Consulting M&A Weekly Round-up (2nd to 8th October, 2022)

by Laurent Thomas | Oct 10, 2022 | 0 comments

Welcome back to another weekly round-up of consulting M&A news. We’ve got lots to cover this week, including big acquisitions by Deloitte and Renoir Consulting. We’ll take a look at those deals and much more. So let’s get started!

#1. KordaMentha purchases financial crime boutique Murray Waldren Consulting

KordaMentha has improved their financial crime services with the addition of Murray Waldren Consulting, a small firm in Melbourne that specializes in fighting money laundering and counter-terrorist financing.

Murray Waldren Consulting, which was established in 2018 by Alice Saveneh-Murray and Rachel Waldren, offers consulting, training, and interim services to clients in the banking, casino, and regulatory industries. Moreover, the firm has offices in both Melbourne and Sydney.

The acquisition comes at a time of rising demand for financial crime compliance expertise, amidst mounting regulatory pressure from AUSTRAC and various governance crises affecting Australia’s largest banks and casinos.

#2. L Marks acquires innovation specialist The Inovo Group

L Marks, an innovation consulting firm based in London, has purchased The Inovo Group, an innovation consulting firm based in Ann Arbor, Michigan.

The Inovo Group, which was founded in 2001, utilizes scientific research and advanced analytics to assist technology-driven businesses in achieving strategic innovation success. The firm’s experts assist clients in identifying long-term growth prospects, experimenting with novel offerings and business models, and designing and constructing innovation systems.

The purchase of Inovo by L Marks will strengthen the British company’s presence in North America and increase its capacity for innovation. Moreover, the acquired company will assist clients in applying new decision-making techniques, restructure business models, and expand into new services, markets, and channels by forming the new Inovo Strategic Innovation segment at L Marks.

#3. Deloitte buys Sydney-based cyber boutique Hacktive

Deloitte, one of the Big Four consulting firms in the world, has acquired a cyber boutique firm Hacktive, which is based in Sydney, Australia.

The ten-person team at Hacktive primarily serves clients in the financial services, health care, utilities, retail, and government sectors. Chris Gatford and Keith Hazelwood, who founded the boutique in 2018, will join Deloitte as partners and principals, respectively, as part of the transaction.

Deloitte’s acquisition of Hacktive will immensely improve its current cyber practice, make it easier for them to offer managed cyber security services, and give their Cyber Intelligence Centre more tools to work with.

#4. Dempton Consulting Group buys Norton Staffing

Dempton Consulting Group, a digital consulting company located in Montreal, has purchased Norton Staffing Inc. (NSI), an information technology staffing organization situated in St. Louis, Missouri.

Norton Staffing was established in 2011 by Christina Norton to assist businesses in filling IT positions in areas like infrastructure, cloud computing, and cybersecurity. The company’s services include contract, right-to-hire, and direct-hire placement as well as customized benefit plans, talent management, onboarding, and sourcing strategies.

With the acquisition of Norton Staffing, Dempton Consulting will now have a stronger footprint and more options in North America. Moreover, the deal also sees Christina Norton join Dempton as a senior consulting advisor.

#5. Deloitte acquires AI consultancy SFL Scientific

SFL Scientific, a Boston-based consulting firm specializing in artificial intelligence strategy and data science, has been acquired by Deloitte US.

SFL Scientific, which was founded in 2015, offers CEOs understanding and evaluation of areas for AI investment as well as potential to alter their businesses. The company works with startups, government organizations, and S&P 100 firms to create, prototype, integrate, and manage AI systems.

Deloitte asserted that the acquisition of SFL Scientific will strengthen its position as an AI leader and enhance its capacity to deliver AI-driven client change.

#6. Renoir Consulting purchases ESG boutique consultancy in the UAE

Renoir Consulting, a global player, has expanded its capabilities in the Middle East and the ESG space with the acquisition of Dubai-based firm ESG Integrate.

ESG Integrate was established in 2020, and since then it has expanded into a consultancy with 5–10 specialists. Imad Alfadel, the founder and managing partner of ESG Integrate, stated that the firm serves corporations and institutional investors through their full ESG transformation journey, including research, strategy, implementation, and reporting services.

Speaking about the deal, the CEO of Renoir Consulting claimed that the purchase of ESG Integrate will enhance the firm’s skills and knowledge and will help the firm to offer its current and future clients, world-class execution of ESG strategies.

#7. Other consulting M&A deals

  • Intec Systems enters into employee ownership

Closing Thoughts

Thank you so much for reading! That wraps up our consulting M&A news for the week. If we missed out on any, then please write to us and let us know. We will be back again next week for another weekly consulting M&A round-up. So, until next time, its bye for now. Take care!