Management consulting firm Navigant Consulting Inc. will acquire Canadian forensic accounting practice Kroll Lindquist Avey for $20 million.
Kroll Lindquist Avey was a unit of Kroll Inc., the risk consulting subsidiary of Marsh & McLennan Companies Inc.
"This investment greatly enhances Navigant Consulting's international litigation and investigations presence," said managing director of Navigant's litigation and investigations practice Timothy Hart, in a statement. "The team joining Navigant has been the premier provider of forensic accounting, litigation and valuation services in Canada for 30 years, with senior leaders that are seasoned as testifiers and as leads in prominent public investigations."
The team joining Navigant Consulting consists of 54 billable consultants based in Toronto and Ottawa. Primary services offered by the team include forensic accounting, fraud investigations, general litigation consulting, business intelligence and business valuation services.
Revenue and pro forma operating income in 2004 for Kroll Lindquist Avey were approximately $17 million and $3.7 million, respectively. Additional transaction details were not disclosed.
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