Stout acquires The Claro Group

20 October 2022 1 min. read
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Stout, a global investment bank and advisory firm, has acquired The Claro Group, a Chicago-based financial and economic advisory firm. The deal closed on October 1.

Founded in 2005, Claro provides consulting in corporate finance and restructuring, fraud and investigations, and claims and disputes. The firm has offices in Chicago, Houston, Los Angeles, and Washington, DC.

Stout’s acquisition of Claro will add 92 professionals, including 21 managing directors. Claro’s chairman John Cadarette will join Stout as co-president of the disputes, claims, and investigations group.

The transaction will bring Stout new capabilities in restructuring, economic consulting, and resolving complex liability insurance claims.

Stout acquires The Claro Group

"Stout and Claro have natural synergies in the areas of expert testimony and consulting in financial disputes and investigations, and the transaction will further deepen our expertise across the country," said Mike Petron, co-president of the disputes, claims, and investigations group at Stout. "Claro will bolster Stout's client service offerings in Insurance Claims, with over 40 professionals focused on managing complex claims solutions. We are thrilled to welcome the Claro team to the firm."

The deal is Stout’s fourth since Audax Private Equity invested in the company in November 2021. Stout earlier this year acquired Davis & Hosfield Consulting, a Chicago-based financial and economic consulting firm.

"Joining Stout is Claro's next step to offering an even more robust suite of services and creative solutions to our clients," said Cadarette. "We are very excited to be a part of the Stout team and look forward to being a part of its continued growth."

Stout was founded in 1991 and is headquartered in Chicago. The firm provides services in investment banking, transaction advisory, valuation advisory, and disputes, compliance, and investigations. Stout has more than 800 employees across locations in the US, UK, Germany, Switzerland, Italy, Singapore, and China.