Consulting M&A Weekly Round-up (10th to 16th September, 2023)

by | Sep 18, 2023 | 0 comments

The world of consulting mergers and acquisitions is never dull, and this week is no exception. Kearney has made history with its first Middle East deal, while Argon & Co. has also made an acquisition that’s worth taking note of.

But these aren’t the only interesting things happening in this field. As someone who values the latest developments in this industry, it’s always a thrill to watch events unfold and see what surprises are in store.

Whether it’s strategic partnerships, new acquisitions, or daring business maneuvers, there’s always something new to explore and analyze.

So, without any further ado, let’s jump into the latest happenings in the world of consulting mergers and acquisitions.

#1. Kearney acquires MSE; its first ever Middle East deal

In its third transaction this year, global strategy consulting powerhouse Kearney has made its inaugural foray into the Middle East by acquiring Management Solutions Experts (MSE), a locally grown management consulting firm with offices in Riyadh, Dubai, and Beirut.

Founded in 2005 in Lebanon and currently led by partners Imad Moujaes, Fadi Boutros, and Hady Touma, all of whom boast backgrounds at Booz & Company, Management Solutions Experts specializes in orchestrating strategy execution and steering significant business overhauls through organizational restructuring, workforce development, and technology integration.

This acquisition of Management Solutions Experts (MSE) marks the culmination of several years of collaboration between the two entities. Bob Willen, Managing Director and Chair of Kearney in the Middle East and Africa, expressed his excitement at the full integration of the “highly skilled MSE team” into the Kearney family.

#2. Argon & Co buys Dutch operations specialist M3 Consultancy

Argon & Co, the global consulting firm specializing in operations and supply chain management, has expanded its presence in the Netherlands through the acquisition of M3 Consultancy.

Established in 2004, M3 Consultancy has evolved over the past two decades into a well-established boutique firm with expertise in supply chain strategy and digital operations. The company serves clients spanning various industries and earned recognition for its client impact, earning a spot in the top supply chain consulting firms ranking by industry platform last year.

With the addition of M3 Consultancy, nearly 20 consultants will join Argon & Co’s Dutch division. This expansion comes after the launch of the Dutch division in 2021, following the integration of R&G Global Consultants, which was headquartered in the Netherlands and operated in four other European locations.

#3. J.S. Held acquires IP consultancy TechPats

J.S. Held, the global consulting firm, has recently completed the acquisition of TechPats, a full-service intellectual property (IP) consulting firm based in Philadelphia.

Established in 1998, TechPats specializes in offering consulting services to major technology companies, aiding them in safeguarding and capitalizing on their intellectual property and intangible assets. The firm excels in various areas, including patent services, portfolio development, litigation support, and patent transactions.

In an official announcement, J.S. Held revealed its intention to integrate TechPats into the newly formed IP specialty services group, operating under the Ocean Tomo brand. J.S. Held had acquired Ocean Tomo the previous year, a leading IP consultancy headquartered in Chicago, which boasted a workforce of over 80 employees at the time of its acquisition.

#4. TPG-backed BGB Group purchases healthcare consultancy Kx Advisors

BGB Group, an established healthcare communications agency based in New York, has successfully completed the acquisition of Kx Advisors, a prominent healthcare strategy consulting firm located in Washington, DC.

Previously operating as the healthcare division within the Kaiser Associates management consultancy, Kx Advisors transitioned into an independent entity in 2019. The firm has cultivated expertise in providing strategic consultancy services tailored to biopharmaceutical, medical device, digital health, and diagnostic companies.

Among Kx Advisors’ comprehensive array of services are corporate strategy development, franchise planning, market expansion strategies, precise forecasting, support in mergers and acquisitions, new product planning, pricing and market access guidance, as well as brand planning and launch strategies.

BGB’s acquisition of Kx Advisors represents a significant step in reinforcing its strategic consultancy capabilities, marking the culmination of its strategic expansion efforts over the past few years.

#5. Atturra to acquire Perth-based Cirrus in $50 million deal

In just one week, the ambitious Australian IT consultancy, Atturra, has completed two significant acquisitions. The highlight of these acquisitions is the purchase of Perth-based managed services provider, Cirrus, for nearly $50 million.

Cirrus, originally founded in Perth in 2012 by former Dell executive Frank Richmond (who relocated to the UK in 2017), made its mark on the ASX three years later and earned recognition on Deloitte’s Tech Fast 50 list in 2015. During the past fiscal year, Cirrus generated an impressive $112 million in revenue. Notably, it was previously targeted for acquisition by Webcentral, but last year, Webcentral decided to sell its 18.5 percent stake for $5.5 million.

Atturra’s CEO, Stephen Kowal, expressed excitement about this acquisition, stating, “Cirrus will significantly enhance Atturra’s recurring managed service capabilities and will expand our client base in a complementary manner, offering substantial opportunities for cross-selling in the future. Cirrus brings a wealth of expertise in the government, energy, and resources sectors, having served some of the industry’s leading names. This acquisition further strengthens Atturra’s position to become a market leader in these sectors.”

#6. Levio acquires Salesforce partner Soljit

Levio, an IT consulting firm headquartered in Montreal, has completed the acquisition of Soljit, a Salesforce consulting company also based in Montreal.

Soljit, established in 2009, specializes in delivering a range of Salesforce-related services, including strategy and roadmapping, implementation and integration, change management, and managed services.

The firm has a robust client portfolio consisting of Canadian and American businesses across various sectors, including financial services, technology, manufacturing, transportation, public sector, and non-profit organizations.

Through this acquisition, Levio will substantially enhance its capabilities in customer relationship management (CRM) and marketing technology.

Closing Thoughts

Over the course of this week, we’ve delved deep into the world of consulting mergers & acquisitions, exploring the ins and outs of this dynamic and fast-paced sector.

As we bid farewell to our coverage, we want to take a moment to thank you, our loyal readers, for joining us on this journey. We hope that our insights have been useful in providing you with a better understanding of the trends and challenges in this field.

But our work is never done, and we recognize that there are always new developments and deals taking place. So if there’s anything we missed or if you have any feedback, please don’t hesitate to reach out to us.

We look forward to sharing more updates with you in the weeks to come. In the meantime, take care and stay tuned!