EisnerAmper completes continuation vehicle with TowerBrook Capital

EisnerAmper announced today that it completed a continuation vehicle transaction with its private equity investor, TowerBrook Capital Partners. 

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The Top 20 Firm was among the first accounting firms to take private equity money in 2021. The deal represents the equivalent of a flip — wherein instead of selling its stake to another investor, TowerBrook is holding onto it. 

Citrin Cooperman, another firm that was early taker of PE investment, completed a flip in January 2025, with Blackstone acquiring a majority stake in the firm from New Mountain Capital. The deal was the first instance of private equity ownership in an accounting firm switching from one group to another in the U.S.

“As we look ahead, with TowerBrook’s continued support, we’re focused on continuing to evolve our firm by investing in our people, enhancing our capabilities, and leveraging innovation to meet the increasingly complex needs of our clients,” Charly Weinstein, CEO of Eisner Advisory Group, said in a statement. 

EisnerAmper, based in New York, ranked No. 13 on Accounting Today‘s 2026 Top 100 Firms list. It reported over $1.2 billion in revenue with 475 partners and 4,700 employees across 43 offices across the U.S. and an international presence. Since 2021, the firm has completed 27 acquisitions. 

“We’re excited about the progress achieved alongside Charly and the management team and remain confident about the opportunity ahead as we continue to support EisnerAmper as it enters its next chapter,” Jonathan Bilzin, managing partner and co-CEO at TowerBrook, said in a statement..

Carlyle AlpInvest led the transaction, with funds managed by Hamilton Lane as co-lead and with participation from syndicate investors.

What it means

“The market was expecting to hear news of a ‘flip’ to another PE firm, but Towerbrook surprised us with their continuation fund and simply felt the best days were yet to come for EisnerAmper,” Allan Koltin, CEO of Koltin Consulting Group, who has advised the accounting firm on a majority of its deals since TowerBrook’s investment, commented. “EisnerAmper was a big beneficiary of the phrase, ‘Early adopters have their privileges,’ as many of their M&A deals came during 2022 to 2024 when there were only a handful of PE/CPA firm platforms in existence. Today with over 35 PE/CPA firm platforms, the playing field has become much more competitive for deals.”

“This is the next logical step in the progression of modernizing the capital structure of the accounting profession,” explained Bob Lewis, president of The Visionary Group. “It is proof that the trend in investing into firms has been successful enough to keep capital groups interested in further expansion into the industry. The level of activity in outside investment into accounting firms continues to increase as firms seek to expand their ability to provide more services beyond compliance to help their clients better manage their businesses and enhance profitability.”