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Navigant Consulting acquiring Chicago Partners

By Associated Press
April 21, 2008 | Comments (0)

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Navigant Consulting Inc., a business consultancy, said Monday it will acquire Chicago Partners LLC, an economic and financial analysis consultancy, for $73 million in cash and stock.

Navigant will pay $50 million in cash and $23 million in stock. The deal size could increase depending on certain post-closing performance targets.

The deal is expected to boost Navigant's earnings slightly within 12 months.

Chicago Partners will be integrated into Navigant as the company's fourth operating segment. John Garvey, president of Chicago Partners, will serve as the head of the new segment.

Chicago Partners generated $46 million in revenue in 2007. Navigant reported $767.1 million in revenue in 2007.

The deal is expected to close during the second quarter.

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