Schellman, a certified public accounting firm that provides assurance and compliance services, has secured private investment from Goldman Sachs Alternatives.
Financial details of the transaction were not disclosed.
However, Lightyear Capital, which became Shellman’s majority investor in 2021, will remain a minority shareholder after the transaction is completed.
Schellman plans to use the proceeds to support growth and expand its services.
The company also intends to strengthen its workforce and expand its reach into additional sectors and geographies, as it focuses on “areas of high demand including AI governance, federal compliance and digital trust.”
Avani Desai, CEO of Shellman, said: “We are incredibly excited to partner with Goldman Sachs Alternatives.
“From the beginning, it was clear that they understood our vision, our culture and the opportunity before us. Their global platform and long-term vision will help us continue to scale thoughtfully while maintaining the quality and integrity that defines Shellman.
“We are also extremely grateful to Lightyear Capital for their partnership over the past four years. Their support and belief in our team has helped us for this upcoming season.”
Shellman noted that its current leadership team will remain in place, with existing client engagement and service delivery expected to continue without interruption.
The transaction is scheduled to close in the second quarter of 2026, subject to customary regulatory approvals.
Commenting on the investment, Harsh Nanda, Head of Alternative Private Equity Technologies and Partner at Goldman Sachs, said: “The company’s technical leadership, focus on quality and long-term client relationships position Shellman well to meet the growing global demand for its services.
“We are confident that Goldman Sachs’ replacement will be a value-adding partner for Shellman and look forward to working closely with Avani and her team to grow the business while staying true to the values that have led to its success.”
“Shellman Secures Capital from Goldman Sachs Alternatives” was originally developed and published by Global Accounting Bulletin, a brand owned by Global Data.
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