EisnerAmper, a Top 20 Firm based in New York, is adding Spielman Koenigsberg & Parker, a CPA firm also based in the Big Apple.
The deal is expected to close early next year and is the latest in a series of M&A transactions since EisnerAmper received private equity funding.
Financial terms of the deal were not disclosed. EisnerAmper has approximately 400 partners and 4,000 staff, while SKP has six partners and a staff of more than 60. EisnerAmper and its Eisner Advisory Group ranked No. 17 on Accounting Today’s 2023 list of the Top 100 Firms, with annual revenue of $614 million.
SKP dates back to 1955 and its clients include high-net-worth individuals, family offices, closely held businesses, manufacturers, investment funds, nonprofits, international corporations and entertainment companies. SKP also offers specialized services such as business management, advisory, contract structure and negotiations, licensing and royalty examinations, dispute resolution, estate planning, charitable foundation establishments and others.
“SKP has always prided itself on serving a diverse clientele, providing the ultimate client service model and solutions developed upon an unwavering focus on each client’s specific needs,” said SKP partner Richard Koenigsberg in a statement Wednesday. “In EisnerAmper, we found a like-minded partner that will enable us to expand and deepen the services we provide, while still maintaining the boutique-level of attention that our clients deserve. I join Lawrence Spielman, Gary Parker and the other SKP partners when we say we’re excited about bringing SKP into the future with EisnerAmper.”
EisnerAmper sees SKP’s clientele as an attractive addition to its roster. “SKP serves an interesting, exciting client base,” said Nicholas Tsafos, partner-in-charge of EisnerAmper’s New York City office, in a statement. “Combining with them brings new talents and skills to the EisnerAmper brand and expands the services we can offer our clients. No matter the client, however, they give the same high level of exacting, dedicated and custom service — delivered with consistent integrity. We’re proud to call them our colleagues.”
Koltin Consulting Group CEO Allan D. Koltin advised both firms on the merger. “When you talk about global best-in-class accounting, business management and entertainment consulting firms, SKP is at the top of everyone’s list,” Koltin said in a statement. “This is another example of the amazing journey EisnerAmper has had over the past two years — doubling in size and adding incredible talent, resources and geographic expansion.”
EisnerAmper has been doing a string of M&A deals since receiving private equity funding in 2021 from TowerBrook Capital Partners, promptly the firm to separate its non-attest side and rename it Eisner Advisory Group while retaining the audit and attest side under the EisnerAmper brand. In May, EisnerAmper added Morrison & Morrison, expanding the firm’s footprint to Chicago. In April, the firm acquired Postlethwaite & Netterville, a Top 100 Firm based in Baton Rouge, Louisiana. Last November, EisnerAmper expanded to Southern California by merging in Lindsay & Brownell in La Jolla. In October, the firm added the Hoffman Group, a CPA firm in Baltimore, and last August, it expanded in Minnesota by adding Lurie, a regional leader in the Midwest. Last June, it added New York-based Top 100 Firm Raich Ende Malter, and in March of last year, it added Popper & Co., another firm based in New York City.
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