Stout is pleased to announce the acquisition of Financial Research Associates, Inc. (FRA), a nationally recognized financial consulting firm specializing in business valuation, forensic accounting, and litigation support. Established over 40 years ago, FRA brings significant expertise in its core areas, further strengthening Stout’s position as one of the largest business valuation, litigation, and family law valuation practices nationwide.

Stout welcomes FRA’s team of over 30 professionals to the firm’s Valuation Advisory group. The acquisition will provide FRA’s clients with access to Stout’s extensive network of professionals and additional advisory services, including investment banking, transaction advisory, disputes, claims, and investigations.

“This acquisition marks a significant milestone for Stout as we continue to expand our capabilities in business valuation and litigation support,” said Greg O’Hara, President of the Valuation Advisory group at Stout. “FRA’s deep expertise and strong market presence in the tri-state area including Pennsylvania, New Jersey, and New York complement Stout’s existing strengths, enhancing our ability to deliver exceptional service and solutions to our clients.”

“We are excited to join Stout and leverage its extensive resources and global reach,” said Jay E. Fishman, Founder and Managing Director at FRA. “This union will allow us to offer our clients enhanced capabilities, deeper industry insights, and access to a broader range of advisory services.”

The deal marks Stout’s eighth acquisition since Audax Private Equity’s investment in November 2021. The acquisition of Financial Research Associates was finalized on July 1, 2024, with legal counsel provided by Winston & Strawn LLP.