FTI Consulting, Inc. ( FCN Quick Quote FCN - Free Report) recently announced that it has inked a deal to purchase a construction consulting firm, The Rhodes Group. Subject to customary closing conditions, the deal is expected to close during the second quarter of 2021. Financial terms of the deal have been kept under wraps.
The Rhodes Group provides construction advisory, forensic accounting and expert testimony services to clients, starting from preconstruction through formal dispute resolution. The company was founded in 1999 and has offices in Pittsburgh, PA and Houston, TX.
So far this year, shares of FTI Consulting have gained 25.5% compared with 8.2% rise of the
industry it belongs to. How Will FTI Consulting Benefit?
The deal closure will see the addition of The Rhodes Group’s team of almost 40 billable professionals into the Construction & Environmental Solutions practice within FTI Consulting’s Forensic and Litigation Consulting segment.
The Rhodes Group’s team includes one senior managing director, three managing directors and Andrew Rhodes, the founder and president of the company.
Mr. Rhodes will be joining FTI Consulting as a senior managing director. He has consulted on multiple projects and has been testified as an expert on 70 occasions in various courts, before the American Arbitration Association and ICC Arbitration panels, and in the Board of Claims hearings. Earlier, he served as a mediator and as an expert consultant to a dispute resolution board. His experience includes petrochemical facilities, liquefied natural gas facilities, power generation facilities, complex industrial and mining facilities, highway infrastructure projects, mass transit rail projects, professional sports stadiums, university buildings, hospitals and commercial high-rise buildings.
Considering the work expertise achieved by Mr. Rhodes and his team, the latest acquisition is expected to strengthen FTI Consulting’s construction advisory, dispute resolution and expert testimony capabilities in North America and provide The Rhodes Group’s existing clients with access to FTI Consulting’s global, diversified platform.
Notably, Steven H. Gunby, president and chief executive officer at FTI Consulting, stated, “We are delighted to welcome these outstanding professionals to FTI Consulting.”
Paul Ficca, global segment leader of the Forensic and Litigation Consulting segment at FTI Consulting, added, “Andrew and his team have an established track record of guiding clients through large, complex projects and providing high-value expert services. We have known Andrew for several years, and the depth of talent and services that he and his team bring will complement the global offerings of FTI Consulting’s Construction & Environmental Solutions practice. We look forward to working with our new colleagues to help our clients achieve the best possible outcomes.”
Zacks Rank and Stocks to Consider
FTI Consulting currently carries a Zacks Rank #3 (Hold). You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Some better-ranked stocks in the broader Zacks
Business Servicessector are Omnicom ( OMC Quick Quote OMC - Free Report) , Charles River Associates ( CRAI Quick Quote CRAI - Free Report) and Gartner ( IT Quick Quote IT - Free Report) , each carrying a Zacks Rank #2 (Buy).
The long-term expected earnings per share (three to five years) growth rate for Omnicom, Charles River Associates and Gartner is 4.7%, 13% and 13.5%, respectively.
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