KPMG LLP has acquired a majority of assets of the restructuring advisory firm BBK.

As part of the transaction, BBK chief executive officer Bill Diehl will join KPMG as co-leader of the firm’s operational restructuring practice.

The transaction will expand KPMG’s integrated transactions and restructuring services to help manufacturers and their suppliers in the automotive and industrial sectors address financial and operational challenges.

“The manufacturing sector is transforming,” Dan Tiemann, U.S. Transactions & Restructuring Service Group Leader at KPMG, said in a statement. “Companies are focused on fostering innovation to enhance their business model or product portfolio. We’re seeing an emphasis on integrating global supply chains, adopting cutting-edge technologies, and a renewed commitment on research and development.”

Founded in 1977 with headquarters in Southfield, Mich., and professionals in California and Tennessee, BBK helps clients implement strategic, process-driven approaches to solve complex financial and operational challenges.

“This deal enhances KPMG’s capacity to help clients navigate financial and operational challenges that continue to grow in scope, urgency and complexity,” Lynne Doughtie, vice chair for advisory at KPMG, said in a statement. “Expanding KPMG’s financial and operational services will help our clients inspire greater confidence among their stakeholders, improve overall performance, and mitigate risks. Those goals are at the heart of the value we provide and are very much aligned with the attributes BBK will bring to our firm.”

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