Establishes a Unique Global Business Advisory Firm Providing Customized Expertise Across Issues, Industries, and Disciplines
WASHINGTON, Aug. 27, 2018 /PRNewswire/ -- Ankura, a leading business advisory and expert services firm that leverages integrated risk management, governance, compliance, investigations, forensics, technology, turnaround and restructuring, and management consulting capabilities, today announced the completion of its acquisition of the Disputes, Forensics and Legal Technology (DFLT) segment and the Transaction Advisory Services (TAS) practice of Navigant (NYSE: NCI). The addition of the DFLT and TAS businesses to Ankura's existing business advisory and expert services capabilities creates a unique global business advisory firm with over 1,400 employees in over 30 offices worldwide and over $500 million in revenues.
"Navigant's DFLT and TAS businesses bring a global footprint and complementary expertise to Ankura, enhancing our client offerings, deepening our relationships with clients, and creating exciting new career opportunities for our people," said Roger Carlile, CEO of Ankura. "I am thrilled to welcome our new colleagues who share our passion, growth-oriented mindset and motivation for success. I look forward to working with them and our existing team members as we build a unique business advisory firm with worldwide scale and expanded capabilities to comprehensively and effectively address the diverse and complex challenges facing our clients today."
Founded in 2014, Ankura differentiates itself with an integrated approach utilizing customized solutions developed across disciplines to address the varied challenges and opportunities present in each client situation. Ankura offers deep expertise and experience in multiple disciplines, including forensics, risk, compliance, data and technology, litigation and disputes, turnaround and restructuring, and strategy and operations. With the addition of the DFLT and TAS businesses, Ankura is now a market leader in the legal, risk, and compliance consulting market, with expanded forensics expertise, strengthened litigation and disputes capabilities, and a more comprehensive data and technology offering. Additionally, the DFLT and TAS businesses bring the leading global Construction practice to Ankura, adding a new vertical in addition to complementing Ankura's other offerings.
"There is strong cultural alignment and complementary expertise between Ankura and the DFLT and TAS businesses, which supports our vision to build Ankura as a firm based on collaboration and known for how we solve problems," said Philip Daddona, co-president of Ankura. "We share a responsive and entrepreneurial culture and are driven by the opportunity to find new and better ways to deliver the highest quality solutions and service to our clients. We are confident that the addition of our new colleagues advantageously positions, and continues to differentiate, Ankura in the marketplace."
As part of the acquisition, David Tortorello, formerly Navigant's DFLT segment leader, and Darin Buchalter, formerly leader of Navigant's global Construction practice and Disputes & Economics practice outside the United States, will both serve on Ankura's Board of Directors and Executive Committee.
"At the beginning of the process, I knew it was important that the DFLT and TAS businesses find the right partner to start its journey as a privately-owned company," said David Tortorello. "Joining Ankura and its well-respected leadership team ensures that the DFLT and TAS businesses are set to thrive and grow. We are thrilled to be a part of this innovative, solutions-oriented firm and to help build upon Ankura's collaborative, nimble approach to client service. Sharing similar cultures and a commitment to bringing innovative, customized solutions to clients, together we have a long runway of growth and success ahead of us."
The acquisition of Navigant's DFLT and TAS businesses was announced on June 25, 2018 and is valued at $470 million.
Ankura is a business advisory and expert services firm defined by HOW we solve challenges. Whether a client is facing an immediate business challenge, trying to increase the value of their company or protect against future risks, Ankura designs, develops, and executes tailored solutions by assembling the right combination of expertise. We build on this experience with every case, client, and situation, collaborating to create innovative, customized solutions, and strategies designed for today's ever-changing business environment. This gives our clients unparalleled insight and experience across a wide range of economic, governance, and regulatory challenges. At Ankura, we know that collaboration drives results. For more information, please visit: www.ankura.com.