Top 100 firm Friedman LLP will integrate Executive Sounding Board Associates LLC into its firm. The pairing of the business consulting, turnaround management, restructuring and crisis management practice firm will go into effect on Jan. 1, 2015.
Friedman and ESBA will continue to operate as independent brands. Friedman provides accounting and business services provider to public and private companies. ESBA is a turnaround, restructuring, crisis management, corporate finance, and litigation support advisory firm.
The integration will give Friedman a solid footprint in Pennsylvania and Maryland and provides clients of both firms with full service accounting, tax, advisory, and restructuring services.
Conversely, ESBA will grow its presence in New York and will have the ability to leverage its’ expertise and contact base with the support of Friedman personnel.
Clients of ESBA gain access to Friedman’s array of financial, tax and audit services that are critical to successful turnarounds while Friedman’s ability to drive turnarounds in its own client base is enhanced by ESBA’s focus on special situations as well as cash flow enhancement and profit improvement.
“The Friedman/ESBA integration arose out of a mutual trust and desire to provide our clients with an increasing depth of high quality professional services,” said Bruce Madnick, managing partner of Friedman LLP. “This relationship with ESBA will provide a strong entrance into both the Philadelphia and Baltimore markets and allow us to enhance our practice overall.”
“This integration is an opportunity for both ESBA and Friedman to expand our respective markets and services,” added Robert Katz, president of ESBA. “Our offerings complement each other nicely, especially Friedman’s Forensic Accounting, Litigation Support and Valuation Services (FLVS) with ESBA’s restructuring and crisis management expertise.”
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