AC Lordi, an accounting and risk management consulting and executive search firm, announced a management buyback of the firm from Chicago Growth Partners and Peppertree Capital, which purchased the company in 2005 for $25.5 million.

The transaction closed this week and includes a group of 11 AC Lordi principals and company directors. Terms were not disclosed.

When the opportunity arose to re-acquire the firm, it was a logical decision,” said Frank Lordi, CEO and managing principal. “A return to local ownership offers us greater flexibility in hiring and rewarding our employees, pursuing strategic partnerships and other market opportunities, and ultimately fulfilling our long-term vision.”

AC Lordi, headquartered in Malvern, Penn., serves clients in Greater Philadelphia and the mid-Atlantic region and targets most major industries.