A publicly traded financial services company sold a majority stake in one of its business units to a private equity firm. The private equity firm split that business unit into two separate legal entities. Following the transaction, both business units came to Frank and his team for guidance through the complex purchase accounting in order to determine the accounting acquirer and the purchase price allocation.

In addition to the accounting advisory for the purchase accounting, they assisted the business units with audit support and financial statement preparation.

Note: This work was performed prior to joining Stout.