Street Talk

PE-backed Stannards in bolt-on, hiring frenzy; targets $100m revenue

Sarah Thompson, Kanika Sood and Emma Rapaport

Oct 26, 2025 – 2.57pm

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In the 12 months since private equity firm Pemba Capital Partners landed on its register, Stannards has embarked on an aggressive bolt-on and C-suite hiring spree that’s doubled its staff and put it on the path to $100 million revenue over the next two years.

That strategy, according to Stannards managing director Peter Angelini, is designed to turn the accounting and advisory boutique into a best-in-class mid-tier firm ahead of an expected wave of industry consolidation, which has ramped up this month with the mooted sale of Grant Thornton Australia.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.