EisnerAmper, a Top 25 Firm based in New York, is adding the partners and colleagues of Krost CPAs, a Top 100 Firm based in the Los Angeles area, in a combination expected to close in September 2024.
Krost was founded in 1939 and has eight partners and a staff of more than 100 professionals across offices in Los Angeles, Woodland Hills and its Pasadena headquarters. The accounting, tax, and business consulting firm focuses on the hospitality, technology, financial services, manufacturing, real estate, sports and entertainment, nonprofit, and other sectors.
"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, in a statement. "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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"I'm incredibly proud of what we've accomplished together, building the firm into a highly respected regional institution with an 85-year history," said Krost CEO Jason Melillo in a statement Tuesday. "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."
Financial terms of the deal were not disclosed. EisnerAmper and its Eisner Advisory Group ranked No. 17 on Accounting Today's 2024 list of the Top 100 Firms, with annual revenue of $849 million. EisnerAmper has 450 partners and 4,500 staff. Krost ranked No. 82, with annual revenue of $70.87 million, and has eight partners and 100 staff members.
"The profession is evolving," said Paren Knadjian, principal of M&A and capital markets at Krost, in a statement "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."
EisnerAmper has been busy on the M&A front since it
In May, it announced it was adding