Consulting M&A Weekly Round-up (12th to 18th March, 2023)

by Laurent Thomas | Mar 20, 2023 | 0 comments

Welcome back to another weekly round-up of consulting M&A news. We have a few deals to cover for this week including acquisitions by the big consulting companies such as KPMG and PwC. Let’s have a look at each of the mergers and acquisitions of the week.

#1. KPMG Fiji acquires Microsoft specialist Acton

KPMG Fiji has purchased Microsoft-specialized firm Acton for an undisclosed amount as part of its ambitious expansion goals.

Acton, a company founded in 2017 and backed by Bradley Stroop, the former CEO and creator of UXC Eclipse, which CSC (now DXC Technologies) purchased in 2016, offers a variety of cloud technology services across the Microsoft suite, including Dynamics 365 for Finance and Operations.

KPMG Fiji’s acquisition of Acton will assist the firm in expanding its offering of Microsoft products to its mid-market clients throughout the South Pacific.

#2. Ryan acquires tax credit specialist RTC Consulting

Ryan, a commercial tax consulting firm, has purchased Montreal-based SR&ED (scientific research and experimental development) tax consultancy RTC Consulting.

RTC Consulting, which was founded in 1989, specializes in filing claims for tax credit programs in over 30 scientific and technological sectors. SR&ED, Private Partnership Pre-Competitive Research, Creation of E-Business, and Production of Multimedia Titles are among the primary federal and provincial tax credit schemes covered by the boutique firm’s offerings.

Ryan’s acquisition of RTC Consulting will help the firm bolster its Canadian SR&ED practice and much more.

#3. PwC to acquire HR technology firm People Force

PwC, one of the Big Four consulting firms, has agreed to acquire People Force. The agreement, which is made for an undisclosed amount, is anticipated to be finalized by April 2023.

People Force, which was was founded in 2013, has its headquarters in Wellingborough, Northamptonshire. It operates in the areas of people technology selection and implementation and guides clients through their transformational journey when integrating advanced people technologies.

As part of the acquisition, all of People Force’s employees will join PwC’s people and organization unit. This includes the top leadership group of People Force.

#4. RSM triples German revenues with addition of Ebner Stolz

Global professional services firm RSM has beefed up its presence in Germany with the purchase of Ebner Stolz to its network.

Ebner Stolz is one of the largest accounting and consultancy firms in Germany, with gross revenues of €343 million and over 2,100 employees spread across 14 offices in all major cities. Similar to RSM, the company concentrates mostly on the mid-market segment.

From October 1, 2023, Ebner Stolz will join the worldwide network and trade as RSM Ebner Stolz for two years before rebranding as RSM.

#5. RLH Equity Partners invests in workforce consultancy Connors Group

The Los Angeles-based private equity firm RLH Equity Partners has invested in the Pittsburgh-based industrial engineering management consultancy Connors Group.

Connors Group, which was founded in 2008, assists retail, distribution, service, and manufacturing businesses with operational efficiency and productivity improvements. The company’s skills include industrial engineering, human resource management, operational technology, strategic consulting, and software deployment across the whole supply chain.

Speaking about the deal, one of the main officials at RLH Equity Partners stated that Connors Group is well positioned to help its clients adapt to an era of rapid changes in the workforce. The combined impacts of e-commerce, rising consumer service expectations, flexible omni-channel retail, re-shoring of manufacturing, increased compensation expectations, and labor shortages create the need for significant improvements in how employees are deployed in the enterprise.

#6. Ankura purchases Chartwell Compliance

Ankura has purchased Chartwell Compliance, a regulatory compliance firm in Fairmont, West Virginia that caters to banking and fintech companies.

Chartwell Compliance was established in 2011 and provides regulatory compliance, state licensing, financial crimes prevention, and enterprise risk management consulting, outsourcing, testing, and training services. The company is knowledgeable in Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) procedures, due diligence, business planning and development, consumer compliance, independent review, and money transmission licenses as well.

With the acquisition of Chartwell Compliance, Ankura will be able to offer banking and fintech compliance services in addition to its core investigations, litigation, and oversight offerings.

Closing Thoughts

And that’s a wrap! We will be back again next week for another round-up of consulting M&A news. In the meantime, if we missed out on any deals, then please write to us and let us know. Until next time, its bye for now.