Ankura Consulting Group, the Washington business-advisory firm, acquired Marotta Gund Budd & Dzera, the New York turnaround and restructuring firm. Terms weren’t disclosed. MGBD advises investors, directors and senior management as well as creditors of underperforming companies, Ankura said in a statement. MGBD expands Ankura’s practice in turnarounds and restructuring, the firm said.
Ankura Consulting Group Acquires Marotta Gund Budd & Dzera, LLC
Transaction enhances turnaround and restructuring expertise
April 11, 2016, Washington, DC – Ankura Consulting Group (“Ankura”), a business advisory and expert services firm, announced today that it has acquired Marotta Gund Budd & Dzera, LLC (“MGBD”), a nationally recognized turnaround and restructuring firm.
MGBD is led by its two principals and founders, Stephen Marotta and Philip Gund, who have over 50 years of combined experience advising investors, boards of directors, senior management as well as the creditor constituencies of underperforming companies. MGBD’s professionals have also served in crisis management roles domestically and abroad including CEO, CRO, and CFO.
The acquisition of MGBD comes on the heels of Ankura’s recent announcement of a commitment of $100 million from Madison Dearborn Partners.
“Steve and Phil are great leaders and excellent cultural fits for us,” said Kevin Lavin, Co-President of Ankura. “MGBD brings a wealth of experience in leading, developing strategies and then coalescing disparate stakeholders through complex stressed and distressed situations. Their addition is another step in building out our Turnaround and Restructuring practice.”
“Ankura is rapidly assembling top-level talent and capabilities to become the preferred business advisory firm,” said Stephen Marotta, principal of MGBD, “We are excited to join Ankura’s team and look forward to building a dynamic practice together.”
Philip Gund, principal of MGBD, added “Ankura’s collaborative culture and focus on quality of service provides us with a platform to lead some of the more challenging restructurings.”
With the MGBD acquisition, Ankura now has over 100 professionals with offices in Atlanta, Dallas, New Jersey, New York, Los Angeles and Washington D.C. Ankura’s New York office will now be located at 747 3rd Avenue.