Leading Restructuring, Transactions, Digital and Transformation Advisory Firm Enhances FTI Consulting’s Footprint in Continental Europe with Presence in the Netherlands
WASHINGTON, Dec. 14, 2021 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that it has entered into a definitive agreement to acquire BOLD, a leading restructuring, transactions, digital and transformation advisory firm in the Netherlands. The acquisition is expected to close during the first quarter of 2022. Terms of the transaction were not disclosed.
Founded in 2013 by Klaas Wagenaar and Gerrit van Munster, BOLD helps businesses become and stay relevant and successful in times of strategic change and mergers and acquisitions. The acquisition will extend FTI Consulting’s restructuring, business transformation, digital and transactions teams to the Dutch market and will provide BOLD’s existing clients with access to FTI Consulting’s diversified platform.
“We are delighted to welcome the BOLD team to FTI Consulting,” said Steven H. Gunby, President and Chief Executive Officer of FTI Consulting. “We are so pleased to attract a powerful team with a great reputation in the Netherlands, a geography where we have not historically had a substantial presence. Combining this group with the powerful global network that we have been investing in will, we believe, allow us to even better serve our clients with their most critical challenges and opportunities.”
Thirty-one billable professionals, including two senior managing directors and eight managing directors, will join the Corporate Finance & Restructuring segment at FTI Consulting. As a trusted partner to companies, boards of directors, investors, lenders and creditors around the world, the Corporate Finance & Restructuring segment helps clients address the full spectrum of restructuring, transformational, digital and transactional risks and opportunities across diverse industries and guides companies through the value-creation life cycle.
“The addition of BOLD continues our focus on growth in Europe, the Middle East and Africa,” said Diederick van der Plas, Head of EMEA Corporate Finance & Restructuring at FTI Consulting. “Like BOLD, we pride ourselves on working side-by-side with our clients to help them address complex strategic, operational and financial concerns. The combination of our teams will enable us to better serve Dutch companies with operations in international markets, as well as multinational organizations with interests in the Netherlands.”
Commenting on the transaction, Klaas Wagenaar said, “FTI Consulting is the ideal partner for us. This combination will allow us to harness the expertise and coverage of an international player that shares our entrepreneurial approach to provide a more hands-on service provider for clients in the Netherlands. We are proud of what we have built at BOLD, and we look forward to the next chapter of our journey with FTI Consulting.”
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 6,600 employees located in 29 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.46 billion in revenues during fiscal year 2020. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
About BOLD
BOLD supports organizations in times of crisis and change. BOLD professionals have the knowledge, expertise and experience to support and lead businesses by combining strategy with their hands-on “analyze, advise, execute” approach. BOLD’s four key offerings are Turnaround, Transformations, Transactions and Digital. In addition, BOLD provides clients with an “Interim” service utilizing a network of experts who can be brought into assignments on an as-needed basis.
Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expenses, expectations, plans, intentions or aspirations relating to acquisitions, dispositions, financing transactions, share repurchases and other matters, business trends, new or changes in laws and regulations, including U.S. and foreign tax laws, environmental, social and governance (ESG)-related issues, scientific and technological developments, and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as “will,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts,” “aspires” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, expectations regarding the acquisition and performance of BOLD, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and estimates will be achieved, or the acquisition of BOLD will be consummated and actual results may differ materially from our expectations, beliefs and estimates. Other factors that could cause such differences include the timing of the consummation and integration of BOLD and future acquisitions; the Company’s ability to realize cost savings and efficiencies, competitive and general economic conditions; retention of staff and clients; new laws and regulations or changes thereto; declines in demand for, or changes in the mix of services and products that we offer; the mix of the geographic locations where our clients are located or where services are performed; fluctuations in the price per share of our common stock; adverse financial, real estate or other market and general economic conditions; the impact of the COVID-19 pandemic and related events that are beyond our control, which could affect the acquisition and performance of BOLD and our segments, practices and the geographic regions in which we conduct business differently and adversely; and other future events, which could impact each of our segments, practices and the geographic regions in which we conduct business differently and could be outside of our control; and other risks described under the heading “Item 1A, Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, and Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.
FTI Consulting, Inc.
555 12th Street NW
Washington, DC 20004
+1.202.312.9100
Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com
Media Contact:
Matthew Bashalany
+1.617.897.1545
matthew.bashalany@fticonsulting.com
Source: FTI Consulting, Inc.
