Top 20 accounting firm EisnerAmper and fellow top 100 firm Krost CPAs are combining in a deal that is expected to close next month.
Krost’s eight partners and more than 100 professionals will join New York-based EisnerAmper as part of the transaction.
“I’m incredibly proud of what we’ve accomplished together, building the firm into a highly respected regional institution with an 85-year history,” Krost CEO Jason Melillo said in a statement. “I’m also very excited for us to join the fastest-growing firm in the nation and to expand and enhance our service offerings and client capabilities.”
Founded in 1939, Krost is a full-service accounting, tax, and business consulting firm servicing the hospitality, technology, financial services, manufacturing, real estate, sports and entertainment, nonprofit, and other sectors.
Krost has offices in Los Angeles, Woodland Hills, and Pasadena, CA.
“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.”
In August 2021, TowerBrook Capital Partners announced a deal to purchase an ownership interest in EisnerAmper, the first such transaction between a private equity firm and a top 20 accounting firm. Since then, EisnerAmper has made several M&A deals with smaller firms around the country.
EisnerAmper currently has four offices in California: Sacramento, San Diego, San Francisco, and San Mateo.
“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.”
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