Consulting Acquisitions in 2020

SS&C Technologies has agreed to acquire Raleigh, North Carolina-based Millennium Consulting Services and Millennium Seminar Services to expand its insurance-focused consulting and training offerings. The deal adds 13 employees and brings regulatory consulting, statutory outsourcing and insurance accounting training capabilities into SS&C's insurance services lineup.

Charlotte-based private equity firm Falfurrias Capital Partners has acquired Ballast Research from National Journal Group (a division of Atlantic Media). Ballast Research — a Washington, D.C.-based policy research and government affairs consulting firm — will continue to be led by Mike Gottlieb with David Bradley remaining as a key investor; Falfurrias aims to accelerate Ballast's growth and expand its geographic and capability footprint.

Capco has acquired NEOS LLC, a Hartford, Connecticut-based consultancy focused on insurance strategy, operations, data, and technology. NEOS’s leadership team, including Founder and Managing Partner Ernst Renner, and its employees will join Capco to expand the firm’s insurance capabilities; financial terms were not disclosed.

Jacobs has agreed to acquire a 65% majority stake in PA Consulting for an enterprise value of £1.825 billion (approximately $2.4 billion), with PA employees rolling 35% of the equity and The Carlyle Group exiting. The deal is structured as a private-equity-style investment including preferred and common equity, debt facilities provided by Jacobs (a £650 million term loan and up to £100 million revolving facility), and is intended to accelerate PA's growth and deepen Jacobs' digital, innovation and consulting capabilities.

Milliman, a global actuarial and consulting firm, acquired Dental Actuarial Analytics, LLC (DAA), a Connecticut-based boutique actuarial consulting firm specializing in dental provider network assessments and benchmarking. The acquisition expands Milliman's dental consulting capabilities—bringing DAA's PPO Network Study, competitive network analysis expertise, and related analytics into Milliman's dental and healthcare offerings.

BCT Partners has acquired Critical Measures, a Minneapolis-based corporate training and management consulting firm that specializes in diversity, cross-cultural communication, and health equity. The acquisition expands BCT Partners' capabilities in diversity, equity and inclusion (DEI) and healthcare-focused training, enabling combined offerings that address COVID-19 related inequities and systemic racism.

Epiq has acquired Hyperion Global Partners, a business and technology advisory practice focused on legal operations and transformation, including its analyst unit Hyperion Research. The deal expands Epiq's legal transformation services and brings Hyperion's founder and CEO, Eyal Iffergan, into Epiq as Managing Director of its new legal operations advisory business.

Riveron, a Dallas-based business advisory firm, has acquired Winter Harbor, a Boston-based restructuring and turnaround advisory firm. The deal expands Riveron's restructuring capabilities and adds geographic presence in Boston and the greater New England market; terms were not disclosed.

SIB Fixed Cost Reduction, a PE-backed spend-management platform, has acquired Cost Control Associates (CCA), a utilities and telecom spend-management firm headquartered in Queensbury, New York. The deal, supported by SIB sponsor O2 Investment Partners, expands SIB’s capabilities in utility expense oversight and is positioned as an add-on acquisition to deepen client offerings and drive revenue synergies.

Newport News-based federal contractor ITA International has acquired management consulting firm Innovative Decisions Inc. (now Innovative Decisions International) to add decision and risk analysis, operations research and systems engineering capabilities. Capstone Strategic advised ITA on the transaction to help integrate IDI's people and complementary capabilities into ITA's service offerings for government and commercial customers.

Accenture has agreed to acquire Myrtle Consulting Group, an industrial operations and supply chain consulting firm headquartered in Houston. The acquisition will bolster Accenture Industry X's digital manufacturing, operations and supply chain capabilities by adding Myrtle's frontline operational expertise, change-management methodology and industry experience across consumer goods, life sciences, chemicals and heavy manufacturing.

USI Insurance Services has acquired Hildi Incorporated, an Eden Prairie, Minnesota-based actuarial consulting firm that specializes in defined benefit pension and post‑retirement plan services. Hildi will be combined with USI Consulting Group to expand USI’s retirement consulting capabilities in the Upper Midwest; terms were not disclosed.

Executive compensation and leadership consulting firm Pearl Meyer has acquired Yaffe & Company, a specialist in executive compensation, governance, physician advisory, and faculty compensation serving not‑for‑profit healthcare systems and higher education institutions. The acquisition brings Alexander Yaffe and his team into Pearl Meyer as part of an effort to deepen the firm's capabilities and client coverage in healthcare and higher education.

OneDigital has acquired DS Benefits Group, a human capital management and benefits consulting firm based in Medina, Ohio. The acquisition expands OneDigital’s presence in the Ohio market and adds DS Benefits Group’s employee benefits, HR administration and organizational development capabilities to OneDigital’s platform.

Credera, part of Omnicom Precision Marketing Group, acquired a majority stake in London-based DMW Group to expand its consulting and digital transformation capabilities into Europe. DMW's existing management team, led by CEO Chris Dean, will remain in place as the firm integrates with Credera and the Omnicom network.

Italian consultancy BIP has completed a major investment to acquire UK digital transformation consultancy Chaucer, bringing the UK firm into BIP's global network. Growth Capital Partners, Chaucer’s private equity backer since 2014, and other Chaucer shareholders were advised on the transaction and exited as part of the deal, expanding BIP's international footprint and strengthening its UK presence.

Ankura, a global business advisory and expert services firm, acquired Water Street Partners, a Washington, D.C.-based joint venture and alliance advisory firm. The deal brings Water Street's transaction, governance and JV expertise and team into Ankura to expand its joint-venture and partnership advisory capabilities.

Arthur D. Little (ADL) acquired US-based Cutter Consortium and France-based Presans to expand its open consulting and open problem solving capabilities. Both businesses will continue to operate under their current brands and management while leveraging ADL's global footprint, investment and technology platform to accelerate AI-driven offerings and industrial innovation.

Accenture has acquired Kates Kesler, a New York City–based organization design consultancy, to bolster its Talent & Organization / Human Potential practice with new methodologies and experts. The acquisition is intended to expand Accenture's C-suite offerings in organization design, people experience and leadership development; terms were not disclosed.

Main Street Capital Corporation provided $48.8 million of financing (first‑lien senior secured term debt plus a direct equity investment) to facilitate the recapitalization of Pearl Meyer & Partners, LLC, and also extended a credit facility to support the firm's growth. The transaction was completed in partnership with Pearl Meyer’s management team and senior consultants to provide liquidity and working capital for future initiatives.

Brown & Brown of Kentucky, Inc., a subsidiary of Brown & Brown, Inc., has acquired substantially all of the assets of Northeast Dealer Consultants, Inc. (NEDC). NEDC — led by Phil and Pamela Bruno and focused on F&I performance and compliance for automotive dealers in upstate New York — will join Brown & Brown Dealer Services to expand the firm's footprint and capabilities in the Northeast.

Yum! Brands has acquired Heartstyles, a leadership development and behavioral-assessment consultancy, to scale a people-first leadership program across its KFC, Pizza Hut and Taco Bell systems. Yum! is initiating a multi-year global rollout of Heartstyles to support its franchisees and strengthen front-line manager capabilities.

Indianapolis-based leadership consulting firm FlashPoint has acquired Fine Points Leadership of Colorado Springs, Colorado. The deal brings Fine Points’ leadership development and coaching capabilities into FlashPoint to increase capacity and expand client offerings while Fine Points’ founder Amy Savage joins FlashPoint as a consultant and account manager.

Kinaxis Inc. has acquired Prana Consulting, a supply-chain consultancy based in India, to create a new services hub and add experienced RapidResponse practitioners. The acquisition expands Kinaxis's global services capacity and enhances its ability to support customers across automotive, high-tech, consumer packaged goods, life sciences and aerospace sectors.

HR Path has signed a definitive agreement to acquire 100% of InTalent, a Montreal-based HR consulting and HCM implementation firm. The acquisition strengthens HR Path's North American footprint—reinforcing its Montreal office and adding expertise in HR strategy and implementations with vendor partnerships such as Oracle and Cornerstone.

CIP Capital has completed a strategic, platform investment in Sales Benchmark Index (SBI), a Dallas-based sales and marketing management consulting firm. SBI's management team will continue to lead the business and retain a significant ownership stake; Stellus Capital provided unitranche financing to support the transaction and JEGI | CLARITY advised CIP Capital.

RANE (Risk Assistance Network + Exchange) has acquired Stratfor, the Austin-based geopolitical intelligence platform. In connection with the transaction Dallas-based private equity firm Teakwood Capital made an investment in RANE; Stratfor’s analysis and forecasting capabilities will be integrated into RANE’s platform to expand risk intelligence offerings for corporate and government clients.

Secretariat has acquired construction consulting and dispute resolution firm TDF, LLC and will welcome founder Thomas Fertitta as Managing Director of a new Washington, D.C. office. The deal expands Secretariat's construction consulting and government-sector capabilities and establishes a local presence in the Washington market.

Ankura has acquired 284 Partners, an Ann Arbor, Michigan–based intellectual property consultancy, and will integrate the entire 20-member team into its global advisory platform. The deal expands Ankura's IP-related capabilities — including expert witness, economic damages analysis, and FRAND valuation work — to better serve clients in high-stakes disputes and transactions.

The Kreller Group has acquired Smith Brandon International, Inc., a Washington, D.C.-based corporate investigations and risk consulting firm. Smith Brandon will operate as Smith Brandon International, a Kreller Company, remaining in its Washington office while the combined capabilities expand Kreller's global due diligence and investigative offerings.

Boston-based private equity firm WestView Capital Partners has completed a growth investment in The Shelby Group, a Schaumburg, Illinois–based e-procurement transformation and optimization consultancy. The Shelby Group's leadership (CEO John Dreyer and EVP Jim Kandilas) will remain in place and retain significant ownership as the company uses the capital to scale service delivery capabilities and advance its proprietary digital procurement solutions.

Bates Group, a financial services consulting firm based in Lake Oswego, Oregon, has acquired The Advisor's Resource, Inc. (TARI), a Houston-based compliance consulting firm. The deal expands Bates Group's Bates Compliance practice, adding regulatory compliance expertise and client relationships with RIAs, private equity, and hedge funds across Texas, the South, and nationwide.