Consulting M&A Weekly Round-up (1st to 7th May, 2022)

by | May 10, 2022 | 0 comments

We’re back with another weekly round-up of consulting M&A’s! As you know, each week, we’re providing a recap of the biggest news and notable deals in the consulting M&A front. This week, we saw some big names in the industry make acquisitions, including McKinsey, Accenture, Ernst & Young, as well as Analysys Mason. So, let’s dig deep into the deals of the week.

#1. McKinsey acquires Spanish Salesforce partner S4G Consulting

S4G Consulting, a Spanish firm specializing in Salesforce consulting and implementation services, has been bought by McKinsey & Company. A team of roughly 160 individuals from Madrid and Barcelona will join McKinsey & Company’s technology service line under the Marketing & Sales practice.

S4G Consulting, a Salesforce Platinum Partner since 2008, works with Salesforce’s customer relationship management (CRM) technology across all disciplines. S4G Consulting has completed over 900 projects since its beginning, and it now ranks among the top 10 global Salesforce Platinum Partners in terms of customer satisfaction.

As per one senior partner in McKinsey, this deal will help their clients deepen their customer relationships by putting predictive and prescriptive insights and recommendations at their fingertips so that they can easily take action.

#2. RSM acquires marketing agency Andculture

RSM, a US-based firm has agreed to purchase Andculture, a marketing agency based in Harrisburg, Pennsylvania, in a deal that is set to close on June 1.

Andculture, a marketing firm founded in 1999, specializes in strategic marketing campaigns, website, and platform design, user experience design, and demand creation. AOL, Cisco, Gap, and Mayo Clinic have all collaborated with the firm’s staff of approximately 60 strategists, designers, and engineers.

RSM’s acquisition of Andculture would create a new “human-centered design practice” at the mid-market accounting firm. In addition, RSM will open a new office in Harrisburg.

#3. Be acquires majority stakes in Synapsy and Quantum Leap

Be | Shaping the Future, an Italian professional services firm, has completed two mergers in its home market in recent weeks, acquiring majority holdings in Synapsy and Quantum Leap.

Synapsy generates and hosts live communication, such as studio recordings and podcasts. The 20 workers of Milan-based Synapsy will join Be as part of the agreement, with the present management team continuing to lead the company for at least the next seven years. Meanwhile, Be also bought a 60% investment in Quantum Leap, a boutique consultancy specializing in technology transfer and open innovation services for the scientific research and industrial sectors.

These two deals by Be come just 6 months after it had acquired a majority stake in Crispy Bacon, an Italian and Albanian firm specializing in web-mobile development and cloud infrastructures.

#4. FRP acquires Bridgeshield Asset Management

FRP Advisory has added a property specialist to its growing team by acquiring Bridgeshield Asset Management, a property assets and loan risk management firm.

Bridgeshield, which is a firm that is based in Essex, helps in advising specialist short-term lenders on property asset management for bridging, refurbishment, and development funding. It also provides advice on asset management, LPA receiverships, and loan risk management to lenders in the UK.

Speaking about the deal, a partner at FRP stated that the new partnership will help further accelerate growth and broaden the service offering to cover property asset management services for specialist lenders.

#5. Accenture continues sustainability acquisitions with Akzente deal

Accenture has bought Akzente, a German sustainability, and ESG consultancy, This happens to be Accenture’s third European sustainability and ESG-focused acquisition in as many weeks.

Akzente was founded in 1993 to help firms in a variety of industries, including automotive, financial services, energy, and consumer goods, as well as integrate sustainability into their operations. Sustainability strategy, non-financial and ESG reporting, communications, and stakeholder management are among the firm’s other specialties.

The founder and managing partner at Akzente spoke about this deal and stated that it (the deal) will help the firm extend their value proposition to new customers across industries and geographies and also help in providing the employees with new opportunities.

#6. EY acquires data consultancy Gensquared

EY Canada announced the acquisition of Gensquared Inc., a Toronto-based IT consulting firm that specializes in data and analytics projects.

Gensquared, which was founded in 2010, has a staff of more than ten consultants who specialize in data strategy, delivery and implementation, upgrades, migrations, and managed services. Prior to starting a project, the firm’s “business-centric” approach (as opposed to a tech-first approach) ensures that the firm understands a company’s goals, objectives, and capabilities.

EY’s acquisition of Gensquared will provide new personnel and resources to the Big Four accountancy’s data, analytics, and AI practice.

#7. Leading healthcare and pharma boutiques Vintura and Cepton merge

Vintura and Cepton, two renowned boutiques in the healthcare and life science sectors, have merged to form a consultancy that comprises about 90 employees spread across four European regions.

Vintura has been assisting clients in the healthcare and life sciences sectors with strategy, organization, and change since 2000. From offices in the Netherlands, Germany, and the United Kingdom, the consulting firm employs 55 consultants and personnel. EIT Health, Janssen, Roche, and various hospitals are among its clientele.

Cepton, on the other hand, is a healthcare expert focused on strategy and management consulting services and was founded in 2006. The 35-person organization, which is situated in Paris, primarily serves mid-market companies and private equity firms in France.

This merger gives both consultancies more scale and a foothold in new markets. It will also provide complementary lines of business to both firms.

#8. Analysys Mason acquires space specialist Northern Sky Research

Analysys Mason has bought Northern Sky Research, a research and consulting firm based in Cambridge that focuses on the space industry. This acquisition happens to be Analysys Mason’s first since the 2020 acquisition of German telecom consultancy Allolio & Konrad and Swedish consulting Stelacon in 2019.

Northern Sky Research came into existence in 2000 and is a global provider of satellite and space market research services in areas like satellite and space applications, infrastructure, military and defense, and earth observation. The firm’s 20-person team also offers strategic and financial consulting to companies, governments, and new businesses.

The acquisition expands Analysys Mason’s satellite communications and space capabilities at a time when the industry is quickly merging with the worlds of telecoms and technology, two of Analysys Mason’s core emphasis areas.

#9. Other consulting M&A deals

  • Wipro adds Australian SAP team via $540 million Rizing purchase.
  • Rimkus buys Boston-based Commercial Construction Consulting.

Closing Thoughts

That’s a wrap! It was a big week in the consulting M&A front so with many deals going through. As always, if we skipped any deals by mistake, please write to us and let us know. Moreover, we will be back again next week to cover another round of mergers and acquisitions in consulting. Till next time, it’s bye for now.