Andersen expands valuation practice in Latin America

Andersen, the international network formed by former partners from Arthur Andersen, has extended its valuation practice in Latin America by signing up five collaborating firms in Argentina, Chile, Colombia and Mexico.

Last September, Andersen unveiled a global valuation practice, expanding its specialties beyond tax and legal services. The San Francisco-based firm said the valuation practice would eventually span over 20 countries across Europe, Latin America, Asia and North America. The five firms joining Andersen's platform Tuesday in Latin America include First Capital Group, based in Buenos Aires, Argentina; Valoriza, with offices in Santiago, Chile and Miami, which focuses on corporate valuations and M&A for the mid-market; Valuaciones de Chile, based in Santiago, Chile, which provides independent valuation services focused on real estate, assets, machinery and equipment; Confianza in Bogota, Colombia, which specializes in machinery and equipment appraisals; and Giron Valuation Services in Estado de México, which offers business valuations and financial advisory services.

The additions to the network are not yet being merged into Andersen, but they could be eventually. Andersen is structured as a "verein," or an association of firms. New firms on the network often start out as "collaborating" firms before becoming full members that can participate in profit-sharing and adopt the Andersen brand. 

Andersen global chairman and CEO Mark Vorsatz hopes to make the firm into one of the largest independent valuation firms in the world within the next few years.

"Valuation is a significant area of growth for Andersen, and you can expect to see us rapidly expand our global valuation practice in other key markets throughout Latin America and globally," he said in a statement Tuesday. 

Courtesy of Andersen