Greetings and welcome to another thrilling week of consulting M&A updates! This week has been abuzz with noteworthy developments in the consulting M&A landscape. Major players like Deloitte have been busy making intriguing acquisitions, while other prominent companies like Renovus Capital Partners and MNP have also made significant purchases.
Buckle up and prepare to delve into the exciting realm of consulting M&A as we bring you closer to the latest happenings in this dynamic industry. Let’s dive right in!
#1. Deloitte snaps up product life-cycle management specialist d-twin
Deloitte has made an undisclosed acquisition of d-twin, a Melbourne-based specialist in product life-cycle management. The acquisition will include a team of 18, including five directors, who are set to join Deloitte later this month.
Founded by Godsell in 2014, d-twin initially operated from Melbourne and has since expanded to include team members in Sydney, Brisbane, and Canberra. The company is known for providing cost-effective and low-risk delivery of Siemens-enabled PLM solutions, facilitating seamless collaboration across organizations.
With this strategic move, Deloitte aims to bolster its presence in the Australian market, particularly in the specialized PLM segment. This acquisition positions Deloitte as the largest provider in the country, offering comprehensive consultancy, implementation, and embedded support services in the PLM domain.
#2. Renovus Capital Partners expands legal services portfolio with KP Labs
Philadelphia-based private equity firm, Renovus Capital Partners, known for its specialization in the knowledge sector, continues to expand its legal sector consulting portfolio through a strategic investment in Keesal Propulsion Labs (KP Labs).
Originally a division of the San Francisco law firm Keesal, Young & Logan, KP Labs became an independent IT consultancy in 2018. The company’s primary focus lies in providing expert guidance to legal departments and law firms on matters related to contracts intelligence, business process and workflow automation, as well as data visualization and analytics.
In an exciting development, KP Labs will now join forces with HBR + LAC + Wilson Allen, a trio of Renovus-backed consultancies with a shared legal focus, as they prepare to merge into a unified brand later this year.
The collaboration between KP Labs and HBR is expected to lead to improved services, the exploration of new growth opportunities, and the pursuit of operational excellence in catering to their valued legal sector clients.
#3. MNP purchases Vancouver accountancy Strategex
MNP, a prominent accounting and consulting firm operating on a national scale, has successfully completed the acquisition of Strategex, a well-established accounting and consulting firm based in Vancouver.
Established back in 2002, Strategex has built a strong reputation for delivering top-notch services in accounting and assurance, business advisory, Canadian and US income tax, estate planning, and specialized entertainment and film industry services. Their comprehensive advisory offerings encompass crucial areas such as succession planning, business expansion, financing, exit strategies, third-party negotiations, and divorce-related tax support.
The Strategex team will continue operating from their current location at 900 West Hastings Street, while collaborating closely with MNP’s existing teams in Vancouver. This strategic move is set to bring forth new opportunities and strengthened capabilities to serve clients even more effectively in the region.
#4. Sustainability consultancy Nexio Projects kicks off next growth phase
Nexio Projects, an international sustainability consultancy, has secured new funding to propel the firm into its next phase of expansion.
Established almost six years ago, Nexio Projects has experienced remarkable growth, now boasting a team of 50 professionals spread across offices in the Netherlands, Belgium, and France. Their primary focus lies in assisting clients in developing decarbonization strategies, reducing their carbon footprint, implementing sustainable practices, and achieving broader Environmental, Social, and Governance (ESG) impact.
The investor backing Nexio Projects is Torqx Capital Partners, a Netherlands-based private equity group that concentrates on mid-market investments.
The managing partner and Chief Investment Officer of Torqx, commended Nexio Projects for its outstanding business performance and exceptional team, which operates in a market poised for substantial future expansion.
According to his analysis, the sustainability consulting market is projected to maintain consistent double-digit growth in the upcoming years, creating promising opportunities for specialized consultancies like Nexio Projects.
#5. B. Riley acquires Detroit-based Crawford & Winiarski
Riley, a financial services company based in Los Angeles, has snapped up Crawford & Winiarski, a forensic accounting and litigation consulting company in Detroit.
Crawford & Winiarski, founded in 2001, offers accounting, financial and economic consulting, and damages analysis services for commercial disputes, financial fraud investigations, business valuations, and corporate insolvencies. Additionally, the company provides consulting services for data management, transactional database analysis initiatives, and the evaluation of representations and warranties insurance (RWI) claims.
The acquisition of Crawford & Winiarski by B. Riley will bolster its financial consulting division and add a litigation support and forensics practice in Detroit. Moreover, Rod Crawford and Bob Winiarski, along with their team, will join B. Riley.
#6. Marsh McLennan Agency acquires Integrity HR
Marsh McLennan Agency, a subsidiary of Marsh McLennan (which is an insurance broking subsidiary), has successfully completed the acquisition of Integrity HR, a reputable human resources consultancy based in Louisville, KY.
Established in 2007, Integrity HR specializes in assisting midsize nonprofits, private equity portfolio firms, family-owned businesses, and government clients with various HR solutions. Their wide range of services encompasses talent acquisition, HR assessments and strategy, HR project management, HR outsourcing, total rewards, training and development, as well as diversity, equity, and inclusion initiatives.
This strategic acquisition is set to significantly enhance Marsh McLennan Agency’s employee health and benefits division. By integrating Integrity HR’s expertise, the company will now be equipped with additional HR capabilities, including executive succession planning, compensation consulting, and talent acquisition services.
#7. Avenue Z Network buys Miami PR firm Bevel
Miami-based communications and digital media company, Avenue Z Network, has recently completed the acquisition of Bevel, a prominent communications consultancy in Miami specializing in tech and venture capital clientele.
Bevel, established in 2017, excels in offering expert advice to both private and public companies in various areas, including digital and traditional media relations, crisis communications, reputation management, content creation, media training, event management, and design services.
Over the years, Bevel has fostered successful partnerships with several notable clients, including Better.com, Clocktower Technology Ventures, Public.com, and the Sundance Film Festival.
Avenue Z Network has positioned itself as a key player in the industry. Their core services encompass PR and media relations, SEO and content marketing, design and development, social media management, and paid media campaigns. The firm is committed to continuous growth and expansion. Their ongoing pursuit involves strategic acquisitions in the realms of digital marketing, branding, analytics, and technology.
#8. Geelong-based advisory firm ProAdvice joins Moore
Moore, an accounting and consulting network, has successfully acquired ProAdvice, an advisory firm based in Geelong. ProAdvice boasts a highly skilled team of over 30 professionals.
Founded in 1990 with a focus on the agriculture sector, ProAdvice’s services have since expanded to encompass strategic consulting and accounting for a diverse range of industries. These include sports & recreation, building, travel, healthcare, and retail sectors. The decision to bring ProAdvice into the network was influenced not only by their excellent cultural alignment but also by their strong regional presence and specialized portfolio, particularly in agribusiness services.
This strategic move is expected to yield immediate benefits for the company’s clients. City-based clients will gain access to a broader range of regional expertise and capabilities. On the other hand, regional businesses will now have the opportunity to leverage Moore’s strengths in the capital city, such as financial planning services, debt advisory, governance and risk consulting, tax advisory, as well as audit and assurance services.
#9. Cybersecurity consultancy ThreeTwoFour joins Node4
Node4, a digital transformation firm, has acquired ThreeTwoFour, a specialist in security and technology risk, for an undisclosed sum. This marks Node4’s third acquisition within a span of 18 months.
Originally known as ‘The 324 Consultancy,’ ThreeTwoFour was established in 2019 by founders Alex Coburn, Sara Ng, and Oli Johnson. The firm has been operating as a boutique consulting company, focusing on cyber risk management and cyber security. Over the years, it has successfully provided advisory and program delivery services to clients in the financial services industry, thriving amidst the growing digital demands of the past four years.
The new name and digital identity aimed to reflect the firm’s mission of helping clients navigate their cyber security challenges while clearly conveying the value it offers to prospective customers. Now, in pursuit of expanding its global presence, ThreeTwoFour has joined forces with Node4, a cloud-led managed services provider headquartered in Derby.
With the addition of ThreeTwoFour, Node4 significantly bolsters its security and transformation capabilities, especially for enterprise-level clients. This expansion positions Node4 as an even stronger player in the digital transformation and managed services landscape.
Closing Thoughts
That concludes our coverage for this week! The consulting M&A landscape experienced notable developments this week, and we’ve kept you informed about all of them. If we happened to miss any of the M&A deals, don’t hesitate to reach out and inform us.
Stay tuned for more consulting M&A news next week. Until then, farewell!
