We’re back with another weekly round-up of the latest news on mergers and acquisitions in the consulting industry. Each week, we take a close look at all the deals that were made during the week with regard to M&A in consulting. Some noteworthy transactions occurred during this week, so let’s have a look!
#1. Edge Environment adds creative flair to its mix with Goodness deal
After around two years of collaboration, the sustainability consulting firm Edge Environment and impact agency Goodness are taking their relationship to the next level, with Goodness becoming a full subsidiary of Edge Environment.
Goodness, a boutique impact agency, closes its nine-year chapter of operating independently. Moreover, the purchase adds approximately five creative individuals to Edge Environment’s team in Australia, bringing the total workforce to around 90 in total.
With the acquisition of Goodness, Edge Environment will be able to help its clients better by adding creative work to its scientifically strong science, strategy, and story-telling. It will also help bring sustainability to life in all parts of a brand’s experience, from creating the brand and getting people involved to activating it and reporting on it.
#2. Avanade buys IT companies Kabel (Spain) and Asysco (Netherlands)
Avanade, a global IT services company, has grown its presence in Europe by buying two companies: Kabel in Spain and Asysco in the Netherlands.
The purchase of Kabel, which is the bigger of the two deals, brings almost 300 professionals from Madrid, Barcelona, Granada, and La Coruña to Avanade. On the other hand, Asysco’s 60-person team will join Avanade Azure’s legacy mainframe conversion center. This team will focus on European and North American clients globally.
Kabel, founded in 1995, is a significant IT consulting and services organization in Spain and a key Microsoft partner in the nation. On the other hand, Asysco is a specialized IT firm situated in the Dutch city of Coevorden that assists organizations with modernizing and replacing key legacy programs on mainframe systems.
The acquisition of Kabel will strengthen Avanade’s business across the entire spectrum of digital technologies, with a particular emphasis on data, cloud, software development, and applications. Meanwhile, Asysco’s technology and expertise will allow companies to move beyond the limitations and expense of legacy mainframe applications to cloud-based technologies from which they then can springboard to a full digital transformation.
#3. EY Consulting buys 450-strong Fabernovel
Ernst & Young has purchased Fabernovel, an innovation and digital transformation company established in France with a global presence. This deal is one of EY’s largest acquisitions in the past decade, adding over 450 employees to its teams in France (330 staff), China and Singapore (100 staff), and the United States (20 staff).
Fabernovel, founded in 2003, assists companies in inventing innovative products and services and bringing them to reality through a combination of creative, business consulting, and technology services. Furthermore, it serves clients in industries such as financial services, healthcare, energy, luxury, retail, life sciences, and telecommunications, and has a leading position in the platform economy segment, where it delivers projects at the forefront of developments.
The acquisition will see Fabernovel bolster EY’s customer-oriented innovation and digital transformation offerings. Moreover, their capabilities will be a major differentiator for accelerating growth as well as customers.
#4. Deloitte and EY buy BC tech consultancies
Big four companies Deloitte and Ernst & Young have both announced the acquisitions of British Columbia-based technology consulting firms. While Deloitte has acquired Striven, EY has acquired Freshworks Studio.
Striven, a technology testing and quality engineering company founded in 2014 and headquartered in Vancouver, primarily serves mid-market British Columbia clients in government, healthcare, insurance, fintech, and retail.
On the other hand, Freshworks Studio, which was founded in 2016 and headquartered in Kelowna, develops applications for healthcare and government clients. The company’s services include service design, UI/UX design, mobile app development, and web development.
Deloitte’s acquisition of Striven will see the firm add special value in terms of testing and quality engineering. On the other hand, Ernst & Young’s purchase of Freshworks Studio will expand its digital strategy, design, and development capabilities.
#5. JLL acquires New York-based Metropolitan Valuation Services
The commercial real estate services firm JLL has acquired the New York-based commercial real estate appraisal and consulting firm Metropolitan Valuation Services (MVS).
MVS was established in 2003 and offers appraisal, valuation, and consulting services for the core business district (CBD), multi-housing, suburban office, industrial/warehouse, and retail properties in the New York metropolitan area. Consulting services provided by the company include market and research studies, feasibility analyses, expert witness and litigation support, best use studies, and M&A advisory.
JLL’s acquisition of MVS will enhance its service for existing clients, strengthen multi-housing capabilities within the buoyant segment, and scale the firm’s footprint across the US.
#6. Churchill joins international management consultancy Sia Partners
Sia Partners, a French management consulting firm, has entered the Australian market by acquiring Churchill, a Perth-based firm with approximately 45 consultants and staff.
Churchill, founded in 2002 by David Prendiville and Todd Mairs, primarily serves the energy and mining industries, as well as major public sector clients in Western Australia. The company provides management, transformation, and project delivery services.
The deal will see Churchill enhance Sia Partners’ energy and mining practices, which account for approximately a quarter of its revenue.
#7. Other consulting M&A deals
- Ashfield and Huntsworth unite as life sciences consulting giant Inizio.
Closing Thoughts
This wraps up our weekly round-up of mergers and acquisitions news in consulting. Let us know if we missed out on any deals during the week gone by. Also, make sure to check back next week for another weekly round-up of merger and acquisition news from the consulting industry. Until then, farewell. See you soon!
