FTI Consulting, Inc. Announces Agreement in Principle to Acquire FS Asia Advisory Limited, a Premier Financial Advisory Specialist Firm in Asia
- Formerly Operated as Ferrier Hodgson Hong Kong Group- Acquisition Increases FTI's Asian Presence in Hong Kong, China and the Philippines- Extends Corporate Finance, Restructuring and Transaction Advisory Service Offerings in Asia
HONG KONG and WEST PALM BEACH, Fla., Aug 04, 2010 /PRNewswire via COMTEX/ --
FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced that it has reached agreement in principle to acquire FS Asia Advisory Limited (formerly Ferrier Hodgson Hong Kong Group). This acquisition is intended to significantly expand FTI's presence and breadth of capabilities in Asia.
The acquisition is subject to completion of definitive documentation and customary closing conditions and is expected to close in August.
Founded in 1985 and with operations in Hong Kong, Shanghai, Singapore and Manila, FS Asia Advisory ("FS") is a leading provider of corporate finance, restructuring and turnaround, corporate advisory and corporate recovery services in Asia. In 2009, FS generated total revenues of approximately $35 million and will add approximately 130 professionals to FTI in Asia. FS will operate as FTI Consulting.
Commenting on the acquisition, Jack Dunn, FTI's President and CEO, said, "This acquisition is further progress in our strategy to deploy our full range of services in all major global markets and is a major step for us in Asia, a key region of interest for us and our clients. The acquisition augments our existing corporate finance, transaction advisory, restructuring, investigations and strategic communications practices in Asia, and gives us critical mass in one of the most dynamic regions in the world."
Mr. Dunn continued, "FS is the premier restructuring specialist firm in the region with a long operating history, solid growth prospects and strong profitability. The FS team has a roster of world-class clients, many of whom we already serve in other regions, and is renowned for its professionalism and hands on approach to tackling complex business problems. I have every confidence that this exceptional group of professionals will enhance our capabilities to advise our clients as they extend their business interests into this exciting and complex market."
Rod Sutton, the practice leader of FS Asia Advisory, said, "We are all very excited by the opportunity to join FTI and its outstanding team of professionals, particularly the existing Hong Kong practices. We look forward to working closely with Steve Vickers, Rob Morris and the other excellent client service personnel and believe the combination will allow us to better serve clients throughout the region. This combination will extend our network to the US and the European markets and will augment our capability to offer a number of services to our clients, such as transaction advisory, valuation, FCPA and other ancillary advisory services that are in demand in the market. Based on an established presence in the region of over 25 years, our Asian-based team has built up a strong client and referral network and an outstanding reputation. This opportunity will allow us to offer our existing and new clients the combined strength of FTI's worldwide resources and our depth of experience and industry knowledge in Asia."
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With approximately 3,400 employees located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring. More information can be found at www.fticonsulting.com.
SOURCE FTI Consulting, Inc.