Ropes & Gray Advises on Stout Sale
Deal News | Jul 28, 2025 | Ropes & Gray
Ropes & Gray successfully represented Audax Private Equity in the sale of Stout, a global advisory firm known for its expertise in corporate finance, accounting, transaction advisory, valuation, and financial disputes and investigations. The transaction officially closed on July 16, with the announcement made public in a press release on July 28. Audax Private Equity, a prominent player in the middle and lower middle market investment sector, boasts approximately $19 billion in assets under management. Since its inception in 1999, Audax has made substantial investments in 175 platform companies and over 1,400 add-on acquisitions. The legal team from Ropes & Gray was led by private equity partner Ken Chow, emphasizing their role in this strategic exit.
Sectors
- Private Equity
- Advisory Services
- Legal Services
Geography
- United States – Audax Private Equity and Ropes & Gray are both based in the United States, as is Stout.
Industry
- Private Equity – Involves investment firms like Audax Private Equity which deal in buying, investing, and managing businesses to grow their value before resale.
- Advisory Services – Involves firms like Stout that provide corporate finance, transaction advisory, and valuation services.
- Legal Services – Ropes & Gray provided legal advisory services in the sale of Stout, showcasing the role of law firms in major corporate transactions.
Financials
- Approximately $19 billion – Assets under management by Audax Private Equity as of March 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stout | Target Company | Company | A global advisory firm specializing in corporate finance, transaction advisory, and valuation services. |
| Audax Private Equity | Selling Company | Company | A private equity firm that invests in middle and lower middle market companies, managing about $19 billion in assets. |
| Ropes & Gray | Legal Advisor | Company | A law firm that advised Audax Private Equity in its sale of Stout. |
| Ken Chow | Private Equity Partner | Person | A lead partner at Ropes & Gray involved in this transaction. |