Consulting Acquisitions in 2024

Rivean Capital will acquire a majority stake in Valcon, the Utrecht-based digital transformation consultancy, subject to ACM approval and consultation with Valcon's Dutch works council. Waterland will be replaced as majority investor but will remain a minority shareholder; the investment is intended to accelerate Valcon's organic and acquisitive growth, expand capabilities (including AI and data services) and strengthen its position across Northwestern Europe.

Funds managed by Blackstone's private equity strategy will make a minority investment of up to €250 million in Sia Partners. Founder and CEO Matthieu Courtecuisse retains a significant majority stake and will continue to lead the firm; the capital will support Sia's U.S. expansion, capability development (notably in AI), and strategic M&A.

RLH Equity Partners has made a growth investment in The Asia Group (TAG), a Washington, D.C.-based geopolitical consulting firm that combines AI and human intelligence to advise corporations and investors operating across the Indo-Pacific. The partnership will support TAG's investments in talent, geographic expansion across Asia, and enhancement of its technology and functional capabilities.

Growth Catalyst Partners, a U.S. middle-market private equity firm, has acquired U.K.-based InspiredMinds!, a global AI strategy group and events community. Growth Catalyst will integrate InspiredMinds! into its Data Society Group platform while the business continues to operate independently and plans to launch its festival-style AI summits in the United States in 2025.

Tyto Athene, a Herndon, Virginia-based federal systems integrator and portfolio company of Arlington Capital Partners, has acquired Key Solutions, Inc. (KSI), a Washington, D.C.-area bid and proposal development consulting firm. The add-on strengthens Tyto's Proposal Center of Excellence and capture/proposal capabilities to accelerate growth in the government contracting market.

Schellman Compliance has acquired the sustainability reporting practice of Sustas, LLC, bringing Sustas's clients and personnel into Schellman's growing Sustainability practice. The move, announced Nov. 12, 2024, strengthens Schellman's environmental and sustainability compliance capabilities alongside its newly obtained ISO 14001 accreditation from ANAB to support clients navigating evolving climate disclosure rules.

Chemonics International has acquired Berlin-based Luvent Consulting to strengthen its presence in Europe and expand capabilities in sustainable development, digital transformation, private sector development, and climate action. The acquisition integrates Luvent’s specialist expertise and network with Chemonics’ global resources to deliver international development projects at greater scale.

Elixirr has acquired Hypothesis, a Los Angeles–based insights and strategy firm founded in 2000. The acquisition expands Elixirr's research, qualitative and quantitative capabilities and strengthens its US presence while adding expertise across technology, media & entertainment, and retail/CPG sectors.

Ashling Partners has acquired Reveal Group to expand its Multimodal Automation capabilities and add Reveal Group's proprietary Reveal RoboSuite automation acceleration tools. The deal brings Reveal's Intelligent Automation consulting expertise and North American client relationships (healthcare, banking/financial services, manufacturing) into Ashling's global delivery model and supports Ashling's expansion into Canada.

ACA Group has acquired the Effecta Compliance Group, a regulatory consultancy serving firms across the United Kingdom and the United Arab Emirates. The deal establishes ACA's presence in the Middle East (UAE) and expands its UK regulatory compliance capabilities and service offering for financial services clients.

Senior executives Zach Hyder and Gina Maffei completed a management buyout of public affairs firm Hubbell from founder Ward Hubbell, with advisory support from TobinLeff. Hubbell is a public affairs firm that helps developers and industry groups plan and build community assets across Oregon, Washington, California and Texas, focusing on renewable energy, digital infrastructure, housing, and industrial land use.

OutSolve, a portfolio company of The Riverside Company, has acquired Labor Law Center to expand its suite of labor and employment compliance solutions. Kian Capital Partners will continue as a meaningful minority investor in the combined business, creating a larger, integrated compliance platform serving employers nationwide.

WorkBuzz has acquired Agenda Consulting, a UK-based research consultancy specializing in employee and volunteer engagement for not-for-profit organizations. The deal will expand WorkBuzz's presence in the U.S. not-for-profit sector and add Agenda's benchmarking data and specialist expertise to WorkBuzz's employee listening platform.

Global consulting firm J.S. Held has acquired Stapleton Group and launched a Strategic Advisory practice led by Michael Jacoby. The acquisition strengthens J.S. Held's restructuring, bankruptcy, receivership, and turnaround capabilities and adds specialized expertise in real estate and agribusiness.

HR Path, a global HR consulting firm, has acquired IN-RGY, a Quebec-based HR digital transformation and HRIS consulting firm, to strengthen its presence in Canada and North America. The deal follows HR Path’s €500 million fundraising from Ardian and will see IN-RGY operate as "IN-RGY, an HR Path Company," with its leadership and teams remaining in place.

VSS Capital Partners completed a platform investment in Treya Partners, a San Francisco–based procurement and strategic sourcing consulting firm serving mid-market private equity-backed companies. Financial terms were not disclosed; Treya will partner with VSS to expand product offerings and pursue strategic M&A as part of a buy-and-build growth plan.

Dark Horse Consulting Group (DHC), a WestView Capital Partners–backed consulting platform, has acquired BioTechLogic, Inc., a CMC, manufacturing, quality and regulatory consulting firm serving biopharma and advanced therapies. The deal combines BioTechLogic's hands-on technical operations expertise with DHC's strategic CGT capabilities to expand service offerings across biologics, vaccines and cell & gene therapy clients.

Cadmus has acquired Ventera, a Virginia-based technology consulting firm, and will establish Ventera as a new Technology Solutions Division led by Ventera's CEO Robert Acosta. The deal brings Ventera's expertise in agile delivery, DevSecOps, and digital transformation into Cadmus to expand technology-enabled consulting capabilities for government and commercial clients.

Global consulting firm J.S. Held has acquired Canadian forensic accounting firm ADS Forensics, expanding its Forensic Accounting and financial investigations capabilities into Canada. The acquisition brings ADS Forensics’ Ontario-based team and expertise into J.S. Held’s global insurance and legal advisory platform, extending local services to the firm’s broader client base.

Cerity Partners is merging with Touchdown Ventures, integrating Touchdown as Cerity Partners Ventures (CPV) to expand the firm's venture-capital advisory capabilities. The deal will enable Cerity to offer Venture Capital-as-a-Service (VCaaS), broaden access to startups and corporate clients, and deepen its footprint in growth markets including Philadelphia, Chicago, Los Angeles, and San Francisco.

ZRG, a global talent advisory firm backed by RFE Investment Partners, has acquired Bravanti, a Chicago-based advisory firm specializing in executive coaching, leadership development, and outplacement/career transition services. The acquisition expands ZRG's Consulting & Advisory Services capabilities and brings Bravanti's global cadre of coaches into ZRG while Bravanti's leadership team will continue to operate the business; financial terms were not disclosed.

Riveron, a Kohlberg & Company–backed business advisory firm, has acquired Effectus Group, a San Jose–based accounting advisory and financial operations firm. The deal expands Riveron's West Coast presence and strengthens its technical accounting, capital markets, and managed accounting capabilities for high-growth technology and life sciences clients.

Global Good Consulting and Amani Institute have merged to form Global Good x Amani, a combined social impact consultancy operating from offices in India, Kenya, and the United States. The new entity will pool nearly 25 years of experience to deliver leadership development, organizational development, and social impact consulting to Fortune 100 companies, foundations, nonprofits, and government clients.

Richardson Sales Performance, backed by Truelink Capital, has acquired Challenger, the firm behind the Challenger selling methodology. The deal combines Richardson's role-based sales capability offerings with Challenger's research-driven approach and technology to expand the combined company's training, analytics and learning solutions for B2B sales organizations.

ProductLife Group (PLG) has acquired Outcomes'10, a Spain-based market access and HEOR consultancy, to strengthen PLG’s European market access capabilities and expand its global market access platform. Outcomes'10 — headquartered in Castellón — will augment PLG’s services in pricing & reimbursement, health economics and outcomes research, and real-world evidence generation.

Earth Finance has acquired Water Foundry, a global water strategy consultancy founded by Will Sarni, and will integrate its expertise into Earth Finance's water and nature practice. Will Sarni will join Earth Finance as Practice Leader, Water and Nature, strengthening the firm's capability to advise corporations, investors, the public sector and NGOs on water-related risks and natural capital strategies.

Alpha Financial Markets Consulting (Alpha) has acquired White Marble Consulting, a London-headquartered specialist marketing consultancy serving asset management, wealth management and alternatives clients. The White Marble management team (28 employees) will join Alpha to expand its marketing, brand and creative capabilities and create a specialist marketing boutique within the Alpha Group.

MGT, a national technology and advisory solutions leader, has acquired Cicero, a social-impact focused management consulting firm with an 80-person consulting corps. The acquisition expands MGT's strategic consulting capabilities—strengthening its data, analytics, and advisory services to SLED and commercial clients—and marks MGT's 10th acquisition over the past four years.

Fime has acquired Consult Hyperion to combine Fime's global consulting, testing and certification capabilities with Consult Hyperion's specialist advisory expertise in payments, smart mobility and digital identity. The deal strengthens Fime's end-to-end offering from strategy through implementation and testing and expands its ability to serve clients worldwide.

Yellowtail Conclusion has acquired Fortrum, a Netherlands-based consultancy specializing in mortgage risk, governance and due diligence, including the FortApp tool. The deal expands Yellowtail Conclusion's capabilities in the mortgage and credit market and adds expert consultants and technology to its offering within the Conclusion ecosystem.

dss+ acquired Infrata, a London-based global infrastructure advisory firm, expanding dss+'s technical, commercial and demand advisory capabilities for infrastructure investors, lenders and sponsors. The acquisition adds more than 70 senior infrastructure experts to dss+'s team and strengthens its transportation and infrastructure advisory offering across roads, airports, ports, waterways and railways.

Stagwell has entered into an agreement to acquire Consulum, a pan‑MENA government advisory consultancy with ~160 professionals and offices across Riyadh, Manama, Dubai, London, Cape Town and Kuala Lumpur. The acquisition strengthens Stagwell's strategic communications, public policy and government advisory capabilities as part of its MENA expansion.

Trivest Partners, a middle-market private equity firm, has made a strategic capital investment in Province, a Las Vegas–based restructuring and financial advisory firm. The investment will support Province's growth plans, expand its market share and capabilities, and accelerate geographic expansion into existing and new markets.

Southfield Capital announced a partnership investment in Business Development Resources, Inc. (BDR), a Seattle-based business coaching and training provider for field services contractors and distributors. Concurrent with Southfield's investment, BDR acquired BxB Media to create a new Marketing Services department; BDR founder Bruce Wiseman will remain involved as CEO post-close.

Arthur J. Gallagher & Co. has acquired Katy, Texas–based Zayla Partners, LLC, an executive compensation and governance consultancy. The Zayla leadership team (Chris Crawford, Ian Keas and colleagues) will remain in their current locations and join Gallagher's employee benefits consulting and brokerage operations to strengthen HR and compensation consulting capabilities.

Adarga, the London-based AI information intelligence provider, has acquired US strategic risk intelligence firm J2X Solutions. The acquisition brings J2X's veteran-led risk and security expertise into Adarga's AI platform to expand capabilities and accelerate its growth in the US defence, national security, and commercial markets.

SBI, the go-to-market growth advisory, has acquired Carabiner Group, a RevOps-as-a-Service firm, to expand its RevOps and RevTech capabilities. The deal strengthens SBI’s end-to-end GTM offering by adding Carabiner’s fractional RevOps, technology-agnostic systems integration, and RevTech expertise to SBI’s growth strategy and execution services.

Accenture has completed the acquisition of Intellera Consulting, an Italian consulting firm focused on public sector and healthcare digital transformation. The deal, announced in April and completed in May 2024, adds roughly 1,400 professionals from Intellera (backed by Gyrus Capital) to Accenture's Italian operations to expand its data, AI and public-sector capabilities.

NFP, an Aon company, has acquired HELPGB, a UK-based human resources and health & safety consultancy. HELPGB director Clark Hunter will remain with the business while founders Dave and Karen Townsend will retire following the acquisition, which expands NFP's HR and health & safety consulting capabilities in the UK.

Diversio has acquired CCDI Consulting from its parent organization, the Canadian Centre for Diversity and Inclusion (CCDI), integrating CCDI Consulting's DEI advisory, training, and education services into Diversio’s platform and services. The deal expands Diversio’s capabilities across strategy, training, and education and broadens its reach in North America and Europe to deliver combined data-driven DEI technology and human expertise.

Wipfli has acquired certain assets of Harbour Results, Inc., with 14 Harbour Results associates joining Wipfli. The acquisition brings Harbour Results' proprietary benchmarking service and manufacturing advisory capabilities into Wipfli's data and manufacturing practice and furthers Wipfli's expansion in Michigan.

RKD Group has acquired Heller Consulting, a nonprofit-focused technology strategy, CRM planning and implementation firm. Heller will operate as a subsidiary of RKD Group with founder Keith Heller remaining as a strategic advisor and Jeffery Appell serving as President of Heller Consulting, an RKD Group company.

QuantumWork Advisory, part of Allegis Group, has acquired Talent Tech Labs to expand its workforce advisory and WorkTech research capabilities. Talent Tech Labs will retain independence while broadening its research coverage to include technologies supporting all workforce categories, enabling combined consultancy and research offerings for corporate HR, staffing firms, and solution providers.

Marshall & Stevens, a Los Angeles-based valuation and dispute consulting firm, has acquired Value Consulting Group (VCG), a Minnesota-based valuation consulting and litigation support practice led by Patrick Schmidt. The acquisition expands Marshall & Stevens’ valuation, equipment appraisal, and ESOP-related capabilities and strengthens its presence in the Minneapolis–St. Paul market.

Accenture has acquired Axis Corporate, a Barcelona-based management and technology consulting firm specializing in financial services. The ~110-employee firm will join Accenture's Strategy & Consulting practice to strengthen its banking, payments and risk-management capabilities in Spain.

Crowe LLP has entered into an agreement to bring ITR Economics and its team into Crowe as a subsidiary. The acquisition adds economic research, forecasting and intelligence capabilities to Crowe's consulting and advisory services to enhance strategic advisory offerings for corporate and public-sector clients.

Zanders, backed by private equity investor MML Capital Partners, has acquired RiskQuest, a Dutch risk consultancy. The acquisition adds RiskQuest's team and software suite to Zanders, further expanding its European capabilities in credit risk, ESG and financial economic crime and growing the group's global headcount to around 450 across 11 offices.

Resources Connection, Inc. (RGP) has acquired Reference Point LLC, a New York–based strategy, management, and technology consulting firm focused on financial services. The acquisition expands RGP's high-value advisory capabilities in the financial services sector and will have Reference Point continue to be led by Managing Partner Scott Goeden within RGP's consulting organization.

CGL Companies has acquired JFA Associates, a criminal justice research and analytics firm, and will integrate JFA’s proprietary inmate-population simulation model and research capabilities into its justice consulting services. The acquisition expands CGL’s forecasting, offender classification, risk assessment, and program evaluation capabilities to better serve state, local and federal justice clients.

The Riverside Company has invested in Federal Wage & Labor Law Institute (FWLLI) as an add-on to its portfolio company OutSolve, enabling OutSolve to expand its labor law poster and HR compliance offerings. FWLLI, headquartered in Houston, provides All‑In‑One labor law posters, AutoComply services and compliance notifications; the acquisition strengthens OutSolve's compliance product suite and supports integration into a new compliance platform.