TowerBrook Capital Partners completed a continuation vehicle (CV) transaction in connection with its investment in Eisner Advisory Group, an accounting, tax, outsourcing and business advisory firm serving middle-market clients and HNWIs across the United States. The transaction provides optional liquidity to existing investors while enabling TowerBrook to continue its partnership with EisnerAmper. Carlyle AlpInvest led the transaction, with funds managed by Hamilton Lane serving as co-lead alongside participation from syndicate investors.
TowerBrook initially partnered with EisnerAmper in 2021. Since then, the firm has worked closely with management to drive transformational growth, significantly scaling its platform and capabilities through a combination of organic initiatives, strategic acquisitions and continued investment in talent, technology and advisory services.
With TowerBrook’s support, EisnerAmper has completed 27 add-on acquisitions and made investments in its technology platform and AI capabilities to enhance operating efficiency and client service delivery. EisnerAmper has also expanded its offerings within higher-value advisory services, including fund administration, outsourcing and wealth management, while continuing to deepen its core tax and assurance capabilities.
The transaction marks a realization for TowerBrook Fund V, delivering liquidity to investors and EisnerAmper partners. It also positions the firm for its next phase of growth, with a focus on further scaling its platform, expanding service capabilities, advancing technology and AI initiatives, and executing on a robust pipeline of strategic acquisitions.
“Our original investment thesis for the accounting sector proved to be true. Yet without the right partner, realizing the opportunity behind that thesis would have been impossible,” Walter Weil, managing director at TowerBrook, said. “Our collective focus with management on key value drivers has entirely been centered on improving the day-to-day of the amazing partners at EisnerAmper, and through that focus ultimately ensuring the highest quality of service for our clients. While we have accomplished much in our first four-plus years, the long-term opportunity continues to be as compelling as ever, and we’re excited to continue our partnership with EisnerAmper as we build toward our goal of creating an end-to-end conduit of professional services for middle- and lower-middle-market companies.”
Jonathan Bilzin, managing partner and co-CEO of TowerBrook, said, “Our partnership with EisnerAmper reflects our strategy of collaborating with leading businesses to accelerate growth and build scaled, differentiated and technology-enabled platforms. EisnerAmper is a clear example of that approach in action. We are excited about the progress achieved alongside Charly and the management team and remain confident about the opportunity ahead as we continue to support the firm in its next chapter.”
Charly Weinstein, CEO of EisnerAmper, added, “Our partnership with TowerBrook has been transformational in helping us expand the business and broaden the solutions we deliver to clients. As we look ahead, with TowerBrook’s continued support, we remain focused on evolving our platform by investing in our people, enhancing our capabilities and leveraging innovation to meet our clients’ increasingly complex needs.”
Michael Hacker, partner at Carlyle AlpInvest, said, “This transaction reflects our focus on investing in market-leading companies. In partnership, TowerBrook and EisnerAmper have built a differentiated business, and we’re pleased to support them in the next phase of growth.”
Ken Binick, co-head of direct equity investments at Hamilton Lane, said, “We are proud to partner with TowerBrook and EisnerAmper as the company enters its next chapter of growth. EisnerAmper’s experienced leadership team and proven ability to drive organic growth and execute strategic acquisitions uniquely position the firm to capitalize on significant opportunities ahead.”
Moelis served as lead financial advisor, and Deutsche Bank served as co-lead financial advisor on the transaction. Kirkland & Ellis served as legal advisor to TowerBrook. Dechert served as legal advisor to EisnerAmper.
