Stout announced the acquisition of The Claro Group, LLC (“Claro”), one of the top privately owned financial, economic, and management consulting firms in the nation. Since 2005, Claro has helped executives and management teams analyze, control, and resolve difficult business challenges related to high-stakes litigation, insurance claims, corporate recovery, and other economic and financial matters.
Stout is pleased to welcome Claro’s team of 92 professionals to the firm, led by its Chairman John Cadarette, who was named Co-President of Stout’s Disputes, Claims, & Investigations group. Joining Stout will be 21 Managing Directors located in Chicago, Houston, Los Angeles, and Washington DC. Claro’s team of Claims experts will bring new capabilities to Stout, adding decades of experience in resolving complex current market and legacy long-tail liability insurance claims. Claro will also add capabilities in the areas of economic consulting and restructuring.
“Stout and Claro have natural synergies in the areas of expert testimony and consulting in financial disputes and investigations, and the transaction will further deepen our expertise across the country,” said Mike Petron, Co-President of the Disputes, Claims, & Investigations group at Stout. “Claro will bolster Stout’s client service offerings in Insurance Claims, with over 40 professionals focused on managing complex claims solutions. We are thrilled to welcome the Claro team to the firm.”
“Joining Stout is Claro’s next step to offering an even more robust suite of services and creative solutions to our clients,” said John Cadarette. “Stout’s commitment to providing best-in-class service and strong emphasis on culture align well with Claro’s core values. We are very excited to be a part of the Stout team and look forward to being a part of its continued growth.”
The deal represents Stout’s fourth acquisition since Audax Private Equity invested in the company in November 2021. The transaction to acquire Claro became effective on October 1, 2022. Winston & Strawn LLP served as legal counsel to Stout. Brownstein Hyatt Farber Schreck, LLP served as legal counsel and American Discovery Capital, LLC acted as financial adviser to Claro.