Calling it a bold move that will ensure the firm maintains its spot as a market leader, EisnerAmper announced this week that TowerBrook Capital Partners, an international investment management firm, has made a strategic investment in the firm — one that will lead to new strategies.
TowerBrook’s significant capital infusion will help drive EisnerAmper’s long-term growth initiatives, which include accelerating the evolution of service offerings, investing considerably in talent and technology, and strategically expanding via organic growth and targeted mergers and acquisitions — all directed at exponentially enhancing client service.
Going forward, the firm can be viewed as such:
- EisnerAmper LLP, a licensed CPA firm, will provide attest services;
- Eisner Advisory Group LLC will provide business advisory and non-attest services.
EisnerAmper CEO Charly Weinstein said the partnership with TowerBrook will create a new model of ownership that will benefit clients.
TowerBrook Capital Partners L.P. describes itself as an investment management firm that has raised in excess of $17.4 billion to date and has a history of creating value for investors. The firm is co-headquartered in New York and London and focuses on making investments in companies headquartered in North America and Europe.
TowerBrook’s private-equity strategy primarily pursues control-oriented investments in large and midmarket companies, principally on a proprietary basis and often in situations characterized by complexity. TowerBrook’s structured opportunities strategy allows access to a broad array of opportunities, principally via structured asset and structured equity investments, enabling investment companies to access funding and expertise to support growth without ceding control.
TowerBrook is a certified B-corporation.
“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,” he said. “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.”
Jonathan Bilzin, co-president and managing director at TowerBrook, agreed.
“EisnerAmper’s commitment to providing industry-leading services has helped it to build a large, long-term client base that is continuing to grow,” he said. “We see a significant opportunity for the business to increase the pace of that growth with the help of TowerBrook’s resources and relevant experience.”
Deutsche Bank Securities Inc. acted as sole financial adviser to EisnerAmper and has provided committed debt financing in support of the transaction.
Financial terms of the transaction were not disclosed.