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Chicago, Illinois – April 1, 2026; City Capital Advisors, a Chicago-based middle market investment bank, is pleased to announce that it acted as the exclusive financial advisor to Liberty Advisor Group (“Liberty”), a Chicago-based consulting firm specializing in M&A advisory services for private equity firms and Fortune 500 companies, in the sale of the company to Resultant, a leading data and technology consulting firm. The acquisition creates a comprehensive M&A lifecycle platform, merging Liberty’s transaction advisory expertise with Resultant’s data and digital transformation execution capabilities.
“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.”
The combined firm offers an expanded suite of services specifically engineered for private equity firms and their portfolio companies to move seamlessly from value identification to total value realization:
- Validated Due Diligence: Liberty’s team, averaging 20+ years of experience per consultant, provides high-impact technology and operational due diligence to identify technical debt and scalability risks pre-close on the buy-side of transaction. Liberty also provides companies selling their business sell-side services to improve returns on the transaction.
- Accelerated Post-Close Integration: Resultant’s data and technology scale ensures that 90-day plans are executed with precision, particularly in complex carve-outs and multi-entity integrations.
- Quantifiable Value Creation: Leveraging a track record of over $1 billion in operating income improvement, the team focuses on tangible outcomes like supply chain optimization and ERP transformation to maximize portfolio valuations.
- Portfolio-Wide Risk Management: Liberty’s proprietary Cyber 360 offering provides GPs with comprehensive visibility into cybersecurity risks across their entire portfolio, protecting exit valuations.
“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.”
Mark Timmerman, Managing Director at City Capital Advisors, said, “Chad and his team spent years building an incredible business and reputation. This made it an ideal candidate to merge with a leading data and technology consulting firm like Resultant.”
“We are proud to welcome Liberty to the Resultant platform. 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,” said 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.”
Integrating Liberty will add approximately 30 professionals to the Resultant team, including industry-leading talent. Liberty has been recognized for its culture and workplace environment, including being named to Fortune’s Best Workplaces in Consulting and Professional Services and Crain’s Chicago Business’ Best Places to Work.
This marks Resultant’s fifth acquisition as the firm continues to expand its capabilities and market reach. Previous Resultant acquisitions include Dallas-based Teknion Data Solutions in 2022, Tempus Nova in 2021, Advocate Solutions in 2020 and Connect Think in 2019.
About Liberty Advisor Group
Founded in 2008, Liberty Advisor Group has delivered more than $1 billion in operating income improvement and supported over 300 M&A transactions for clients. Repeat clients serve as 85% of Liberty’s annual revenue, and the firm’s proven track record includes successfully executing complex carve-outs, such as advising the divestiture of two business units to foreign entities for more than $800 million.
About Resultant
Resultant is an independent technology, data analytics, and digital transformation firm. Resultant works in both the public and private sectors to help clients fulfill their missions, meet their goals, and solve their toughest challenges. The firm serves clients nationally from its headquarters in Indianapolis, Dallas, and Chicago
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-oriented investment banking advisory firm and has one of the top teams in the country for small to medium sized Medtech and Med Device M&A, capitalizing on extensive industry medtech expertise. Each of City Capital’s Managing Directors has more than 20 years of investment banking experience, offering clients the judgment and transaction management expertise honed from successfully executing more than $60 billion of collective merger and capital market transactions. Client engagements are managed exclusively by experienced senior investment bankers, allowing business owners to capture maximum value for their companies and to exceed shareholder objectives.