Dechert Advises EisnerAmper on TowerBrook Continuation Vehicle Transaction

Dechert recently advised Eisner Advisory Group LLC on the completion of a continuation vehicle transaction in connection with TowerBrook Capital Partners L.P.’s investment, providing optional liquidity to existing investors and enabling TowerBrook to extend its successful 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 in the first major private equity partnership with a top 20 U.S. accounting firm. 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 meaningful 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. Since the partnership began, EisnerAmper has grown to become the 13th largest accounting firm in the U.S., with more than US$1.2 billion in revenue.

EisnerAmper, one of the largest business consulting firms in the world, comprises EisnerAmper LLP (a licensed independent accounting firm that provides client attest services) and Eisner Advisory Group LLC and its subsidiary entities, an alternative practice structure that provides business advisory, tax and non-attest services in accordance with all applicable laws, regulations, standards and codes of conduct. TowerBrook is a modern value investor focused primarily on transforming services businesses across four sectors in Europe and North America: business services, consumer products and services, financial services and healthcare. TowerBrook invests through private equity, structured opportunities, growth and impact, and strategic partnerships, offering flexibility across the capital structure, and has US$28 billion of assets under management.

Corporate partner John D. LaRocca led the Dechert team advising EisnerAmper, which included corporate associates Sean Herron, Mary Kate Alexandre, Ji Hong Park, Mihai Morar, Christopher Mayer, Robert Gregory and Devyn Kurpis; junior transactional associate Henry Stewart; employee benefits partner Kevin Kay with associates Tabitha Crosier, Brie Michaelson and Sam H. Minter; labor partner J. Ian Downes with associate Tanya Warnke; global tax partner David Passey with associates Josh Meyerson and Ishani Kundu; and antitrust partners Michael Okkonen and James Fishkin.

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