A fresh force is emerging in the UK’s professional services sector, challenging the dominance of the Big Four accounting firms. Unity Advisory, based in London and co-founded by former EY UK chair Steve Varley and ex-PwC UK managing partner Marissa Thomas, has launched with a $300 million private equity backing and a clear focus on AI-powered advisory services for CFOs of private equity-backed mid-sized companies.
With no legacy audit business or regulatory constraints, Unity is concentrating exclusively on scalable, high-margin advisory offerings such as finance operations, tax and compliance, deal readiness, digital transformation and M&A advisory. Its core target is companies with annual revenues between £500 million and £1.5 billion—often owned by private equity firms and frequently overlooked by traditional firms tied down by audit obligations.
Warburg Pincus, Unity’s primary backer, brings deep expertise in accounting sector innovation, with prior investments in Evelyn Partners and Brazilian fintech firm Contabilize. The firm’s support reflects confidence in Unity’s strategy of blending artificial intelligence and automation with private equity discipline, aiming to deliver faster results, lower error rates and stronger financial performance.
Industry research shows that AI-enabled firms like Unity significantly outperform traditional players. Metrics such as shortened monthly close cycles (3–7 days versus 10–15), higher staff utilisation (above 85%), EBITDA margins of 25–30%, and revenue per professional of $300,000 to $500,000 highlight the efficiency gains on offer. These figures drive higher valuations, with EBITDA multiples reaching 8×-10× and revenue multiples close to 1.8×—well above traditional audit-focused firms.
Unity’s decision to operate without an audit arm is a key differentiator. It avoids regulatory hurdles and conflicts of interest, enabling the firm to pursue larger advisory mandates with greater speed—an attractive proposition for private equity investors seeking asset-light, recurring-revenue businesses with strong growth potential. Its leadership team brings deep industry experience. Steve Varley offers a global perspective from his EY career, where he oversaw major Fortune 500 relationships, while Marissa Thomas’s background at PwC includes significant work with US private equity firms—hinting at future plans for international expansion.
Unity’s launch is well timed. The professional services market is undergoing rapid transformation, fuelled by AI adoption—expected to be widespread in accounting firms by year-end—and a wave of private equity consolidation, with over 100 CPA firm deals reported in 2024. Unity represents a new generation of firm—designed for scale, built for sale and operating with startup-like agility rather than the traditional partner-led model.
The firm is also adopting innovative fee structures, including value-based pricing, to attract clients and talent from legacy firms reliant on billable hours. This client-focused approach, coupled with advanced technology and scalable delivery, positions Unity not only to gain market share but to reshape the way CFO advisory services are delivered and valued.
In a professional services landscape ripe for disruption, Unity Advisory offers a bold new model—harnessing artificial intelligence and private equity discipline to redefine the future of advisory firms. Its arrival signals positive momentum for the UK’s ambitions to lead in responsible, technology-driven business innovation.
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