Aphias Capital plans to make a majority growth investment in SNZweig Advisors in connection with the combination of Stambaugh Ness and Zweig Group, creating an integrated professional services platform focused exclusively on architecture, engineering and construction firms.
The transaction is expected to become effective by the end of 2026. Financial terms were not disclosed.
Stambaugh Ness and Zweig Group began working together through a strategic partnership in March 2025. Their formal combination will bring financial, accounting, strategic, technology and transaction advisory capabilities under one organization serving the AEC industry.
Aphias’ investment is intended to support SNZweig’s national expansion, technology development and addition of new services.
The company also plans to pursue strategic acquisitions and add professionals across advisory, audit, tax, technology and consulting as it scales the model.
SNZweig will operate under an alternative practice structure. SNZweig Advisors will provide advisory, tax, technology and consulting services, while Stambaugh Ness LLC will remain an independently licensed CPA firm responsible for audit and attest work.
Aphias is a San Francisco-based lower-middle-market private equity firm focused on essential services and healthcare services.
Lazard served as financial advisor to Aphias, with Kirkland & Ellis providing legal counsel. Citizens Capital Markets & Advisory advised Stambaugh Ness and Zweig Group, with Vedder Price acting as legal counsel.
KEY QUOTES:
“This is a defining moment for the AEC industry. SNZweig represents more than the combination of two organizations; it represents a new opportunity for the industry. Together, we’ve designed something unprecedented; equipping firm leaders with insight, confidence, and support to grow stronger and more resilient.”
Steven L. Hake, CEO of SNZweig
“We’ve created a platform unlike anything else in the AEC market – one that puts financial, strategic, technology, and transaction expertise under a single roof. That’s what lets us deliver on our mission of elevating the industry and helping firms excel in an increasingly complex future. Firms of every size, from regional practices to national players, will benefit from the expanded resources SNZweig brings to the industry.”
Chad Clinehens, President of SNZweig
“Stambaugh Ness and Zweig Group have each spent decades earning the trust of AEC firms, and their partnership has already shown what the integrated model can do for clients. We are proud to partner with the SNZweig team to create the market-leading professional services provider and knowledge partner to AEC firms.”
Rob Wolfson, Founder and Managing Partner at Aphias Capital
“SNZweig’s expertise and specialization are unmatched in the AEC industry. We were most impressed by the firm’s people who are renowned in the sector, passionate about what they do, highly experienced, and singularly focused on helping their clients address their most complex needs to create value. We are excited to help them continue to elevate the industry.”
Luke Torres, Managing Director at Aphias Capital
