EisnerAmper LLP, a Top 20 Firm based in New York, has added St. Clair CPAs, a firm in New Jersey and Pennsylvania, in EisnerAmper’s second M&A deal this month.
The deal with St. Clair CPAs will bring five partners and 58 professionals to EisnerAmper. Financial terms of the deal were not disclosed. EisnerAmper ranked 18th on Accounting Today’s 2020 list of the Top 100 Firms, with $380.6 million in annual revenue. It has 200 partners and principals and more than 2,000-plus employees. St. Clair has offices in Merchantville, New Jersey, and Conshohocken, Pennsylvania. Last week, EisnerAmper expanded in Texas by merging in
The two deals are the latest in a string of M&A transactions in the accounting profession this year. While dealmaking slowed down in the first half of last year due to the COVID-19 pandemic, the M&A market has since bounced back strongly as firm leaders have gotten more accustomed to making their arrangements remotely while expanding their workforce in key geographic markets.
“St. Clair has a strong reputation within the business and corporate executive community throughout the Philadelphia and South Jersey market,” said Paul Dougherty, partner-in-charge of EisnerAmper’s Philadelphia practice, in a statement Monday.
St. Clair CPAs dates back to 1986 and has clients in various industries and sectors, including franchises, construction, employee benefit plans, manufacturing, mortgage banking, service industries, nonprofits and schools, real estate and others. The firm recently ranked in 13th place in franchise accounting by Entrepreneur magazine.
“We are excited about this opportunity to join operations with EisnerAmper, as we have respected this firm for many years because our values align,” said partner William St. Clair in a statement.
Last May, EisnerAmper added
