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Duff & Phelps acquires American Appraisal Associates

INSOLVENCY SPECIALIST Duff & Phelps has acquired American Appraisal Associates, a global full-service valuation and fixed asset management adviser, in a deal that makes the largest provider of valuations expertise in the world.

The transaction adds professionals in more than 50 offices globally and significantly expands Duff & Phelps’ geographic footprint in Europe and Asia. The acquisition increases the firm’s global headcount by 900 with 400 to be based in Europe.

Also included in the transaction, which is expected to increase annual revenue by 20%, is American Appraisal’s Real Estate Advisory Group, a leading real estate adviser with principal operations in Europe.

“We are bringing together firms that, collectively, possess more than two centuries of experience providing superior client service and insight to boards of directors, senior management teams and finance professionals around the world,” said Noah Gottdiener, Duff & Phelps’ chief executive officer.

Financial terms of the transaction, which is expected to close during the first quarter of 2015, were not disclosed.

In April 2013, the firm was acquired by a consortium, which included The Carlyle Group, Stone Point Capital & Cie. The deal, estimated to be worth around $665.4m (£429.8m), resulted in the firm de-listing from the New York Stock Exchange.

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