Deloitte buys restructuring specialist CRG Partners

Deloitte has bought CRG Partners, a leading turnaround and restructuring firm based in the US. Approximately 60 consultants will be integrated into the Financial Advisory Services (FAS) unit of the Big 4 firm. The deal is expected to close in a month and terms of the deal were not disclosed.

CRG Partners is headquartered in New York and has 6 other offices in the US. Over the past decade, the firm has built a strong track record. In 2010, CRG Partners won the 'Turnaround Management Association's Mega Company Turnaround of the Year Award' for its work with Pilgrim's Pride Corporation. CRG Partners is also renowned for its successful turnaround of Major League Baseball club Texas Rangers.

1,000 restructuring experts

The acquisition expands Deloitte's financial restructuring, turnaround management and bankruptcy reorganization capabilities. "This strategic acquisition is a springboard for our practice in broadening its footprint and advancing our position as a leading provider of restructuring and reorganization services," said Sheila Smith, US Reorganization Services Group leader at Deloitte. Globally Deloitte now has more than 1,000 consultants providing restructuring services.

"Investing in our restructuring and financial advisory capabilities is one of our top priorities," said David Williams, CEO of Deloitte Financial Advisory Services. "Combining our collective resources and talent significantly enhances Deloitte's competitive profile in terms of size, scale and scope, giving us a leading edge in the marketplace."