Abstract
Arthur D. Little Inc. (ADL), founded in 1886 and claiming to be the world's first consulting firm, was sold off in pieces last week. Five buyers together spent more than $96 million to acquire its various business operations. Another $15 million to $20 million in assets are to be sold separately to pay creditors. A management buyout group funded by technology consulting firm Altran Technologies purchased two of the biggest pieces, along with the Arthur D. Little name. Charles River Associates, a financial and business consultancy, bought ADL's chemicals and energy practice for $7 million. ADL filed for voluntary reorganization under bankruptcy law in early February. Despite having annual revenues of about $500 million, the firm had incurred some significant one-time losses. Based in Cambridge, Mass., it employed about 2,000 people in 30 countries. The company is known for its technology consulting and research, conducted independently and collaboratively at its more than ...
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