Charles River Associates (CRAI) Acquires Welch Consulting

Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced its acquisition of Welch Consulting, a leader in economic consulting, research, and analysis of labor and employment issues. Under the terms of the transaction, which closed on February 28, 2022, CRA purchased substantially all of the assets of Welch Consulting and retained the services of Welch’s approximately 45 employees, including five individuals who will become vice presidents within CRA’s Labor and Employment Practice: G. Edward (Ted) Anderson, Amy M. Aukstikalnis, Hyowook Chiang, Valentín Estévez, and Jora B. Stixrud. Donald R. Deere and Michael P. Ward will affiliate with CRA as senior consultants.

“This acquisition is entirely complementary for CRA and will approximately double the size of our strong Labor and Employment Practice, while being accretive to our earnings in 2022,” said Paul Maleh, CRA’s President and Chief Executive Officer. “We are thrilled to welcome aboard Welch Consulting’s team of experts. They will deepen our bench and enhance the in-depth analysis and advisory services we provide to law firms, companies, and government agencies involved in complex labor and employment matters.”

“I look forward to working with this stellar group of economists, each of whom is a recognized expert in the field of labor and employment,” said Matthew R. Thompson, a CRA vice president and leader of the Labor and Employment Practice. “This acquisition will expand our Los Angeles presence and comes at a time of broad, national trends regarding fair treatment in the workplace, including fairness in pay, promotion and hiring practices.”

Welch Consulting was founded in 1978 to provide consulting and testifying services to the labor and employment community, and currently has offices in Bryan, Texas, Los Angeles, and Washington, D.C. Its clients have included major law firms and leading corporations in nearly every industry throughout the United States, with extensive work in the United Kingdom and South America.

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