What We Did
A rundown of our key accomplishments in 2021, including revenue growth, expansion of capabilities, recognitions, select engagements, and more.

We're proud of all we accomplished in 2021

Following one of the most challenging years in recent history, our resilience shone through, and 2021 proved to be an extraordinarily productive year. Between our revenue growth, a key acquisition, a new service line, a large-scale investment, our 24th office opening, and much more, we feel a sense of deep appreciation and are well-positioned for continued growth in the year ahead.
Revenue Growth
We're proud to say our relentless approach allowed us to bounce back strongly after a challenging 2020. We surpassed $200M in revenue for the first time in our history, and are well-prepared to continue with sharp revenue growth in FY2022.
GLOBAL operations, $ in millions USD
Fiscal Year Ending 9/30/2021

Highlights from a landmark year

Stout made a number of big moves in 2021 that not only broaden our capacity to deliver results to our clients when it matters most but also take us the next click forward in our evolution as a leading-edge firm.
Audax Partnership
Audax Private Equity made an investment in the firm alongside Stout’s employee shareholders to support future growth. As part of the transaction, our existing shareholders maintain a meaningful equity stake in the firm, and our management team will continue to lead the company.
Secura Acquisition
Stout acquired Secura Risk Management, LLC, a boutique Atlanta-based consulting firm and membership organization that works with financial institutions of all types and sizes in the areas of payments, regulatory compliance, fraud and risk management, and training and education. The addition of Secura will add Payments to our existing complement of regulatory compliance services for all types of financial institutions.
New Service Line:
IT Due Diligence
Stout began offering our IT Due Diligence service. We assist buyers and sellers in understanding the value drivers and risks associated with the proposed transaction. Our focus is on identifying issues that may affect the current state of IT, as well as required investments that ultimately impact the valuation and purchase agreement.
Miami Office Opening
Stout added its newest office in Miami and welcomed Sergio Negreira as Managing Director and Office Leader. The new office is based in downtown Miami at 201 S Biscayne Boulevard. We now have 24 offices globally.
Chief Revenue Officer
Stout hired Michelle Johnson as Chief Revenue Officer. In this role, Michelle leads our strategy for long-term revenue growth by expanding the value our teams provide to clients. Her efforts build on over twenty years of experience in professional services firms leading teams to present complex analyses to large multinational corporations’ finance and tax departments.
Tennis Sponsorship with Steve Johnson
Stout is proud to sponsor tennis professional Steve Johnson, who joined the Stout family in 2021. One of the greatest college tennis players of all time and an Olympic medalist, Steve is currently one of the top-ranked American professional tennis players.
Golf Sponsorship with Sam Ryder
2021 marked the third year of our sponsorship of Sam Ryder. Sam had his best season on the PGA Tour with 4 top-ten finishes, including a second place finish at the Corales Puntacana Resort & Club Championship.

Notable Recognitions

Stout is consistently recognized for its professional excellence, and 2021 only continued that trend. Here are a few honors we're particularly proud of from the past year.
U.S. and Global Fairness Opinion Ranking
Stout is pleased to be recognized again as a top fairness opinion advisor by Refinitiv’s Global Mergers & Acquisitions Review. In 2021, Stout ranked second in the United States and third globally, rendering 48 fairness opinions worldwide. Since 2012, Stout has consistently ranked as a top fairness opinion provider. Our professionals leverage the firm’s extensive investment banking and valuation experience to assist clients in making sound business decisions and completing their critical transactions. We understand the complexity and uncertainty inherent in completing a deal and are committed to navigating through the “noise” to provide timely, sophisticated, and reliable advice.
Pro Bono Publico Honoree
Each year, the Legal Aid Society recognizes the outstanding work of volunteer lawyers, law firms, corporations, and other professionals who have volunteered their time and talent to provide exceptional professional services to low-income New Yorkers. We are pleased to announce Neil Steinkamp, Robert Levine, and Anson Smuts have been awarded the 2021 Pro Bono Publico Award by the Legal Aid Society for outstanding financial advisory services to Legal Aid and its clients.
ALM Legal Operations Pacesetter
Stout’s Legal Management Consulting practice was recently named both a Pacesetter and Market Leader in Legal Operations by proprietary analysis and research company ALM Intelligence. ALM Intelligence analyzed the legal operations capabilities of eighteen companies they regard as Market Leaders. We were one of four companies subsequently distinguished as a Pacesetter by ALM’s analysts.
IAM Patent 1000 and Strategy 300
Seven of Stout’s intellectual property experts were recognized by Intellectual Asset Management (IAM) in its annual publications. John Bone, David Haas, Steve Holzen, Michele Riley, Mitch Rosenfeld, Dana Trexler, and Scott Weingust were recognized as top U.S. economic expert witnesses in this year’s IAM Patent 1000: The World’s Leading Patent Professionals. Scott Weingust and Mitch Rosenfeld have also been recognized as world-leading intellectual property strategists in the 2021 IAM Strategy 300: The World’s Leading IP Strategists. IAM Patent 1000 identifies individual and firm expertise in all major areas of patent law and practice. IAM Strategy 300 identifies individuals who are leading the way in the development and implementation of strategies to maximize the value of IP portfolios.

Insights for informed decision making

Stout’s professionals regularly act as thought leaders. Throughout the year, we showcase our expertise through articles, reports, guidance documents, industry updates, and resource centers on important topics and trends.
Automotive Recall
Based on our extensive experience serving automotive industry clients, our seventh annual report is packed with data and insights to help inform and shape future recall risk management strategies.
Industry Updates
Our investment banking experts leverage their substantial industry knowledge to provide regular updates on recent trends and activity in the M&A and private equity markets.
Current State of Discount Valuations
This book examines the seminal Tax Court cases of the past as well as the most recent hot-button cases regarding valuation for income, estate, and gift tax purposes.
Resource Centers
Stout has compiled helpful resources on numerous subjects to serve as a one-stop-shop for information gathering.
Paycheck Protection Program
Stout has been helping both borrowers and lenders prepare for SBA audits and comply with data requests and bank regulatory requirements (AML) since the CARES Act was established. Our experience with the PPP rules has been honed by our work with hundreds of PPP borrowers, lenders, and leading law firms/attorneys. We know the red flags, risks, and mitigations to assist clients in preparation for successful interaction with government investigators and auditors.
Stout’s Transformative Change consultants have collected resources to assist our clients and their communities with understanding the eviction process, its impacts, and solutions to combat the eviction crisis that cities large and small are facing. Our Eviction Right to Counsel Resource Center is a compilation of resources addressing these important issues.
Intellectual Property
Stout has the only fully integrated team of valuation professionals, damages experts, compliance professionals, investment bankers, and technical experts with the ability to execute a full spectrum of IP services. Our new Intellectual Property Resource Center features our capabilities across numerous areas, including expert testimony and consulting, valuation, transactions, and compliance.
Court Case Commentaries and Reviews
Stout regularly researches court cases and provides expert analyses on significant matters. We examine the background behind a case as well as the court’s proceedings leading up to a decision. We also consider key takeaways for professionals who might find themselves in related situations.
Premium client service on every engagement
To ensure outstanding service, we regularly survey our clients about our efforts. Since 2016, our net promoter score – an industry-standard measure of our clients’ willingness to recommend Stout’s services on a scale of -100 to +100 – has been +90, a sign of our clients’ trust and positive feedback.

What clients are saying about us

No matter the nature of an engagement, we treat every client as our best client. We always strive to exceed expectations on both a project level and a personal level, ensuring that all professionals we work with receive quality service with every matter.
"Team was very knowledgeable and provided excellent customer service. Everyone was very flexible and accessible, as well as providing timely deliverables."
- Financial Reporting Manager,
Insurance Company
"Frequent feedback on status, data requirements and outstanding questions. This constant and timely communication ensured delivery of the product on time and accurate, no surprises."
- Chief Financial Officer,
Department Store Chain
"Working with Stout was great. The team was very knowledgeable and professional, and the deliverables were exactly what we needed."
- Chief Financial Officer,
Party Equipment Rental Service
"Very happy with your service and the end product."
- Consultant, Automotive Industry
"Great team assigned to our account. Deep knowledge and patient with our ever-changing needs."
- Chief Financial Officer
Trusted by Leading Brands from Around the World
Strengthening our track record of delivering results.
We have significant expertise providing services spanning a wide range of industries and practice areas. As always, we are honored to serve our clients for their most important and complex engagements. Click any of these tiles to read about some of our engagements from the past year.
Attracting and elevating the industry's brightest minds
Our senior professionals are essential to the firm’s growth and success. In the past year, we welcomed many Managing Directors and Directors to Stout and recognized numerous senior-level promotions within the firm.
Senior-Level Additions
Newly-promoted Managing Directors