Consulting M&A Weekly Round-up (21st to 27th May, 2023)

by | May 29, 2023 | 0 comments

Welcome back to our weekly consulting M&A round-up. Unfortunately, this week has been relatively quiet in terms of mergers and acquisitions, with just two notable deals to report on.

However, even with the limited activity, it’s always worth taking a closer look. We’ll be examining both the Ankura and Hays purchases in detail. Though there may not be a long list of deals to discuss, we’re confident that we can provide you with valuable information on these two transactions. So, let’s get started.

#1. Ankura purchases sovereign debt advisor Newstate Partners

Ankura Consulting Group has acquired Newstate Partners, a London-based expert on sovereign debt. The transaction, which is for an unknown sum, takes place as government debt restructuring activity increases globally.

Since its inception in 2009, Newstate has become a globally respected name in the industry of sovereign debt expertise. In the past fourteen years, it has advised more than thirty governments and been retained by parties-in-interest in approximately fifty percent of the external sovereign bond restructurings undertaken. This includes numerous ongoing or recently concluded sovereign debt restructurings, including those in Sri Lanka, Zambia, Suriname, and Chad.

The acquisition of Newstate strengthens Ankura’s capacity to support governments with a vast array of solutions. The partnership will result in additional initiatives and has already strengthened a financial, reorganization advisory project for the Government of Puerto Rico. Newstate will gain access to new markets as part of a larger organization.

#2. Hays acquires diversity & inclusion specialist Vercida Consulting

Hays, a provider of HR services and recruitment, has acquired the majority of shares in the Vercida Group’s consulting division. Vercida Consulting will now be used by Hays to expand its advisory services for diversity, equity, and inclusion.

Hays is a personnel solutions and recruitment firm with over 13,000 employees operating in 255 offices across 33 countries. In the United Kingdom, Germany, and Australia, as well as Continental Europe, Latin America, and Asia, the group specializes in permanent, contract, and transient placements in the private and public sectors.

Vercida Consulting is an expert in DE&I leadership, assisting businesses in attracting diverse talent and fostering an inclusive culture. The acquisition of Vercida will enable Hays to engage in more in-depth dialogues with clients who view DE&I as a significant challenge and require a partner to assist them with improvement. As part of its advisory services line, Hays will promptly seek to leverage Vercida in this regard.

Vercida Consulting is currently focused on the British market, but it provides services in the United States and sections of Europe through a network of employees and associates. In the initial phase of the merger, it will be able to expand into target markets such as the United States, Australia and New Zealand, and Germany. Co-founder Dan Robertson will continue to serve as the Managing Director of Vercida while also leading the Diversity, Equity & Inclusion Advisory Service for external clients at Hays.

Closing Thoughts

And that’s a wrap to our weekly consulting M&A round-up. We hope that our coverage has been informative and helpful in keeping you up-to-date with the latest deals happening within the industry.

If there are any deals that we may have missed, please do not hesitate to contact us and let us know. We always welcome feedback from our readers and do our best to provide the most comprehensive coverage.

Until next time, stay tuned for another round-up next week. Thank you for tuning in, and have a great weekend!