John Ferro to Lead Extension of Financial Consulting Practice
ANNAPOLIS, Md., Aug. 5 /PRNewswire-FirstCall/ -- FTI Consulting, Inc.
(NYSE: FCN), the premier national provider of strategic and litigation-related
consulting services, today announced that mergers and acquisitions specialist
John J. Ferro has joined FTI as a managing director to develop its national
merger and acquisition practice. Also joining John at FTI are Gary J. Heller,
director, and Jason R. Scott, associate. John and his team, based in New
York, will advise clients in developing and implementing strategic
acquisitions and divestiture strategies, provide fairness opinions and
valuations for transactions, and serve as an expert witness where extensive
M&A experience is required.
FTI will form a new subsidiary, FTI Merger & Acquisition Advisors LLC,
that will work with distressed and healthy companies, with a focus on business
services, consumer and industrial products, technology, media and
communications. John and his team will advise corporations and privately
owned companies on divestitures and work with acquirors to identify targets,
and advise on structuring transactions. The group has extensive valuation
expertise and will provide fairness opinions for mergers, acquisitions,
restructurings, leveraged buyouts and going-private transactions.
"M&A is a logical extension of our Financial Consulting practice and fits
our strategy of providing our clients with top-caliber professional services
from a single source," commented Jack Dunn, FTI's chairman and chief executive
officer. "We expect FTI Merger & Acquisition Advisors to leverage off of our
leading position in turnaround, bankruptcy and restructuring consulting,
particularly in view of our recently announced acquisition of the U.S.
Business Recovery Division of PricewaterhouseCoopers."
John and his team have more than two decades of transaction-related
experience in the consumer and industrial products, business services, media
and advertising, telecommunications and technology industries. The group has
acted as advisors on over 100 successful transactions for large public
corporations, privately held and family controlled entities, and distressed
entities. John joined FTI after spending 18 years at Arthur Andersen, most
recently as a partner and the managing director in charge of Andersen
Corporate Finance's U.S. technology, media and communications (TMC) group,
which he started.
Commenting on the decision to join FTI, John stated, "This is a phenomenal
opportunity to take advantage of the dynamics in the market. If economic
recovery is imminent, healthy companies will look to expand by acquiring
businesses. Sellers have been waiting for buyers to return and a significant
backlog of potential sellers has developed. Conversely, a continuing
recession provides the opportunity to advise distressed companies that must
raise cash by selling non-strategic and non-core assets. I am looking forward
to leveraging FTI's current client base and attracting new clients to grow
this practice nationally."
"John and his colleagues are experts in all aspects of mergers,
acquisitions and divestitures, from developing and executing strategies to
finding buyers and sellers and closing transactions. They bring a new
practice to FTI, and fill a need for many of our clients," said Stewart Kahn,
president and chief operating officer of FTI. "John has previously worked
with many of the key experts in our financial restructuring practice and these
existing relationships will further enhance our ability to cross market our
services. We are very pleased that John and his colleagues have joined us and
we welcome them to the FTI team."
About FTI Consulting
FTI Consulting is a multi-disciplined consulting firm with leading
practices in the areas of bankruptcy and financial restructuring, litigation
consulting and engineering/scientific investigation. Modern corporations, as
well as those who advise and invest in them, face growing challenges on every
front. From a proliferation of "bet-the-company" litigation to increasingly
complicated relationships with lenders and investors in an ever-changing
global economy, U.S. companies are turning more and more to outside experts
and consultants to meet these complex issues. FTI is dedicated to helping
corporations, their advisors, lawyers, lenders and investors meet these
challenges by providing a broad array of the highest quality professional
practices from a single source.
This press release includes "forward-looking" statements that involve
uncertainties and risks. There can be no assurance that actual results will
not differ from the company's expectations. The company has experienced
fluctuating revenues, operating income and cash flow in some prior periods and
expects this may occur from time to time in the future. As a result of these
possible fluctuations, the company's actual results may differ from our
projections. Other factors that could cause such differences include pace and
timing of additional acquisitions, the company's ability to realize cost
savings and efficiencies, competitive and general economic conditions, and
other risks described in the company's filings with the Securities and
Exchange Commission.
FTI is on the Internet at http://www.fticonsulting.com .
SOURCE FTI Consulting, Inc.
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Related links:
http://www.fticonsulting.com
CONTACT:
Jack Dunn, Chairman & CEO of FTI Consulting,
+1-410-224-1483, or General, Marilyn Windsor, +1-702-515-1260,
Analysts, Lisa Fortuna, +1-312-640-6779, or Media, Tim Grace,
+1-312-640-6667, all of FRB Weber Shandwick
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