FTI Consulting buys US based restructuring consultancy CDG Group

13 July 2017 Consultancy.uk

FTI Consulting has acquired CDG Group, a New York based consultancy specialising in restructuring services. The deal sees 19 partners and senior advisors join FTI’s North American Turnaround & Restructuring arm. 

The added group, a privately held advisory founded in 1998, brings expertise to FTI that spans a range of financial advisory services, including restructuring, turnaround management, solvency analysis, debt restructuring, liquidity sourcing, as well as strategic planning, M&A advisory and corporate finance. 

The move bolsters FTI’s Turnaround & Restructuring practice, which sits within its broader Corporate Finance & Restructuring business. “The addition of these professionals will further enhance FTI Consulting’s top restructuring position in North America by strengthening the firm’s company-side and interim management capabilities”, said Michael Eisenband, Global Co-Leader of the Corporate Finance & Restructuring segment at FTI Consulting, adding “CDG is a renowned corporate finance and restructuring advisory business with an impressive reputation and track record of client success.”

FTI Consulting is one of the major players in the restructuring advisory landscape, both globally as well as in the US. The firm’s consultants help clients facing distress stabilise finances and operations, and craft turnaround strategies for renewed success. For clients in crisis, the advisors develop liquidity forecasts, improve cash-flow management, obtain additional financing, negotiate loan covenant waivers and guide complex debt restructuring. FTI’s arm also provides analytical and advisory services to lenders and unsecured creditors of distressed borrowers. Testimony to its leading position, FTI was earlier this year honoured with 16 ‘Turnaround Awards’ by M&A Advisor, one of the main client-driven platforms for financial advisory in North America. “These awards demonstrate our dedication to delivering best-in-class turnaround and restructuring expertise for our clients”, said Eisenband.

FTI Consulting buys US based restructuring  consultancy CDG Group

As part of the transaction, 19 professionals, including five Senior Managing Directors, join FTI Consulting, based in New York. Robert Del Genio, co-founder of CDG Group and a former Corporate Finance Partner at EY, has been appointed Senior Managing Director and Co-Leader of FTI’s Corporate Finance & Restructuring segment in the New York Metro region – he will lead the unit alongside Senior Managing Director Steven Simms.

Commenting on the integration within the larger consultancy – FTI Consulting has more than 4,700 employees located in 29 countries – Del Genio said, “As the preeminent turnaround and restructuring firm in the US, FTI Consulting is the ideal platform for our team to enhance and expand our client offerings and relationships. Our expanded practice, deep bench of experienced professionals and business synergies will only enhance FTI Consulting’s leading position.”

Deals closed by FTI Consulting

FTI Consulting has in recent years completed a number of acquisitions to inorganically expand its footprint. In 2014, FTI Consulting for instance acquired London-based TLG Partners, while in 2015 it picked up Netherlands based tax expert Global VAT Compliance and international media specialist HighView Media. Late last year the global advisory firm bolted-on a large team of consultants from JSB, a UK based learning, development and organisational consulting firm. 15 professionals joined its ranks in London, operating in its Employee Engagement & Change Communications practice within its Strategic Communications segment.

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