TowerBrook Capital Partners, an international investment management firm, made a strategic investment in EisnerAmper and is separating the non-attest side into an entity called Eisner Advisory Group LLC, the two announced on Aug. 2.
Terms of the transaction were not disclosed.
EisnerAmper LLP, as a licensed CPA firm, will continue to provide attest services, while Eisner Advisory Group LLC will offer business advisory and non-attest services.
The capital infusion will help EisnerAmper with its long-term growth plans, including new service offerings, investing in talent and technology, and strategically expanding via organic growth and targeted mergers and acquisitions.
“EisnerAmper and TowerBrook share common goals to provide superior client service, accelerate growth, create value, attract and retain the best and brightest talent, and be responsible corporate citizens,” said EisnerAmper Chief Executive Officer Charly Weinstein. “We’re supremely confident that now is the right time for this forward-looking move, and we’re excited about the future opportunities this creates for our clients, our communities and our team.”
“Rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients. Our colleagues will be able to chart a course for success in our purpose-built practice structure. EisnerAmper will continue to be a leader of positive transformative change for the profession as a whole,” added Weinstein.
This partnership will provide EisnerAmper with significant new capital and resources, advancing EisnerAmper’s mission of “helping clients grow and succeed,” while further realizing its vision of transforming the firm and the profession.
Deutsche Bank Securities Inc. acted as sole financial advisor to EisnerAmper and provided committed debt financing in support of the transaction.
The New York-based accounting and business advisory firm has New Jersey offices is Iselin, Merchantville and Princeton.