Resources Connection (RGP) Acquires Reference Point LLC

Resources Connection, Inc. (NASDAQ: RGP) has just announced its definitive agreement to acquire Reference Point LLC, a strategy, management, and technology consulting firm focused on the financial services sector. This move is expected to expand RGP's consulting capabilities in the financial services sector significantly.

Reference Point, established in 2002, provides end-to-end solutions for clients, with a differentiated consulting delivery model led by former industry executives supported by top-tier consultants. The firm has offices in New York, Washington, D.C., and Charlotte, N.C.

Upon closing, this transaction is anticipated to expand the portfolio of high-value advisory services RGP offers its financial services clients. It is also expected to accelerate the growth of the firm's financial services and overall consulting business. The current management team of Reference Point, led by Mr. Scott Goeden, will continue to lead the business following the close of the transaction.

RGP's CEO, Kate Duchene, emphasized the significant cultural alignment and synergy between the two organizations. She stated that the business combination is expected to accelerate growth in the financial services sector and introduce higher value advisory solutions to clients.

The transaction, subject to customary closing conditions, is expected to close by early summer 2024. Clearsight Advisors, Inc. served as the exclusive financial advisor to Reference Point in connection with the transaction.

RGP, named among Forbes' World's Best Management Consulting Firms for 2023, is a global consulting firm focused on project execution services powered by on-demand, expert and diverse talent. The company has approximately 3,600 professionals engaged with over 1,800 clients around the world from 38 physical practice offices and multiple virtual offices. RGP is listed on the NASDAQ Global Select Market.

This acquisition is poised to significantly impact RGP's consulting capabilities in the financial services sector, offering a broader range of services to its clients and accelerating the growth of its consulting business. The market has reacted to these announcements by moving the company's shares 0.4% to a price of $13.11. For more information, read the company's full 8-K submission here.

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