Nichols Cauley announced it has agreed to merge with insurance brokerage Partners Risk Services and transaction advisory firm JGH Consulting to create a combined platform designed to provide privately held small and midsize businesses, entrepreneurs, and family-owned companies with an integrated suite of professional services spanning accounting, tax, audit, insurance, and transaction advisory.
The new platform will be supported by a strategic growth investment from Madison Dearborn Partners, a Chicago-based private equity firm, which the companies said will provide capital and financial-services expertise to help broaden offerings and expand geographic reach, initially across the Southeast and beyond.
Leadership of the combined company is expected to remain continuous across the core business lines, with Nichols Cauley Managing Partner Todd Giddens set to become chief operating officer, Partners Risk Services CEO Joe Thompson leading risk management and insurance services, and JGH Consulting Managing Partner Greg Hicks leading transaction advisory. Alan Whitman, former chief executive and chairman of Baker Tilly U.S., has been appointed CEO to lead the combined company and oversee the full services suite.
The transaction is expected to close in the first quarter of 2026. Following closing, Nichols Cauley will operate under an alternative practice structure, with Nichols Cauley & Associates, LLC, a licensed CPA firm, providing attest services, and Nichols Cauley Advisory Group, LLC providing business advisory, tax, and other non-attest services.
The firms said the merger is intended to give clients a “one-stop shop” model, pairing traditional accounting and advisory capabilities with risk and insurance solutions and M&A-oriented transaction support across the business lifecycle, from ongoing compliance and planning to strategic transactions.
KEY QUOTES:
“We are delighted to be supporting this innovative combination of three leading complementary financial services businesses into one synergistic platform. We look forward to working closely with the platform leadership and the broader team on their mission to deliver a unified service offering to clients across the Southeast U.S. and beyond.”
Vahe Dombalagian, Managing Partner and Co-Head of Financial Services, Madison Dearborn Partners
“This merger is about more than staying competitive—it’s about making sophisticated business solutions accessible and meaningful to the clients who need it most. By combining our strengths, we amplify our ability to innovate and provide value-add solutions across accounting, tax, audit, advisory, insurance and transaction advisory services. We’re committed to being the partner of choice that walks alongside our clients through every step of their journey.”
Todd Giddens, Managing Partner, Nichols Cauley
“Having spent years helping scale Baker Tilly into a leading national platform, I see an extraordinary opportunity to bring that experience to Nichols Cauley as we build something truly differentiated for private businesses and entrepreneurs. By unifying accounting, tax, audit, insurance, and transaction advisory under one roof and partnering with Madison Dearborn Partners, we’re offering a next-generation platform that breaks from tradition and equips business owners with the integrated, sophisticated advice they need at every stage of their journey.”
Alan Whitman, Chief Executive Officer, Combined Platform
