About the Transaction:

Veritas Global LLC, a corporate investigative services firm was spun off from AlixPartners in 2005 with a group of private investors. In 2009, Greenfield Partners was contacted by a principal investor in Veritas requesting that we acquire an interest in the company and participate in the turnaround of the business. With the assistance of Greenfield Partners, Veritas was able to quickly return to profitability and was purchased by The Rehmann Group, a Michigan based accounting firm in June of 2010.

Key Value Creation Metrics:

• Upon acquiring an interest in the business, Greenfield Partners was immediately able to significantly reduce the cost of space by incubating Veritas within its Bloomfield Hills, MI office. Restructuring previous rental agreements and moving into the Bloomfield location provided Veritas with a sound foundation to begin its return to profitability.
• Veritas was able to leverage Greenfield Partners’ contacts within the banking community to develop a new clientele base. The benefits of Veritas’ services were immediately apparent and the number of projects within the financial sector quickly multiplied.
• Greenfield Partners changed the financial processes of Veritas, identified and implemented several cost-cutting and cost-saving ideas. The benefits were more accurate and timely financial information for decision making.
• Greenfield Partners determined The Rehmann Group, a Michigan based accounting firm, to be the ideal buyer for the business as the partnership would allow Veritas to leverage Rehmann’s sizable corporate and municipal clientele base. The opportunity was recognized by Rehmann and a sale was completed in June of 2010. They are now called Rehmann Corporate Investigative Services.