Stout acquires Financial Research Associates

Stout, a Chicago-headquartered investment bank and advisory firm, on July 1 completed its acquisition of Financial Research Associates (FRA), a Bala Cynwyd, PA-based financial consulting firm.

Founded in 1981, FRA provides services in business valuation, forensic accounting, and litigation support. The firm has a team of over 30 employees across offices in Bala Cynwyd, PA; Edison, NJ; and New York City.

The FRA team will join Stout’s valuation advisory group, bolstering its capabilities in business valuation, litigation, and family law valuation.

“This acquisition marks a significant milestone for Stout as we continue to expand our capabilities in Business Valuation and Litigation Support," said Greg O'Hara, president of the valuation advisory group at Stout. "FRA's deep expertise and strong market presence in the tri-state area including Pennsylvania, New Jersey, and New York complement Stout's existing strengths, enhancing our ability to deliver exceptional service and solutions to our clients."

The FRA deal is Stout’s eighth acquisition since it received an investment from Audax Private Equity in November 2021. The bolt-ons include Chicago-based financial and economic advisory firms The Claro Group and Davis & Hosfield Consulting.

"We are excited to join Stout and leverage its extensive resources and global reach," said Jay Fishman, founder and managing director at FRA. "This union will allow us to offer our clients enhanced capabilities, deeper industry insights, and access to a broader range of advisory services."

Stout was founded in 1991 and provides services in corporate finance, accounting and transaction advisory, valuation, financial disputes, claims, and investigations. The firm has over 1,200 employees listed on LinkedIn and 26 offices across the US, Europe, and Asia.