BDO USA acquires Loughlin Management Partners + Co

02 August 2019 3 min. read
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Accounting and consulting firm BDO USA has acquired Loughlin Management Partners & Co (LM+Co), a boutique advisory firm focused on turnaround and restructuring.

Founded in 2002 and based in New York, LM+Co delivers advisory services in turnaround and restructuring, interim management, and operational value creation for private equity firms.

The firm has served in an advisory and interim management capacity in more than 200 restructuring situations, and has completed more than 600 engagements across most industry sectors. LM+Co was named the 2019 Boutique Consulting Firm of the Year by the Global M&A Network for the Turnaround Atlas Awards.

The firm has now been acquired by BDO USA, effective August 1, 2019. The deal expands BDO’s capabilities in “event-driven” business advisory services. The leading mid-market-focused accounting and consulting firm offers corporate and deal advisory services across M&A, restructuring and turnaround, operational consulting and business improvement, valuation advisory, and investment banking.

BDO USA acquires Loughlin Management Partners + Co

As part of the transaction, LM+Co will operate as BDO Consulting Group LLC, a separate legal entity and affiliated company of BDO USA, providing restructuring and turnaround services in the US.

LM+Co affiliate LM+Co Capital – a boutique investment banking and financial advisory firm specializing in the mid-market – will also join BDO USA as part of the transaction.

“BDO is pleased to be joining forces with LM+Co to bolster the resources and national presence of our corporate restructuring and operational advisory solutions, which will greatly benefit our clients,” Jay Duke, national managing partner of advisory services at BDO USA, said.

The deal will see LM+Co principal and managing director James J. Loughlin, Jr. join BDO as managing director, with responsibility for leading the firm’s business restructuring and operational value creation practices. The majority of the LM+Co team will relocate to BDO’s New York City office, with the remaining team members joining other BDO offices across the country.

“We value the quality of service and extensive knowledge of middle market private equity and restructuring that Jim and his dedicated team of professionals deliver to the marketplace,” Duke added. “Our two firms’ commitment to excellence align well and will help to ensure a successful, bright future together.”

Loughlin commented, “Bringing our firms together will strengthen our combined offering as a value-added service provider across the entire corporate lifecycle and mergers and acquisition continuum. With the national and international resources of BDO behind us, our ability to provide clients with effective, tailored solutions to complex situations is significantly enhanced. I couldn’t be more excited about the future.”

BDO USA has seen significant growth in the past number of years, expanding revenue from $618 million in 2012 to $1.47 billion in 2018 and entering 24 new US cities. Earlier this year, the firm acquired crisis management consultancy Lootok, customs and trade consultancy Global Trade Strategies, and management consultancy AC Lordi.