Consulting Acquisitions in 2023

Bain Capital Private Equity completed the acquisition of Guidehouse from Veritas Capital for $5.3 billion. Guidehouse, a McLean, Virginia–headquartered consulting and managed services firm with more than 17,000 professionals, will continue to be led by CEO Scott McIntyre as it pursues further organic and inorganic growth under Bain.

Elixirr, the London-based challenger consultancy, has acquired U.S. management consultancy Insigniam to expand its capabilities and U.S. footprint. The deal brings Insigniam's team and expertise in organizational breakthroughs, innovation and transformation into Elixirr as the firm pursues accelerated growth and broader service offerings in the U.S. and European markets.

E78 Partners, a private-equity-focused business advisory firm based in Oak Brook, Illinois, has acquired Global PMI Partners USA (GPMIP USA), a consultancy specializing in post‑merger integration (PMI) services. The deal brings GPMIP USA's founders and PMI capabilities into E78's service offering to expand its M&A lifecycle solutions for private equity sponsors and enterprise clients in the U.S. and Canada.

Hyperdrive Agile Leadership completed the acquisition of Scaled OKRs on December 1, 2023 to integrate advanced OKR frameworks into its business agility offerings. The deal brings Scaled OKRs’ objective-setting expertise together with Hyperdrive’s agile transformation services to expand capability and performance-management solutions for enterprise clients.

Resolution Economics (a portfolio company of Levine Leichtman Capital Partners) has acquired the Affirmative Action Plan (AAP), DE&I, pay equity, and related training practice groups of Biddle Consulting Group; financial terms were not disclosed. The acquired practice groups — headquartered in Folsom, California — will be integrated into ResEcon’s Berkshire Division to expand its AAP, EEO consulting, litigation support, and workforce-analytics capabilities.

Workplace Options (WPO), a global provider of holistic employee wellbeing solutions, has acquired The Diversity Movement (TDM), a technology-led DEI consulting and employee experience platform. The acquisition expands WPO's capabilities in diversity, equity, and inclusion programming and enables broader delivery of TDM's subscription-based learning and analytics platform to WPO's global client base.

Jabil Inc. has acquired ProcureAbility, a provider of procurement advisory, managed services, digital solutions, and staffing. The acquisition will allow Jabil to integrate ProcureAbility’s procurement capabilities with Jabil’s global supply chain and manufacturing expertise to expand procurement services for enterprise clients.

Accenture has acquired Comtech Group, a Toronto-based consulting and program management firm that supports large infrastructure and capital projects across Canada and the United States. The acquisition (terms undisclosed) expands Accenture’s capital projects and Industry X capabilities in Canada, adding approximately 300 Comtech employees and expertise in construction management, facility and manufacturing engineering, and process control automation.

Harbor has acquired the Legal Management Consulting practice from Stout to expand its advisory and managed-service capabilities in e-discovery, legal hold, data preservation, enterprise legal management (ELM) and contract lifecycle management (CLM). The former Stout team—recognized for advising corporate law departments and having served 125 Fortune 500 law departments—will enable Harbor to deliver expanded advisory and managed services to corporate legal departments and law firms.

Accenture has acquired The Storytellers, a London-based creative change management consultancy that partners with C-suite leaders to develop narratives and activate transformational change. The acquisition strengthens Accenture’s Talent & Organization / Human Potential capabilities by adding storytelling, facilitation, creative communications and immersive experience skills to its consulting offerings; terms were not disclosed.

Global consulting firm J.S. Held has acquired Phoenix Management Services and Phoenix IB to expand its turnaround, restructuring, corporate finance, and investment banking capabilities. The deal brings Phoenix's operational turnaround and advisory expertise together with a FINRA-registered broker-dealer platform to support middle-market special-situation and M&A work across multiple industries.

Jogan Inc., a venture capital holding company based in Englewood, Colorado, has acquired emergency management firm All Hands Consulting (AHC). The deal brings AHC into Jogan’s portfolio to expand its emergency management, resiliency, and consulting capabilities and to support growth alongside Jogan’s existing healthcare and transportation businesses.

dss+ acquired ADS System Safety Consulting, LLC, a U.S.-based consulting firm specializing in system safety, system security, and fire and life safety. The acquisition expands dss+'s operational risk management and technical safety engineering capabilities across public transport, aviation, space and autonomous/electric vehicle markets.

Global consulting firm J.S. Held has acquired Annapolis, Maryland-based TransCon CSI, a specialist in accident investigation, reconstruction, and expert witness testimony. The deal expands J.S. Held's Accident Reconstruction practice and adds mid-Atlantic technical resources and commercial vehicle investigation capabilities.

HKA has acquired ASQ Consulting Group, a Houston-based expert witness and forensic accounting firm, to expand its U.S. forensic accounting, commercial damages, and intellectual property (including FRAND and ITC) capabilities. The acquisition adds ASQ's specialized IP and litigation support expertise and its team in the United States to HKA's global dispute resolution and litigation support platform.

Pearl Meyer has acquired The River Group, a boutique consultancy that provides executive assessment, coaching, succession planning and organizational-design services to CEOs and executive teams. The acquisition expands Pearl Meyer’s leadership practice and deepens its capabilities in executive development and organizational effectiveness.

Long Nyquist & Associates has acquired Pugliese Associates, combining the two Harrisburg-based government relations firms to create the largest standalone lobbying firm serving Pennsylvania. The combined firm will field twenty full-time government relations professionals and expand Long Nyquist & Associates' client roster and capabilities in state-level public affairs.

E Source, a utility market intelligence and solution services platform backed by Align Capital Partners, has acquired Utilligent, an operations and technology management consulting firm serving electric, gas, and water utilities. The add-on expands E Source's capabilities in smart infrastructure, data transformation, program execution, and customer engagement, and increases E Source's headcount by roughly 30%.

Global consulting firm J.S. Held has acquired TechPats and integrated the business into its Ocean Tomo brand to form an Intellectual Property Specialty Services group. The deal brings TechPats' patent-focused business intelligence capabilities to J.S. Held/Ocean Tomo, expanding the firm's IP advisory, litigation support, and portfolio strategy offerings.

Denver-based Liftout Capital acquired a majority stake in Miami/Doral-based Franchise Creator, a franchise development and consulting firm; founder Hossein Kasmai will remain as CEO. True West Capital Partners provided financing to support the transaction, which Liftout said is intended to accelerate Franchise Creator's growth and expand its franchise development capabilities.

Arthur J. Gallagher & Co. acquired Toronto-based A.H. Horn and Associates Limited (dba Horn), a sales and leadership development consultancy. The Horn team will join Gallagher’s benefits and HR consulting operation in Canada to bolster the firm’s leadership advisory capabilities; financial terms were not disclosed.

Global leadership advisory firm Russell Reynolds Associates (RRA) has acquired Kilberry, a Toronto-based leadership advisory and management psychology firm. Kilberry's team of roughly 11 consultants will join RRA's Toronto office, strengthening RRA's executive assessment, CEO succession, coaching, and private equity advisory capabilities and expanding its presence in Canada.

Morrow Sodali has acquired HXE Partners, an ESG strategy and implementation advisory firm, to expand its ESG practice and deepen climate-related capabilities. HXE Partners' founder Harry Etra will join Morrow Sodali as Managing Director; financial terms were not disclosed.

Sussex Strategy Group, a Canadian public affairs and strategic communications firm, has acquired Cumberland Strategies and integrated its staff and clients. The deal expands Sussex's national presence and broadens its advisory, government relations, and strategic communications capabilities across sectors including energy, environment, infrastructure and transportation.

Accenture has completed the acquisition of Optimind, a Paris-based consulting firm specializing in risk management, actuarial services and regulatory compliance for insurers, banks and large corporates. The Optimind team of more than 350 professionals (including 110+ actuaries) will join Accenture to enhance its quantitative risk-management, compliance and advisory capabilities in France and Luxembourg; financial terms were not disclosed.

EPSA has completed the acquisition of AB&C Group, a Netherlands-based consulting and interim management group, to strengthen its presence in the Benelux and accelerate international expansion. The deal closed on July 25, 2023 and was financed with debt plus additional equity from EPSA's existing and new financial investors.

Global management consulting firm Kearney has acquired Silicon Foundry, an innovation advisory and venture-scouting firm, to expand its strategic transformation and innovation capabilities. The deal brings Silicon Foundry’s startup and investor network into Kearney’s global consulting platform, enabling broader access for corporate clients to emerging technologies and venture ecosystems.

The Vertex Companies, a portfolio company of Wind Point Partners, has acquired Breakwater Forensics, LLC, a Chicago-based expert witness and business consulting firm. The deal expands Vertex's forensics and expert testimony capabilities and strengthens its North American professional services bench.

SBI, a go-to-market growth advisory, has acquired Sales Readiness Group (SRG), a sales training firm founded in 2008. The purchase adds customized, skills-based sales training and e-learning capabilities to SBI's consulting and commercial talent productivity offerings.

UK private equity firm Mobeus has made a £19.6m minority (growth) investment in Intralink Group, a UK-headquartered business development and innovation consultancy that helps western and Asian tech and sustainability companies expand internationally. The capital will be used to extend Intralink's coverage across Asia—including ASEAN and the Indian sub-continent—and to build on its B2B tech and sustainability capabilities.

K2 Partnering Solutions has acquired Aquient, a Singapore-headquartered customer experience and digital transformation consultancy. The deal expands K2's managed solutions and enterprise application capabilities across the Asia-Pacific region and brings Aquient's expertise in CX design, data science, marketing technology and CRM into K2's global services portfolio.

Delta Consulting Group has acquired Froese Forensic Partners, a Canadian forensic accounting and financial investigations firm with offices in Toronto and Calgary. The acquisition expands Delta's service capabilities in forensic accounting, fraud investigations and business valuation while establishing a stronger presence in the Canadian market.

Affiliates of Kohlberg & Company have agreed to acquire Riveron, a national business advisory firm, from H.I.G. Capital. H.I.G. will retain a minority stake and a significant portion of Riveron's employees will hold equity; the deal is intended to accelerate Riveron's capability and geographic expansion to support further growth.

Delve, a PE-backed product innovation consultancy, has acquired Boston-based altr, a digital innovation and design firm, to expand its digital strategy and product design capabilities. The add-on strengthens Delve’s ability to deliver unified physical and digital product experiences for clients across healthcare, consumer, and enterprise markets.

Global consulting firm J.S. Held has acquired London-based Africa Matters Limited, an Africa-focused strategic advisory firm that provides business intelligence, stakeholder engagement, and sustainability consulting. The acquisition expands J.S. Held's Global Investigations Practice and strengthens the firm's capabilities and regional reach across the African continent.

Stone-Goff Partners, a private equity firm, has made a growth investment in FS Vector, a Washington, D.C.-based strategic advisory and advocacy firm serving fintech and financial services clients. The capital will support FS Vector's service development, team expansion, and pursuit of complementary M&A; Canaccord Genuity advised FS Vector on the transaction.

SKDK has acquired Jasper Advisors, a boutique c-suite advisory firm founded by Julie Andreeff Jensen and David Sutphen. Jasper will operate as an independent subsidiary within SKDK (part of the Stagwell network), expanding SKDK's senior strategic counsel and sports practice capabilities; terms were not disclosed.

Bain & Company has formed a strategic alliance and made a direct investment in Ashling Partners, a Chicago-based intelligent automation consulting and implementation firm backed by THL. The move deepens collaboration within Bain's Vector digital practices to scale automation and managed-services capabilities for enterprise clients across industries.

Charlesbank Capital Partners has entered a partnership and invested to help launch Salus GRC, a new governance, risk, and compliance (GRC) services firm led by founders William Mulligan (CEO), Chris Lombardy (President) and Alan Binder (CFO). Headquartered in Westport, Connecticut, Salus GRC will provide tech-enabled compliance and GRC support to private fund managers and other financial services firms, with plans to expand into cybersecurity, ESG and RegTech services.

KCP Advisory Group has merged Remuda Advisors into its firm and appointed Remuda founder Steven Bellah as Senior Managing Director to lead a new Dallas office and head the Lender Services Group. The move expands KCP's turnaround and restructuring capabilities and brings Remuda's portfolio management and wind-down expertise into KCP's advisory platform.

Ankura Consulting Group announced the acquisition of GreenPoint Group, a US–China strategic advisory firm with teams in Beijing and Washington, DC. The deal expands Ankura’s Global Strategic Advisory capabilities to help clients navigate China; financial terms were not disclosed.

KKR has made a growth investment in FGS Global, the strategic advisory and communications consultancy in which WPP remains the majority shareholder. Golden Gate Capital will exit its stake to KKR; the transaction values FGS Global at $1.425 billion and is expected to close before the end of Q3 2023.

European management and technology consultancy BearingPoint has acquired London-based Salesforce consulting firm Smplicity. The deal brings Smplicity's Salesforce experts into BearingPoint to strengthen its Salesforce capabilities and support the firm's UK growth plans across sectors such as insurance, retail and media.

Magellan Partners has acquired Adone Conseil, the leading European management consulting firm focused on the luxury and retail sectors, combining capabilities to create a comprehensive organization and technology consulting offering. Adone Conseil brings nearly 500 employees and €75 million in revenue (2022), and the deal boosts Magellan Partners Group to roughly €370 million in revenues and about 2,700 employees in 2023.

Heidrick & Struggles has agreed to acquire businessfourzero, a London-based consultancy focused on purpose-driven change, culture and leadership. The acquisition will expand Heidrick's leadership advisory and culture capabilities and accelerate businessfourzero's international footprint; terms were not disclosed and the deal was expected to close in April 2023.

Penta has acquired Copperfield Advisory, a New York–based communications, brand, and strategy consulting firm, to expand its strategy and reputation-management capabilities. Copperfield's founder Andy Whitehouse will join Penta as a senior partner and lead the firm's New York strategy practice; Penta is majority-backed by Falfurrias Capital Partners.

APCO Worldwide, a global advisory and advocacy consultancy, has acquired Gagen MacDonald, a human-centered transformation and employee engagement consultancy. Gagen MacDonald will operate as a wholly owned subsidiary led by Founder and CEO Maril MacDonald and its team will integrate with APCO’s global advisory capabilities to strengthen change, culture and employee-engagement services.

Deep Water Point, a Renovus Capital portfolio company, has acquired Wolf Den Associates to create Deep Water Point & Associates. The combined firm expands federal market capabilities—bringing together capture, proposal, strategy, transaction advisory and broader management consulting expertise—and the merged organization is positioned to serve a full lifecycle of growth for government contractors.

Quantive acquired AuxinOKR, a UK-based OKR and strategy execution consulting firm, and launched Quantive Consulting to provide organizational change management and strategy implementation services. As part of the deal, AuxinOKR founders Peter Kerr and Mark Richard join Quantive as expert consultants and Quantive hired Bala Thiru to lead its new consulting practice.

RLH Equity Partners has made a growth equity investment in Connors Group to accelerate the productivity consultancy's expansion and service capabilities. Connors Group, a provider of workforce management, operational excellence and systems implementation services to retail, distribution and healthcare clients, will use the capital to scale its footprint and continue product and service development.