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ISPLA NEWS: K2 Intelligence Acquires Thatcher Associates

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  • Peter Psarouthakis
    Investigative Firm Started by the Krolls Acquires Private Watchdog K2 Intelligence, the investigative business started by Jules B. Kroll and his son, Jeremy
    Message 1 of 1 , Jan 7, 2013
      Investigative Firm Started by the Krolls Acquires Private Watchdog

      K2 Intelligence, the investigative business started by Jules B. Kroll and
      his son, Jeremy Kroll, has acquired the corporate intelligence firm Thacher
      Associates, a deal highlighting the growing and lucrative business of
      internal investigations and corporate monitoring, according to "DealBook."

      Thacher Associates, based in New York, is a leader in the niche business of
      overseeing large-scale real estate development projects on behalf of
      governments and developers to ferret out corruption in the construction

      The deal, expected to be announced on Thursday, underscores the prevalence
      of private watchdogs (or independent inspectors general) not only in the
      building industry but across corporate America. Both government regulators
      and large companies are increasingly looking to independent overseers to
      monitor businesses for possible wrongdoing.

      Kroll is a big name in the global investigations industry. In the 1970s,
      Jules Kroll helped pioneer the business of helping corporations improve
      their operations by uncovering fraud and other forms of corruption in their
      business. Kroll increased its business rapidly, embarking on a series of
      acquisitions and diversifying into areas like litigation support and data
      recovery. In 2004, Marsh & McLennan purchased Kroll in an all-cash deal
      worth $1.9 billion. In 2010, Marsh sold Kroll to the global security firm
      Altegrity. In 2009, the year Jules and Jeremy Kroll left Kroll they started
      K2, which now employs about 120 people.

      Thomas D. Thacher 2d,(known as "Toby"), the chief executive at Thatcher
      Associates, said that the combination with K2 will provide a platform to
      expand the business to new geographies. Thacher's business developed in the
      1990s when then-Gov. Mario Cuomo sought to root out graft in New
      Yorkconstruction projects. A former assistant district attorney in
      Manhattan, Thacher served as inspector general of the New York City School
      Construction Authority before starting his own firm.

      High-profile assignments handled by Thacher Associates have included the
      World Trade Centersite cleanup, the building of the new Yankee Stadium, and
      the construction of the new Bank of America office tower in Midtown


      Corporate Intelligence: The Bloodhounds of Capitalism:

      Below is a link to a January 5 article in "The Economist" regarding
      corporate investigations that may be of interest to investigators.

      "There is plenty of work to go round. Assignments linked to mergers and
      acquisitions have dwindled along with the number of deals, but other areas
      are expanding. One big source of work is the growing complexity of business
      regulation. Multinationals can never be sure that some employee, somewhere
      has not violated America's Foreign Corrupt Practices Act, or some other
      anti-bribery law. Corporate compliance departments often bring gumshoes in
      to assist their own investigations...."


      via @theeconomist

      Bruce Hulme

      ISPLA Director of Government Affairs

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