Utah's Platform Accounting Group Secures $355 Million in Growth Financing, Including $85 Million Equity Sale Confirmed in an SEC Filing

EXECUTIVE SUMMARY

✅ Holladay, Utah-headquartered Platform Accounting Group (PAG) announced this month the closing of $355 million in strategic growth financing (a funding led by Treville Capital Group), monies designed to support additional acquisitions, technology investments, and nationwide expansion.

✅ A separate U.S. Securities and Exchange Commission disclosure (filed earlier in October 2026) revealed the sale of $85 million in equity securities to 10 investors by PT&C Group Holdings, LLC (apparently the parent company of PAG).

✅ Additionally, PAG Director of Communications, Shannon Mehner, confirmed to Utah Money Watch that the $85 million equity transaction was part of the $355 million financing, clarifying the relationship between the two disclosures.

HOLLADAY, Utah — 30 October 2026 — Holladay-headquartered Platform Accounting Group (PAG) has closed $355 million in strategic growth financing, monies designed to accelerate PAG's
🟢  Nationwide acquisition of accounting firms,
🟢  Expansion of services, and investments in
🟢  Technology,
🟢  Personnel, and
🟢  Infrastructure.

Announced on 20 October 2026 and led by Treville Capital Group, the financing provides additional capital for an organization that has completed more than 65 acquisitions since its founding in 2015 and now ranks among the nation's 50 largest accounting firms.

Separately, an examination of federal securities filings by Utah Money Watch reveals that $85 million of the financing (approximately 23.9%), involved the reported sale of equity securities by PT&C Group Holdings, LLC, apparently the parent company of PAG.

Shannon Mehner, PAG's Director of Communications, confirmed to Utah Money Watch that the $85 million equity offering is included within the larger $355 million financing package, rather than a separate transaction.

The confirmation provides additional insight into how institutional investors are financing PAG's expansion, although the composition of the remaining $270 million and the precise ownership interests represented by the equity offering have not been disclosed.

$355 Million to Support Continued National Expansion

Founded by Reyes Florez in 2015, Platform Accounting Group has developed an acquisition-driven business model that combines established local accounting and advisory practices with centralized technology, staffing, administrative services, and operational support.

The company
🔷  Has completed over 65 acquisitions,
🔷  Has operations in 15 states (as shown on its website), and
🔷  Currently serves more than 50,000 clients across the United States.

In fact, Accounting Today's 2026 ranking of the nation's largest accounting firms placed PAG at No. 41 nationally.

The latest financing was led by New York-based Treville Capital Group. When combined with details shared via the Form D filing, other participants in the total $355 million funding include
🟠 Aquiline,
🟠 Brightwood Capital Advisors, and
🟠 Siguler Guff,
🟠 Vista Credit Partners, and existing investor,
🟠 The Cynosure Group, a Salt Lake City-based investment firm.

To be clear, the company has not
🔶  Identified specific acquisition targets,
🔶  Targeted geographies,
🔶  Nor disclosed how much capital will be allocated to each expansion initiative.

Nevertheless, the transaction represents a substantial capital commitment to PAG's strategy of building a nationwide accounting and advisory organization while maintaining the local relationships of acquired firms.

SEC Filing also Reveals $85 Million in Equity Securities Sold

One particularly interesting aspect of the $355 million financing emerged from a separate 14 October 2026 Form D filing with the SEC.

The filing, submitted by PT&C Group Holdings, LLC (a Delaware limited liability company organized in 2025), reported an $85 million private offering of equity securities.

According to the filing,
🔴  The total offering was $85 million, with the entire amount reported sold;
🔴  Ten investors participated, with the first sale occurring October 2nd;
🔴  Perella Weinberg Partners LP was identified as the sales-compensation recipient; and
🔴  Sales commissions totaled $5.5 million, equivalent to approximately 6.47% of the offering.

Notably, Perella Weinberg also served as PAG's financial adviser on the broader $355 million financing.

That said, the Form D identifies the securities as equity, not debt, and reports that no securities remained to be sold under the offering.

However, the SEC filing does not
🔺 Disclose the investors' identities,
🔺 The issuer's valuation, or
🔺 The percentage of ownership represented by the $85 million transaction.

Nor does it establish whether the offering involved newly issued equity or transfers of existing ownership interests.

The documented equity sale represents approximately 23.9% of PAG's announced $355 million financing. However, the remaining $270 million was not publicly broken down into debt, additional equity, or other financing instruments.

Is PT&C Group Holdings the Parent Company of PAG? Probably.

The SEC filing also sheds light on the corporate organization behind Platform Accounting Group.

According to PAG's privacy policy page, the business operates through PT&C Group, LLC in a "dba" (aka, "Doing Business As") role as Platform Accounting Group.

The securities filing, meanwhile, identifies PT&C Group Holdings, LLC as the issuer of the $85 million equity offering.

Both entities share senior management connections and the exact same street address in Holladay.

The filing identifies Florez as chief executive officer and manager of PT&C Group Holdings and lists several directors associated with the more visible PAG organization.

These connections strongly suggest that PT&C Group Holdings functions as a parent or holding-company entity supporting or enveloping PAG's corporate structure.

However, the available public disclosures do not establish the precise ownership chain/relationship between the two entities or identify the interests acquired by investors in the October equity offering.

Consequently, the transaction provides evidence of equity financing within PAG's corporate organization, but not sufficient information to determine how ownership percentages or control rights may have changed with the latest financing, if at all.

{AUTHOR'S NOTE: For readers not familiar with such approaches, there are numerous financially and legally sound reasons for establishing parent and/or holding companies, even after a business has been operating for some time.

{That said, I am not an attorney, accountant, or financial advisor. As such, individuals and organizations interested in understanding such strategies should contact such professionals for appropriate counsel/advice.}

An Existing Utah Investor, Plus New Board Members

The latest financing follows by two-and-a-half years a February 2024 $85 million minority investment led by The Cynosure Group.

Clearly, Cynosure's participation in this new $355 million financing reflects an investment relationship dating back some time.

That said, the October financing also coincided with PAG Board Member appointments of
🟣 Barry Salzberg, former global chief executive officer of Deloitte, and
🟣 Daniel Bailey, a Treville Capital Group partner.

{AUTHOR'S NOTE: Salzberg also serves as a strategic adviser to Treville.}

Interestingly, both men are also identified as directors of PT&C Group Holdings in the October 2026 Form D filing, providing another documented connection between the securities issuer and PAG's operating organization.

Their appointments bring additional financial and accounting-industry experience to a company pursuing continued acquisition-driven expansion.

In summary, three facts are clear from our reporting:
ONE: The $355 million represents a significant step forward in potentially accelerating Platform Accounting Group's expansion as one of the nation's largest accounting services firms.
TWO: The included $85 million equity sale provides a separate insight into what I suspect will be an eventual exit for this strategically focused rollup firm; and last of all,
THREE: The addition of two senior executives as board members should provide Florez and his executive team with seasoned expertise, insights, and broad connections as PAG looks to continue its upward climb.

Taken in concert, this surely appears to me to be an exciting Utah-based professional-services firm destined for great things on the road ahead.

Congrats, Team PAG.

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