Your Part-Time Controller, LLC, Announces Strategic Growth Partnership with Pamlico Capital

PHILADELPHIA, Nov. 15, 2023 /PRNewswire/ -- Your Part-Time Controller, LLC ("YPTC"), the 75^th largest accounting firm in the U.S., according to the publication Accounting Today, announced today that it has received a strategic growth investment from Pamlico Capital ("Pamlico"), a private equity firm based in Charlotte, N.C.

"This marks a milestone for Your Part-Time Controller, which has grown dramatically from a one-person firm in 1993, to a nationally recognized financial service provider for the nonprofit sector," said Eric Fraint, President and Founder. Fraint continued, "With the support of Pamlico, who understands our business and culture and shares our interest in serving nonprofit organizations, YPTC will be well-positioned to continue its remarkable growth."

Fraint also announced his retirement from YPTC, scheduled for early 2024, explaining, "After 30 years of growing YPTC, I am excited to transition out of the day-to-day operations of the company to invest my time and energy in other pursuits, including philanthropic causes and my six grandchildren." Fraint will continue to be involved with YPTC as a significant shareholder and member of YPTC's board of directors.

Upon Fraint's retirement, Jennifer Alleva, Managing Partner, will assume the role of CEO and will also have a seat on the YPTC board of directors. "Jen has been my partner in building YPTC for 20 years, and I am excited for her to lead the company in its next chapter of growth. I have complete confidence in her and our excellent and long-tenured YPTC team to continue the company's track record of success."

Commenting on the transaction and her new role, Alleva said, "I am thrilled to lead YPTC to new heights with the additional resources of our new partner Pamlico and the continued support of Eric on our board. I look forward to many more years at YPTC as we continue to help our nonprofit clients achieve their missions." Alleva continued, "I want to reassure our staff and clients that YPTC's day-to-day operations will be unchanged. Our executive team, market leaders and department leaders will continue to run the company, and our clients will continue to be supported by the same YPTC staff they have come to know and respect. Importantly, our commitment to helping nonprofit organizations remains stronger than ever."

Pamlico Principal Andrew Tindel, who will join the YPTC board of directors with his colleagues Scott Stevens and Kaitlyn Cacioppo, said, "We are excited to welcome Your Part-Time Controller into the Pamlico family. YPTC is a unique and impressive company, and we are proud to partner with its entire team to advance the achievement of their important mission to build stronger nonprofits."

Fairmount Partners served as exclusive financial advisor to YPTC. Terms of the transaction were not disclosed.

About Your Part-Time Controller

Founded in Cherry Hill, N.J., in 1993, Your Part-Time Controller is headquartered in Philadelphia, with offices around the country. A staff of over 600 professionals provide outsourced accounting and financial services for over 1,700 nonprofit organizations in almost every state through a combination of on-site service, where YPTC has an office, to remote options everywhere else. More information about YPTC can be found at: www.yptc.com.

About Pamlico Capital

Pamlico Capital is a private equity firm founded in 1988 that invests in lower middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity investments of up to $125 million alongside proven management teams in its target industries: business and technology services, communications, and healthcare. Since inception, the firm has invested over $3.5 billion. For additional information, please visit www.pamlicocapital.com.

About Fairmount Partners

Fairmount Partners, a leading investment bank in the professional and technology services industry, served as exclusive financial advisor to YPTC throughout the transaction. For additional information, please visit www.fairmountpartners.com.

Media Contact:
Gillian Rhew
[email protected]

View original content:https://www.prnewswire.com/news-releases/your-part-time-controller-llc-announces-strategic-growth-partnership-with-pamlico-capital-301987592.html

SOURCE Pamlico Capital