Well New York-based EisnerAmper’s business plans couldn’t be any clearer based on the press release they put out announcing the acquisition of LA-area firm KROST. (Why KROST insists on yelling we couldn’t say)
KROST may not be a well known headline-grabber and they’ve only got about 100 professionals on staff but they’ve been around since 1939. The firm you’ve never heard of until now provides accounting, tax, and business consulting services mostly to the hospitality, technology, financial services, manufacturing, real estate, sports and entertainment, nonprofit sectors.
Both firms involved in this union were quite transparent about their reasons for joining forces.
“The profession is evolving,” said Paren Knadjian, Principal, M&A and Capital Markets at KROST. “To stay relevant and, more importantly, to continue to provide a wide array of evolving services to our clients, we need the additional expertise and capital that a firm like EisnerAmper can provide. We believe they are the ideal partner to help us achieve that goal.”
As you may remember, EisnerAmper was the first big firm to bring in private equity at a time when such a deal was considered revolutionary. That time was only three years ago, believe it or not. Since then, they’ve been busy gobbling up small firms.
With the KROST deal they’ll gain another foothold in the Southern California market (they merged in La Jolla’s Lindsay & Brownell in 2022). “It’s strategically critical that we expand our presence in America’s second largest city,” said Jay Weinstein, EisnerAmper Vice Chair of Industries and Markets. “And I can’t think of a better partner than KROST, which has maintained a standard of excellence for more than eight decades. We warmly welcome them to the EisnerAmper family.”
That’s all well and good but when are you gonna give us another FORVIS? Think big, Eisner.
Relevant r/accounting discussion: EisnerAmper was the first large accounting firm acquired by private equity, back in 2021. For those who have worked at Eisner, what changes have taken place since PE took over?
