Professional services firms have long been utilised by large firms for their operations. But as the mid- and lower-mid-market begins to mature, this is increasingly the case for SMEs and HNWIs. That was the thesis behind TowerBrook Capital Partners’s investment in professional services firm EisnerAmper.
In March, TowerBrook announced the completion of a continuation vehicle transaction for EisnerAmper, which completed 27 acquisitions over the course of the investment and now has more than $1.2bn in revenue. We sat down with TowerBrook Managing Director Walter Weil to learn more about the investment.
Weil discusses how the needs of the mid and lower mid market have evolved (0:51); how Eisner’s M&A helped broaden its customer base (3:56); why the firm’s partnership structure was limiting its ability to invest (05:24); modernising Eisner’s ERP software (9:43); how efficiency considerations and a tight domestic labour market motivated its offshoring strategy (11:44); and the justification for moving Eisner into a continuation vehicle (13:37).
