Navigant Consulting, Inc. Acquires Precept Programme Management Limited
CHICAGO, Mar 24, 2006 (BUSINESS WIRE) -- Navigant Consulting, Inc. (NYSE:NCI), an international consulting firm providing dispute, investigative, operational, risk management and financial advisory solutions to legal counsel, government agencies and companies experiencing regulatory or structural change, announced today that it has acquired Precept Programme Management. Precept is the United Kingdom's leading independent dispute advisory and program management consulting firm, with a particular expertise in the construction industry.
"This investment represents an important step forward in Navigant Consulting's international growth initiative," stated Julie M. Howard, President and Chief Operating Officer of Navigant Consulting. "London is the central market for the resolution of international dispute, litigation and arbitration matters. The Precept team further enhances our global construction practice and strengthens our UK platform to more than 100 dispute, investigative, electronic discovery and business advisory professionals."
"Since early 2005, with the addition of Don Harvey, Navigant Consulting has been focused on increasing our international dispute and business advisory presence," stated David Tortorello, Navigant Consulting's Global Construction Practice Leader. "The Precept team adds significant depth in the London market. Their dispute advisory, construction program management and business advisory expertise expands our practice to more than 250 professionals, including a presence in London and Hong Kong. This acquisition further positions us as the leader in large international infrastructure dispute matters worldwide."
Led by Brian Norton, David Barry and Paul Barry, Precept provides clients a range of consulting services, including dispute advisory, investment strategy decision support and program and project management, particularly in the construction sector. The Precept team assists leading UK law firms and public and private sector clients to address their dispute and program management challenges in the UK, as well as across multiple European, Middle Eastern, African and Asian markets.
"We are extremely excited to be joining the Navigant Consulting team," stated Brian Norton, Co-Founder and Executive Director of Precept. "Navigant Consulting has a strong and growing reputation in the international dispute and construction management market, and offers business advisory expertise which is complementary to our services. We are looking forward to the increased opportunities this combination creates for both organizations. Combining our program management expertise with Navigant's strong international footprint allows us to meet our clients' increasing international needs."
The acquisition includes a team of 46 billable consultants. The purchase price was approximately $50 million. Revenues for the last 12 months approximated $18.5 million. Additional transaction details were not disclosed.
About Navigant Consulting
Navigant Consulting, Inc. (NYSE:NCI) is an international consulting firm combining deep industry expertise and integrated solutions to assist companies and their legal counsel in enhancing stakeholder value, improving operations, and addressing the challenges of uncertainty, risk and significant business model change. Professional services include dispute, investigative, operational and business advisory, risk management and regulatory advisory, and transaction advisory solutions. The Company focuses on industries undergoing substantial regulatory or structural change, including financial services, insurance, healthcare and energy. Navigant Consulting has offices in over 40 cities in North America, Europe and Asia.
"Navigant" is a service mark of Navigant International, Inc. Navigant Consulting, Inc. (NCI) is not affiliated, associated, or in any way connected with Navigant International, Inc. and NCI's use of "Navigant" is made under license from Navigant International, Inc. More information about Navigant Consulting can be found at www.navigantconsulting.com.
Except as set forth below, statements included in this press release, which are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements" as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, income and margins, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to several important factors, including those identified from time to time in the Company's reports filed with the SEC. Such risk factors include, but are not limited to: acquisitions and acquisitions under consideration, follow-on offerings, revenues and financial estimates, significant client assignments, recruiting, attrition and new business solicitation efforts, judicial proceedings, regulatory changes and general economic conditions.
SOURCE: Navigant Consulting, Inc.
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