusted advisor to our clients and a respected leader within our firm. John lives our values, embraces our mission, and is fully prepared to guide Elliott Davis into its next chapter."
Under the new structure, Elliott Davis will operate in an alternative practice structure. Attest services, performed by Certified Public Accountants (CPAs), will continue to be provided by Elliott Davis, LLC, a licensed CPA firm. Business advisory and non-attest services will be delivered by Elliott Davis Advisory, LLC, which will operate as a separate entity and will not be a licensed CPA firm.
"This marks an important milestone for Elliott Davis," said Otten. "We are making significant investments in people, technology and services to meet the evolving needs of our clients and ensure we remain a destination employer. Our partnership with Flexpoint Ford positions us well for continued expansion through both organic growth as well as through strategic acquisitions."
Flexpoint Ford has a long-standing track record of supporting founder- and partner-led businesses across the financial services landscape, including several successful investments in the professional services sector. Through this partnership, Flexpoint Ford will provide strategic insight, growth capital, and operational support to help Elliott Davis navigate the evolving complexities of both the accounting profession and today's dynamic marketplace.
"Elliott Davis stands out for its client-first approach and one firm culture—hallmarks of an exceptional professional services platform," said Dominic Hood, Managing Director at Flexpoint Ford. "We are excited to partner with John and the broader leadership team as they build on the firm's legacy and drive its next phase of growth."
Guggenheim Securities, LLC and Koltin Consulting Group advised Elliott Davis, and Nelson Mullins Riley & Scarborough LLP and Vedder Price P.C. served as legal counsel to Elliott Davis. William Blair & Company, LLC advised Flexpoint Ford, and Simpson Thacher & Bartlett LLP and Hunton Andrews Kurth LLP served as legal counsel to Flexpoint Ford.
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