Duff & Phelps, LLC, an independent financial advisory and investment banking firm, announced today that it has completed its merger with Corporate Value Consulting (CVC), a business unit of Standard & Poor’s, which is a division of The McGraw-Hill Companies, Inc. (NYSE: MHP). The combination creates a leading independent financial advisory firm with over 600 employees serving clients globally through offices in 15 cities in the United States and Europe. The new firm will operate under the Duff & Phelps name.
The combined firm provides a full range of financial advisory and consulting services to a wide range of clients, including many Fortune 1000 companies. Services include financial reporting and tax valuation, fixed asset and real estate consulting, M&A advisory, fairness and solvency opinions, ESOP and ERISA advisory services, legal business solutions and dispute consulting.
Noah Gottdiener, who continues as CEO of Duff & Phelps, said, "I am confident this combination establishes a new strategic paradigm for the industry and positions Duff & Phelps to become the world's leading valuation and financial advisory services firm."
Gerry Creagh, formerly executive managing director of CVC, and Chet Gougis, formerly president of Duff & Phelps, become co-presidents of the combined firm.
Financial backing for the transaction was provided by Lovell Minnick Partners and Vestar Capital Partners. GE Capital will provide debt financing.
About Duff & Phelps, LLC
Duff & Phelps, a leading independent financial advisory firm, offers a broad range of consulting and investment banking services, including financial reporting and tax valuation, fixed asset and real estate consulting, M&A advisory, fairness and solvency opinions, ESOP and ERISA advisory services, legal business solutions and dispute consulting. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality, integrity and objectivity to a broad range of public and private companies. For more information, visit www.duffandphelps.com.
Media Contacts:
Lawrence Budgar
Burson-Marsteller
Tel: 212-614-4140
[email protected]
Sherri Saltzman
Corporate Value Consulting
Tel: 973-264-2329
[email protected]
