How Private Equity Is Buying Up Accountancy Firms

Episode 38 of Private Equity Conversations looks at how PE firms are consolidating the accounting industry. Lucas and Luna discuss the case of EisnerAmper, one of the top 20 US accounting firms, which sold a majority stake to private equity in 2021. They break down the economics: the 'evergreen' nature of audit and tax work, the recurring revenue model that attracts PE, and the challenge of partner succession. They also examine the impact on audit independence, the rise of 'alternative practice structures,' and what the trend means for smaller firms. Specific numbers include the ~$5 billion valuation of the EisnerAmper deal and the roughly 40% of US accounting firms expected to face partner retirement within a decade. A focused look at why balance-sheet money is flowing into a profession that once prided itself on partnership structure. #PrivateEquity #Accounting #EisnerAmper #Audit #Tax #ProfessionalServices #Consolidation #Partnership #AlternativePracticeStructure #Finance #Business #PE #RecurringRevenue #SuccessionPlanning #Top20Firm #Independence #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo