Acquisition Enhances Grant Thornton’s Recovery & Reorganization Practice
Grant Thornton LLP has acquired the Restructuring and Performance Improvement (RPI) Group of Stout Risius Ross, Inc. (SRR). The acquisition complements existing global automotive expertise of Grant Thornton International (GTI) member firms and enhances the U.S. Recovery and Reorganization Services practice of Grant Thornton LLP, the U.S. member firm of GTI.
“This acquisition adds yet another high-quality, value-added service to our suite of services,” said Paul Wolber, Detroit (Mich.) Office Managing Partner, in a prepared statement announcing the acquisition. “Especially in Detroit, we have the advantage of understanding the dynamic issues confronting businesses in our current economy. We intend to add resources to this group in order to help local and global organizations address these challenges.”
The RPI Group is made up of three partners and 27 staff members based in Detroit and Chicago, Ill. The group boasts a number of high profile clients including Tier 1 automotive suppliers and OEMs, such as the Ford Motor Company. The group is led by Kimberly Rodriguez, one of the most respected supply chain management and restructuring experts in the automotive field, with 20 years of experience providing financial and operational advice to a variety of stakeholders faced with distressed situations.
Rodriguez will become a principal of Grant Thornton LLP and jointly lead the new global automotive team with Nigel Ruddock, a partner in Grant Thornton UK LLP’s Recovery and Reorganization team. Ruddock is also a leading expert within the automotive sector. Grant Thornton LLP has a world-class Recovery and Reorganization Services practice in the U.S. that supplements the practice of GTI member firms in 49 other countries.
“With the addition of Kimberly and her group, Grant Thornton LLP’s practice now boasts nine partners and over 50 professionals in six cities, bringing the total to well over 500 professionals across Grant Thornton member firms globally,” explained Marti Kopacz, one of the leaders of the U.S. practice. “The RPI Group shares our passion for superior client service and will help the Grant Thornton member firms become an undisputed leader in automotive industry restructurings throughout the world.”
“Around the world, Grant Thornton member firms are leading advisers in the automotive sector, with expertise in complex and multi-jurisdictional restructurings and operational reviews in all areas of the automotive supply chain and distribution network,” adds Ruddock. “This acquisition complements the existing expertise that Grant Thornton member firms already offer worldwide and takes it to a completely new level. Grant Thornton member firms are now in a unique position, with tremendous – and I’d go as far to say unparalleled – strength and depth across the globe.”