Withum, Smith Brown plans to merge with EisnerLubin

NJBIZ has learned that Princeton-based Withum, Smith & Brown P.C. one of the state’s top accounting and consulting firms, plans to announce Monday that it will merge with EisnerLubin LLP, of New York. Terms of the deal have not been disclosed.

NJBIZ has learned that Princeton-based Withum, Smith & Brown P.C. one of the state’s top accounting and consulting firms, plans to announce Monday that it will merge with EisnerLubin LLP, of New York. Terms of the deal have not been disclosed.

EisnerLubin, founded in 1923, has about 50 employees and had about $11.6 million in revenue from its accounting and advisory work.

“We think they’re a great fit for our firm culturally, which is always the most important aspect for us. In addition, their top three industry segments fit in well with our top industry segments, that being manufacturing, real estate and not-for-profit,” Bill Hagaman, Withum’s managing partner and CEO, told NJBIZ in an exclusive interview. “From a service perspective, they are very strong in trusted estate planning, which will enhance our trusted estate planning service offerings.”

Withum had been looking to expand its presence in the New York market and had been seeking opportunities for the past five years. The two companies began discussion about a year ago, Hagaman said.

The EisnerLubin name will eventually be transitioned out of use over an unspecified period of time.

EisnerLubin has offices in midtown Manhattan, and Garden City, N.Y. The firm also has a North Brunswick office, which is not staffed at present and will be closed down.

Withum has seven New Jersey offices, in addition to offices in New York, Pennsylvania, Maryland, Florida and Colorado.