We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Navigant Divests DFLT and TAS Businesses to Ankura for $470M
Read MoreHide Full Article
Navigant Consulting, Inc. (NCI - Free Report) yesterday announced that it completed the sale of its Disputes, Forensics and Legal Technology (DFLT) segment and Transaction Advisory Services (TAS) practice to Ankura Consulting Group, LLC on Aug 24.
The deal was inked on Jun 23 and announced on Jun 25. It was valued at $470 million, 11.9 times of Navigant's adjusted EBITDA.
Ankura is a portfolio company owned by Chicago-based private equity firm, Madison Dearborn Partners (MDP) and is engaged in business advisory and expert services.
David Tortorello, former head of Navigant's DFLT segment and Darin Buchalter, former head of Navigant's global Construction practice and Disputes & Economics practice outside the United States, will join Ankura's board of directors and executive committee.
Sale Part of Navigant’s Transformation Efforts
The sale represents a strategic business move on Navigant’s part in transforming itself from an expert-based event driven organization to a more industry focused management consulting and managed services firm. This transformation is aimed at achieving higher growth, more streamlined operations and significant capital flexibility.
Navigant expects to receive nearly $370 million of net cash proceeds from the sale (assuming payout of taxes, transaction and separation-related costs), which it plans to utilize in rewarding its shareholders through share repurchases and dividend payments and invest in strategic mergers and acquisitions and organic growth opportunities.
So far this year, shares of Navigant have gained 21.8%, significantly outperforming the 11.9% rise of the industry it belongs to.
Some better-ranked stocks in the broader Business Services sector include CRA International (CRAI - Free Report) , FTI Consulting (FCN - Free Report) and NV5 Global (NVEE - Free Report) . While CRA International and FTI Consulting sport a Zacks Rank #1, NV5 Global carries a Zacks Rank #2 (Buy).
CRA International, FTI Consulting and NV5 Global has an impressive surprise history with a positive earnings surprise of 38.6%, 58.3% and 12.7%, respectively.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Navigant Divests DFLT and TAS Businesses to Ankura for $470M
Navigant Consulting, Inc. (NCI - Free Report) yesterday announced that it completed the sale of its Disputes, Forensics and Legal Technology (DFLT) segment and Transaction Advisory Services (TAS) practice to Ankura Consulting Group, LLC on Aug 24.
The deal was inked on Jun 23 and announced on Jun 25. It was valued at $470 million, 11.9 times of Navigant's adjusted EBITDA.
Ankura is a portfolio company owned by Chicago-based private equity firm, Madison Dearborn Partners (MDP) and is engaged in business advisory and expert services.
David Tortorello, former head of Navigant's DFLT segment and Darin Buchalter, former head of Navigant's global Construction practice and Disputes & Economics practice outside the United States, will join Ankura's board of directors and executive committee.
Sale Part of Navigant’s Transformation Efforts
The sale represents a strategic business move on Navigant’s part in transforming itself from an expert-based event driven organization to a more industry focused management consulting and managed services firm. This transformation is aimed at achieving higher growth, more streamlined operations and significant capital flexibility.
Navigant expects to receive nearly $370 million of net cash proceeds from the sale (assuming payout of taxes, transaction and separation-related costs), which it plans to utilize in rewarding its shareholders through share repurchases and dividend payments and invest in strategic mergers and acquisitions and organic growth opportunities.
So far this year, shares of Navigant have gained 21.8%, significantly outperforming the 11.9% rise of the industry it belongs to.
Zacks Rank & Stocks to Consider
Currently, Navigant is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Business Services sector include CRA International (CRAI - Free Report) , FTI Consulting (FCN - Free Report) and NV5 Global (NVEE - Free Report) . While CRA International and FTI Consulting sport a Zacks Rank #1, NV5 Global carries a Zacks Rank #2 (Buy).
CRA International, FTI Consulting and NV5 Global has an impressive surprise history with a positive earnings surprise of 38.6%, 58.3% and 12.7%, respectively.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>