Resultant Buys Liberty, Forging an End-to-End M&A Powerhouse

INDIANAPOLIS, IN – April 01, 2026 – In a significant move signaling a deeper consolidation of strategy and execution in the consulting world, technology and data firm Resultant today announced its acquisition of Liberty Advisor Group. The deal brings the Chicago-based M&A advisory specialist into Resultant’s fold, creating a formidable, integrated platform designed to serve private equity firms and Fortune 500 companies across the entire lifecycle of a transaction.

The acquisition marries Liberty’s deep expertise in pre-deal due diligence and operational strategy with Resultant’s formidable capabilities in large-scale data analytics, AI, and digital transformation. The combined entity aims to provide a seamless journey from identifying value in a deal to fully realizing it through technological and operational overhauls post-close.

"We are thrilled to welcome Liberty's outstanding team of seasoned consultants and operators as we continue to ensure we are delivering best-in-class solutions and services to our clients," said Greg Layok, Resultant CEO. "The addition deepens our expertise in M&A transaction services and portfolio management, particularly for private equity clients who require trusted advisors throughout the entire investment lifecycle."

A Strategic Play in a Resurgent M&A Market

This move marks Resultant’s fifth acquisition and its third since global investment firm Investcorp acquired a majority stake in the business in 2021. It underscores an aggressive and carefully orchestrated growth strategy focused on acquiring complementary capabilities in compelling geographies. Following the acquisitions of Connect Think (2019), Advocate Solutions (2020), Tempus Nova (2021), and data analytics firm Teknion Data Solutions (2022), the Liberty deal represents a significant push into the high-stakes private equity advisory space.

The timing aligns with a broader market rebound. After a slowdown, M&A activity is showing renewed vigor, with industry reports indicating that a majority of corporate and private equity leaders anticipate an increase in deal volume this year. However, the nature of these deals is evolving. With rising interest rates making pure financial leverage less attractive, the focus has shifted intensely toward genuine operational improvement and value creation within portfolio companies.

Resultant’s strategy appears tailor-made for this new environment. By acquiring Liberty, the firm is betting that clients no longer want a fragmented approach, with one firm advising on a deal and another, separate firm attempting to handle the messy, complex work of post-merger integration.

Bridging the Gap Between Deal Strategy and Digital Execution

The core of the acquisition’s value proposition lies in creating what the firms describe as a comprehensive M&A lifecycle platform. For clients, this means a single partner to navigate the journey from initial assessment to final value realization.

Liberty Advisor Group brings unimpeachable credentials to the table. Founded in 2008, the firm has delivered over $1 billion in operating income improvements for its clients and has supported more than 300 M&A transactions. Its reputation is built on providing rigorous technology and operational due diligence that uncovers hidden risks and opportunities before a deal is signed. With 85% of its annual revenue coming from repeat clients, Liberty has proven its ability to deliver tangible results. Its proprietary Cyber 360 offering also gives private equity general partners a crucial, portfolio-wide view of cybersecurity risks—a critical factor in protecting exit valuations.

Once a deal is closed, Resultant’s execution capabilities take center stage. The firm’s scale in data science, AI, and digital transformation is positioned to ensure that ambitious 90-day plans and complex carve-outs are executed with precision. The goal is to move beyond simply merging IT systems and instead use the transaction as a catalyst for genuine digital transformation, whether through supply chain optimization, ERP modernization, or the deployment of advanced analytics.

“Joining Resultant creates powerful opportunities for our PE partners and their portfolio companies,” said Chad Smith, Liberty’s founding partner and CEO. “Our clients now have access to a significantly broader range of technical capabilities in AI, advanced analytics, and digital transformation: the primary levers for modern value creation.”

The New Mandate for Private Equity Value Creation

This integrated model directly addresses the most pressing pain points for today’s private equity investors. In an environment of longer holding periods, PE firms are under immense pressure to drive EBITDA growth through tangible improvements rather than market arbitrage. Technology is the primary lever for this, yet it is also a common point of failure in M&A.

"As private equity sponsors ourselves, we understand well how the quality of technology and data systems drive value at portfolio companies, especially around M&A integration,” noted Vitali Bourchtein, Investcorp managing director and Resultant board member. “Liberty is a world-class operator in this domain, and we look forward to bringing this expertise and capabilities to Resultant’s clients.”

By embedding technology and data considerations at the very beginning of the deal process, the combined firm can help clients avoid acquisitions with crippling technical debt or un-scalable platforms. Post-close, their integrated approach aims to prevent the common pitfalls of stalled AI initiatives or fragmented data systems that often plague portfolio companies, ensuring that technology becomes a driver of growth, not a drag on performance.

Integrating Cultures and Capabilities

The success of the acquisition will ultimately hinge on the successful integration of people and cultures. Approximately 30 professionals from Liberty will join the Resultant team, which will grow to 350 employees. Liberty will be folded into Resultant over a 12-to-18-month period, forming the core of a new transaction services practice.

Crucially, Liberty brings not just a book of business but also a widely recognized and lauded corporate culture. The firm is a seven-time recipient of the Great Place to Work® certification and has been repeatedly named to “Best Workplaces” lists by Fortune and Crain’s Chicago Business. Employee surveys highlight exceptionally high levels of trust, fairness, and camaraderie.

Fusing this tight-knit, award-winning culture into a larger, rapidly growing organization presents both an opportunity and a challenge. Resultant’s leadership has consistently emphasized the importance of “the right cultural fit” in its M&A strategy, a principle that will be put to the test. Successfully harnessing Liberty's strong culture could create a powerful engine for talent retention and recruitment, providing a significant competitive advantage in the fiercely competitive consulting landscape.