EisnerAmper to merge in Raich Ende Malter
EisnerAmper, a Top 20 Firm based in New York, is adding Raich Ende Malter & Co. a Top 80 Firm, also based in the city, with the deal expected to close this summer.
REM dates back to 1972 and has 200 professionals and 45 partners and principals, with offices in New York City, Long Island, New Jersey, Florida and the Cayman Islands.
Financial terms of the deal were not disclosed. EisnerAmper ranked No. 18 on Accounting Today’s 2022 list of the Top 100 Firms, with $488.8 million in annual revenue, over 200 partners and more than 2,100 employees. Raich Ende Malter ranked No. 80, with $62 million in annual revenue.
REM provides audit, attest, tax, family office and business advisory services, focusing on clients in the real estate, financial services, manufacturing, professional services, technology, hospitality, franchising, media and other business sectors.
“In EisnerAmper, we’ve found a partner that amplifies our efforts to create the highest level of value for our clients while providing our family of accounting professionals an innovative culture in which they can thrive and prosper,” said REM managing partner Ellis Ende in a statement Thursday. “We look forward to continuing these efforts with our new colleagues at EisnerAmper.”
The deal will expand EisnerAmper’s presence in New York and other parts of the country, as well as its client base. “This exciting combination greatly enhances EisnerAmper’s key services areas as well as adds some new interesting industry groups,” said Christopher Loiacono, EisnerAmper vice chair of services, in a statement. “Adding 245 experienced professionals adds a tremendous amount of brainpower to the firm that will add real and immediate value to our clients. We warmly welcome REM to the EisnerAmper family.”
EisnerAmper has been doing several M&A deals since receiving private equity funding last August from TowerBrook Capital Partners, setting off a wave of investment from PE firms in the accounting profession (see story). In March, EisnerAmper added Popper & Co., another firm based in New York City. Last December, EisnerAmper merged in Caler, Donten, Levine, Cohen, Porter & Veil, a firm based in West Palm Beach, Florida. Last June, prior to the investment from TowerBrook, the firm merged in ZenTek Data Systems, a technology consulting firm headquartered in Fort Lauderdale, Florida. In February of last year, it completed a pair of M&A deals with St. Clair CPAs in New Jersey and Pennsylvania and Goldin Peiser & Peiser in Dallas.