Duff & Phelps has signed an agreement to acquire American Appraisal Associates, a global valuation and fixed asset management advisor. The transaction will add to Duff & Phelps’ valuation capabilities by adding professionals in more than 50 offices globally.
American Appraisal is an independent, employee-owned valuation and advisory services firm headquartered in Milwaukee with nearly 50% of employees participating in the firm’s ownership. Its services include valuation, transaction consulting, real estate advisory and fixed asset management. American Appraisal has approximately 900 employees and has additional offices throughout Asia-Pacific, Europe, North America and South America (www.american-appraisal.com).
“The American Appraisal acquisition represents an important milestone for Duff & Phelps. 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. “American Appraisal’s established leadership in valuation and fixed asset management advisory services–which includes serving 85% of the Fortune 500–aligns seamlessly with our valuation expertise.”
Also included in the transaction is American Appraisal’s Real Estate Advisory Group, a real estate advisor with principal operations in Europe. The transaction is expected to close during the first quarter of 2015.
“Enterprises are increasingly accountable for reporting transparent valuations to regulators, investors and other stakeholders. The combination of our two companies creates a global powerhouse with the experienced professionals, independence and integrity that clients can rely on to satisfy this important commitment,” said Joseph Zvesper, American Appraisal’s Chairman and CEO.
Duff & Phelps advises clients in the areas of valuation, M&A and transactions, restructuring, alternative assets, disputes and taxation and has more than 1,000 employees serving clients from offices in North America, Europe and Asia (www.duffandphelps.com).
Kirkland & Ellis acted as legal advisor to Duff & Phelps and Foley & Lardner acted as legal advisor to American Appraisal.
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-3-15
