Stout, an investment bank and advisory firm focused on corporate finance, valuation, financial disputes and investigations and backed by Audax Private Equity, has acquired the Claro Group LLC, a privately-owned financial, economic and management consulting firm.

Claro aims to help executives and management teams analyze, control and resolve business challenges related to high-stakes litigation, insurance claims, corporate recovery and other economic and financial matters. Claro’s team of experienced claims professionals looks to bring new capabilities in resolving current market and long-tail liability insurance claims, as well as economic consulting and restructuring, to Stout.

“Claro will bolster Stout’s client service offerings in insurance claims, with over 40 professionals focused on managing complex claims solutions,” says Mike Petron, co-president of the disputes, claims and investigations group at Stout.

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.