Catalyst - Winter 2011 - ‘A Combination of Equals’ Eisner and Amper, Politziner & Mattia Combine to Form EisnerAmper LLP
At the end of the day, a business merger is all about synergies. When two organizations have similar goals, effective strategies and world class, experienced people, success is inevitable.
When the experienced accounting and consulting firms of Eisner LLP and Amper, Politziner & Mattia, LLP announced their combination and unveiled the new firm EisnerAmper LLP in August of 2010, the business community stopped to take notice.
The combination is poised to enhance the capabilities of the firm going forward, offering clients increased expertise while staying true to the key elements of both companies: accessibility and responsiveness.
This combined firm offers industry expertise in an expanded marketplace throughout the Northeast. There are 11 offices along the New York/New Jersey/Philadelphia corridor and in the Cayman Islands. EisnerAmper now has 1,200 employees, including 170 partners, making it the 14th largest overall in the United States.
Of course, a lot went into the final deal – plenty of discussions and due diligence. But at the core of the deal is a common thread – a focus on clients and an interest in expanding geographically and by niche areas of expertise.
Howard Cohen, CPA, chairman of EisnerAmper LLP, is formerly the managing partner of Amper, Politziner & Mattia, LLP. “Both firms were looking at options in the marketplace and knew each other’s strengths.”
Charly Weinstein, CPA, is the chief executive officer of EisnerAmper LLP and is a member of the firm’s Executive Committee. Prior to the merger, he was managing partner of Eisner LLP. “We decided it was worth getting together over breakfast. And from that conversation, we moved forward.”
Both firms pride themselves on having corporate cultures that are based on strong client relationships and providing great client service. Shortly after beginning discussions, both men said they found their firms’ “cultures and strengths complemented each other to a remarkable degree.”
Weinstein believes both firms have a strong history of growth by focusing on areas of expertise. While each firm has its own niche areas, their various areas of expertise are synergistic. For example, Amper’s team has enjoyed success in the banking and insurance niches while Eisner’s focus has been more on the private equity, hedge fund and venture capital side. Both companies offered significant services to public companies and focus on areas of technology. Tech-wise, Eisner did a lot of work in software and hardware development, Internet and media companies. Amper did a lot of biotech and life science industry work.
“Both firms’ skill sets are the same in serving entrepreneurial companies,” Weinstein added. “Together, we have a deep level of talent and continue to pursue growth. We've taken pains to present a picture that looks and acts like a combination of equals.”
“When you look at the combination, there was no geographic overlap and various complimentary things we brought to the table. Eisner was in New York and Amper’s strength was in New Jersey and Pennsylvania,” Cohen said.
There is no separation of offices now; the new firm operates out of Eisner’s former New York City headquarters as well as Amper’s former New Jersey and Philadelphia offices.
Going forward, Cohen said that EisnerAmper would consider further expansion if it found a firm with a niche practice “that fed into one of our growth niches or geographic areas of interest.”
Cohen said that the final decision to combine had a lot to do with “what's going on in the industry.” Joining resources and expertise, he said, offers clients a deeper breadth of experience when it comes to what the market needs at this time.”
Weinstein added that “hands-on partner involvement combined with the expertise and capabilities of a large-scale firm enable us to service clients in this marketplace. “As an EisnerAmper client, you work directly with the person who has the expertise. With us, you don't have to go through a lot of layers. You create a direct relationship with the person who is advising your company. That’s integral to who we are as a firm.”
In a statement put out by Weinstein and Cohen on the day the combination was announced in August, the managing duo spoke to clients – past, present and future -- with enthusiasm.
“Though our name may be changing, your day-to-day relationships with partners and staff will not change. Your key contacts will continue in their present roles and will always be available to you. Please feel free to contact either of us if you have any questions about the combination or the enhanced service capabilities we will now offer. We are all extremely excited about the future, and we welcome the opportunity to assist you.”
EisnerAmper's Catalyst: Winter 2011
- A Combination of Equals’ Eisner and Amper, Politziner & Mattia Combine to Form EisnerAmper LLP
- One for All…Managing the Other Capital – the Human Kind
- All the Right Pieces: Answering the Call from Big Pharma
- Legally Speaking, M&A Due Diligence is Worth its Weight in Gold
- Ingredients of a Successful M&A Deal