Welcome back to our consulting M&A weekly round-up, where we bring you the latest updates and insights from the industry’s most significant movements. This week, Capgemini has been making headlines with some significant developments in the consulting M&A space.
What exactly is happening, and what does it mean for the industry? We have all the details for you, and we can’t wait to break it down. Plus, we’ll be looking at other deals that have been shaking up the consulting world in the week gone by.
So, grab a cup of coffee, sit back, and get ready to delve deep into the word of consulting mergers and acquisitions.
#1. Capgemini snaps up Belgrade-based HDL Design House
Capgemini has completed its second acquisition within a month by acquiring HDL Design House, an engineering firm with a workforce of 300 individuals.
Situated in Belgrade, the capital of Serbia, HDL Design House specializes in silicon engineering. The company primarily derives its revenue from two key sectors: the semiconductor industry and the automotive sector. Both of these industries rely on HDL Design House’s expertise in silicon design and verification to create more robust, intelligent, and interconnected microchips.
This Serbian company will integrate into Capgemini Engineering, which is Capgemini’s division dedicated to technology engineering and R&D services. This division was established following Capgemini’s €3.6 billion acquisition of Altran.
Predrag Markovic, President & CEO of HDL Design House, shared his thoughts on this collaboration with the global consulting and technology firm, stating, “After 22 years of cultivating and honing expertise across every facet of systems-on-chip implementation, and continually enhancing our capabilities in chip design services, we are eagerly anticipating the next chapter of our journey.”
#2. MinterEllison Consulting buys education specialist Wells Advisory
MinterEllison, a prominent law firm, has strengthened its Consulting division by acquiring Wells Advisory, a management consulting company established in 2016, specializing in the higher education sector.
Wells Advisory excels in offering services related to strategy, regulatory compliance, research commercialization, and governance.
Virginia Briggs, the CEO of MinterEllison, emphasized the significance of this acquisition, especially in the current state of the education sector. With significant changes on the horizon, educational institutions are facing the dual challenge of adapting to evolving circumstances while also striving to enhance efficiency, prioritize students, and embrace digital transformation.
Briggs further noted that the addition of the Wells Advisory team will empower MinterEllison to provide a comprehensive and integrated solution within the education sector. She highlighted the growing demand from clients for seamless, end-to-end solutions that seamlessly blend legal expertise with management consulting capabilities.
This strategic integration will complement the skills of their education-focused lawyers, enabling clients in the education sector to access cohesive guidance and support to better attain their organizational goals.
#3. Teneo buys debt and financial advisory firm Herter & Co
Teneo, the global consulting firm, has successfully completed the acquisition of Herter & Co, a firm specializing in debt advisory and financial restructuring with its base in Germany.
Operating out of Frankfurt, Herter & Co offers a range of services, including debt raising, refinancing, and restructuring. With a decade of experience under its belt and a team of approximately 25 professionals, the firm concentrates on serving both large and mid-cap transactions. Their in-depth expertise encompasses various aspects of loan products, capital markets instruments, and supplementary financial facilities.
This strategic move bolsters Teneo’s presence in the German market, complementing their existing offices in Berlin and Frankfurt. It also broadens Teneo’s financial advisory offerings throughout Europe.
Under its new identity as “Herter & Co – A Teneo company,” the firm’s founder, Herter, will continue to lead the business. The team will collaborate closely with Teneo’s financial advisory experts based in London, Paris, and New York.
Herter expressed his enthusiasm for this development, stating, “Having provided counsel on some of the most significant transactions in the German market, we are now ready to embark on the next phase and extend our global reach. We are delighted to become a part of the Teneo family.”
#4. Atwell acquires Utah-based Summit Engineering Group
Atwell, a prominent national design and engineering consulting company, has recently completed the acquisition of Summit Engineering Group, an engineering and surveying firm headquartered in Heber City, Utah.
Summit Engineering Group, established in 2001 and situated approximately 43 miles southeast of Salt Lake City, specializes in a range of services including civil and structural engineering, construction management and oversight, and land surveying. The firm boasts extensive expertise in various areas, including residential and commercial building projects, infrastructure development, and transmission line projects.
This strategic acquisition by Atwell marks the expansion of their geographical footprint into the state of Utah. Atwell, headquartered in Southfield, Michigan, operates with a workforce of over 1,500 professionals spread across more than 35 offices nationwide.
Jeff French, the Vice President of Real Estate and Land Development at Atwell, expressed enthusiasm about this development, stating, “We eagerly anticipate collaborating with the accomplished Summit team and harnessing their decades of experience within their local community. The inclusion of Atwell in Utah allows us to broaden our national presence and offer an enhanced array of services to our valued clients.”
#5. DSS+ acquires ADS System Safety Consulting
Swiss-based DSS+, a consulting firm specializing in operational and workplace safety, has successfully completed the acquisition of ADS System Safety Consulting, which is headquartered in Baltimore.
ADS System Safety Consulting, established in 2011, specializes in providing risk-focused consulting services in the areas of system safety, system security, and fire and life safety. The firm’s client portfolio primarily includes public transportation, aerospace, and defense organizations such as the Maryland Transit Administration, Washington Metropolitan Area Transit Authority, and NASA.
This strategic acquisition by DSS+ is aimed at bolstering its capabilities in operational risk management. It will also serve to expand the company’s expertise in technical safety, security, and fire protection engineering.
Additionally, this move will diversify DSS+’s service offerings, enabling them to cater to a broader range of industries, including public transportation, aviation, space exploration, as well as autonomous and electric vehicle sectors.
#6. SLR acquires Vancouver-based Palmer Environmental Consulting Group
UK-based environmental and sustainability consultancy, SLR, has completed the acquisition of Palmer Environmental Consulting Group, headquartered in Vancouver, Canada.
Established in 2010, Palmer specializes in delivering environmental assessments, permitting, and geohazard analysis to clients operating in the mining, infrastructure, and land development sectors. The company boasts a workforce of approximately 100 professionals and maintains offices in both Vancouver and Oakville, Ontario.
SLR’s acquisition of Palmer marks a significant expansion of their presence in British Columbia and Ontario. SLR, with a global workforce exceeding 3,000 employees and a network of over 100 offices worldwide, including 18 offices in Canada, anticipates substantial benefits from integrating Palmer’s expertise into their operations.
Neil Penhall, CEO of SLR, commented on the acquisition, stating, “Palmer holds a prominent position in Canada as a leading ecological and environmental consultancy, offering invaluable support to clients in the mining and built environment sectors, enabling positive outcomes.
Their wealth of expertise will complement SLR’s existing environmental capabilities, culminating in the formation of one of the most extensive environmental teams in Canada. This alignment further reinforces our commitment to facilitating sustainability initiatives for our clients.”
#7. Score Consulting joins consulting and technology group Conclusion
Conclusion, a consulting and technology services group headquartered in the Netherlands, has successfully acquired Score Consulting, a Portugal-based IT consultancy firm.
Established in 2005 in Lisbon, Score Consulting specializes in SAP transformations and operates with a dedicated team of 145 professionals. Their services encompass the entire spectrum of SAP solutions, from design and implementation to ongoing support. In addition to their SAP expertise, Score Consulting is well-versed in cutting-edge technologies, including robotic process automation and advanced analytics.
Pedro Deusdado, the director of Score Consulting, expressed his enthusiasm about the merger with Conclusion, stating, “Our aspiration is to become a significant player in the Portuguese market. We are confident that our partnership with Conclusion will significantly enhance our ability to sustain the consistent growth we’ve experienced in recent years.”
He went on to explain, “Conclusion’s expansive ecosystem will expand our service offerings and expertise, enabling us to provide our clients with even more comprehensive solutions.”
#8. Cedar White Bradley expands into Africa with Hahn & Hahn
Following its recent merger with Europe’s Petosevic, Dubai-based law firm Cedar White Bradley (CWB) has expanded its footprint into Africa by acquiring the South African legal counterpart, Hahn & Hahn.
Established in 2006 and headquartered in Dubai, Cedar White Bradley, or CWB, is a professional services firm specializing in intellectual property services. The firm provides comprehensive support to its clients, including services related to trademarks, copyright, patents, anti-counterfeiting, and various other legal aspects connected to the protection of intellectual property.
Backed by Gulf Capital, a prominent investor headquartered in the GCC region with assets exceeding $2.4 billion, CWB has embarked on a strategic growth initiative, aiming to become a global player. This journey began in February with the merger with Petosevic, and the addition of Hahn & Hahn, based in Pretoria, is another significant step in this expansion effort.
Closing Thoughts
The consulting industry has been anything but dull this week, with a flurry of mergers and acquisitions taking place. It’s clear that there is a lot of excitement in the air, with many companies jostling for position in this rapidly evolving landscape.
As always, we’re keeping an eye on the latest developments and we’re excited to see how these changes will play out in the coming weeks. We welcome your input and insights, so please don’t hesitate to reach out to us if you have any insider knowledge on the latest deals.
For now, we’ll be signing off, but stay tuned for more updates next week!
