FTI Consulting to Acquire Accordion Assets
Ticker: FCN · Form: 8-K · Filed: Oct 28, 2024 · CIK: 887936
Sentiment: bullish
Topics: acquisition, data-analytics, consulting
Related Tickers: FTI
TL;DR
FTI Consulting is buying Accordion's assets to boost its data analytics game for PE firms.
AI Summary
FTI Consulting, Inc. announced on October 24, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of Accordion, a private equity-focused data analytics and financial consulting firm. The transaction is expected to close in the fourth quarter of 2024 and will be funded through existing cash and a new revolving credit facility. This acquisition is anticipated to enhance FTI Consulting's data analytics capabilities and expand its offerings to private equity clients.
Why It Matters
This acquisition will significantly bolster FTI Consulting's data analytics and financial consulting services, particularly for its private equity client base, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — The acquisition carries integration risks, potential challenges in realizing expected synergies, and depends on the successful closing of the transaction in Q4 2024.
Key Players & Entities
- FTI Consulting, Inc. (company) — Registrant
- Accordion (company) — Target of acquisition
- October 24, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this 8-K filing?
This 8-K filing announces FTI Consulting, Inc.'s entry into a definitive agreement to acquire substantially all of the assets of Accordion.
When is the acquisition of Accordion's assets expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
How will FTI Consulting fund this acquisition?
The transaction will be funded through existing cash and a new revolving credit facility.
What type of company is Accordion?
Accordion is described as a private equity-focused data analytics and financial consulting firm.
What is the expected impact of this acquisition on FTI Consulting?
The acquisition is anticipated to enhance FTI Consulting's data analytics capabilities and expand its offerings to private equity clients.
Filing Stats: 1,356 words · 5 min read · ~5 pages · Grade level 14.4 · Accepted 2024-10-28 16:45:52
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share FCN New York Stock Exchan
Filing Documents
- d840929d8k.htm (8-K) — 37KB
- d840929dex991.htm (EX-99.1) — 70KB
- 0001193125-24-245607.txt ( ) — 249KB
- fcn-20241024.xsd (EX-101.SCH) — 3KB
- fcn-20241024_lab.xml (EX-101.LAB) — 17KB
- fcn-20241024_pre.xml (EX-101.PRE) — 11KB
- d840929d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits 99.1 Transcript dated October 24, 2024 of FTI Consulting, Inc. 104 The Cover Page from FTI Consulting's Current Report on Form 8-K dated October 24, 2024, formatted in Inline XBRL. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, FTI Consulting, Inc. has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. FTI CONSULTING, INC. Dated: October 28, 2024 By: /s/ C URTIS P. L U Name: Curtis P. Lu Title: General Counsel 3