Stretto, which is backed by Stone Point Capital, has acquired Acumen Recovery Services, a data-analysis and advisory firm serving attorneys, trustees, and other fiduciaries analyzing, pursuing or defending preferences or other allegedly avoidable transfers in bankruptcy cases. No financial terms were disclosed.
IRVINE, Calif., February 17, 2021 – Stretto, a market-leading bankruptcy administration firm serving the corporate- and consumer-bankruptcy industries, has acquired Acumen Recovery Services, LLC, a data-analysis and advisory firm serving attorneys, trustees, and other fiduciaries analyzing, pursuing or defending preferences or other allegedly avoidable transfers in bankruptcy cases. This acquisition expands Stretto’s suite of services designed to support professionals and other stakeholders in streamlining the bankruptcy process.
“In expanding our preference-analysis capabilities and expertise, Stretto takes another important step forward as the leading technology and client-service platform that sits at the center of the bankruptcy ecosystem,” comments Jonathan Carson, co-CEO at Stretto. “We welcome the experts at Acumen to the Stretto team, and we look forward to forging new pathways together to better serve bankruptcy professionals nationwide.”
Founded in 2014 by former corporate-restructuring attorneys, Michael Cohen and Dan McElhinney, Acumen assists clients in understanding the value of their preference-action portfolio and in maximizing recoveries. The firm created a proprietary, client-accessible database and analysis software application to simplify data and document management, due-diligence and discovery processing. Through this platform, Acumen provides streamlined analysis and litigation-management services, making it easier for clients to monetize important bankruptcy-estate assets.
Acumen’s CEO, Michael Cohen, and President/COO, Dan McElhinney, both join Stretto as managing directors. Together, Michael and Dan have over 40 years of combined subject-matter expertise in the corporate-restructuring industry working with law firms, financial and corporate advisors, and other turnaround professionals.
“We share Stretto’s vision to ease administrative burdens of the bankruptcy process with innovative technology and services,” Cohen comments. “We’re excited to join the robust team of bankruptcy experts at Stretto who have created the industry’s most comprehensive portfolio of bankruptcy technology and administrative solutions.”
Stretto delivers a full spectrum of bankruptcy-administrative solutions and technology tools to fiduciaries. By merging the industry’s leading bankruptcy software and services providers for chapter 7 trustees and debtors’ attorneys, and developing new corporate-restructuring administration capabilities, Stretto provides an unparalleled portfolio of bankruptcy-related services under the executive leadership of industry veterans Eric Kurtzman and Jonathan Carson. Sitting at the center of the bankruptcy ecosystem, Stretto leverages deep-industry expertise and market insights to facilitate every aspect of case management for its corporate-restructuring and consumer-bankruptcy clients. “Stretto” is a musical term indicating when one voice picks up where another leaves off, and, as our name implies, Stretto seamlessly integrates streamlined workflows and best-in-class technology to orchestrate the administrative process and create harmony for professionals and their teams. For more information about Stretto, visit www.stretto.com.