FTI Consulting Completes Acquisition of BOLD

Rhea-AI Summary

FTI Consulting (NYSE: FCN) has finalized the acquisition of BOLD, a notable advisory firm in the Netherlands, enhancing its restructuring and digital advisory capabilities. Founded in 2013, BOLD specializes in guiding businesses through strategic changes. This acquisition integrates around 31 professionals from BOLD, including key managing directors, into FTI's Corporate Finance & Restructuring segment. The move aims to leverage BOLD's expertise alongside FTI's global resources, addressing significant operational and financial challenges for clients.

Positive

• Expansion into the Dutch market increases service offerings and client access.
• Integration of approximately 31 experienced professionals enhances FTI's advisory capabilities.
• Strategic alignment to address major operational and financial client challenges.

Negative

• None.

WASHINGTON, Feb. 02, 2022 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that it has completed its acquisition of BOLD, a leading restructuring, transactions, digital and transformation advisory firm in the Netherlands.

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 extends FTI Consulting’s restructuring, business transformation, digital and transactions teams to the Dutch market and provides BOLD’s existing clients with access to FTI Consulting’s diversified platform.

With the completion of the acquisition, approximately 31 billable professionals from BOLD, including two Senior Managing Directors and 10 Managing Directors, join FTI Consulting’s Corporate Finance & Restructuring segment, which is led in Europe, the Middle East and Africa by Diederick van der Plas.

Commenting on the completion of the acquisition, Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, said, “The addition of the BOLD team reflects our ongoing focus to invest in leading talent. It brings together two firms that are driven to help clients address their most significant strategic, operational and financial concerns and opportunities. We are so excited to officially welcome BOLD to FTI Consulting.”

Klaas Wagenaar, who joins FTI Consulting as a Senior Managing Director, added, “Working with FTI Consulting enables us to leverage the firm’s global platform and leading business transformation, transactions and turnaround offerings to help companies find a path to a healthy and successful future. We are proud of what we built together at BOLD and look forward to the next chapter of our journey.”

More information is available in the press release announcing the acquisition.

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 12^th 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

FAQ

What is the significance of FTI Consulting's acquisition of BOLD?

The acquisition enhances FTI's restructuring and digital advisory services in the Netherlands.

How many professionals from BOLD are joining FTI Consulting?

Approximately 31 professionals, including senior managing directors, are joining FTI.

When was the acquisition of BOLD by FTI Consulting completed?

The acquisition was completed on February 2, 2022.

What are the primary services offered by BOLD that will now be part of FTI Consulting?

BOLD specializes in turnaround, transformation, transactions, and digital advisory services.

What is FTI Consulting's aim with the acquisition of BOLD?

FTI aims to leverage BOLD's expertise to better address clients' operational and financial challenges.