Consulting Sector M&A Deals for week beginning 23rd February

businessman doing handstand on the beachNavigant Healthcare Cymetrix Corporation (USA) acquired RevenueMed, Inc. (USA)
Deal Size: $26 million Industry: Healthcare IT consulting Date: February 2015
Navigant announced that it has acquired RevenueMed, an Atlanta-based provider of coding, revenue cycle management, and business process management services for the healthcare sector. The acquisition further strengthens Navigant’s position as a leading provider of end-to-end revenue cycle business process management services and expands the Company’s platform to include global, offshore capabilities for its clients. RevenueMed has developed several proprietary software and process tools to support financial and back-office operations of healthcare providers and leverages a wholly-owned delivery network in India to operate as an extension of the client’s business office. The company appeared for six consecutive years on Inc. Magazine’s list of Fastest Growing Private Companies in the United States. “We are delighted to announce the addition of RevenueMed, which augments our business process management client offerings and further positions Navigant for long-term, sustainable growth,” stated Julie Howard, Navigant Chairman and Chief Executive Officer. “Our continued investment in business process management services builds on and complements our deep consulting expertise. The addition of RevenueMed provides greater scalability in a fast growing sector to support our revenue and profitability growth goals. We welcome the RevenueMed team to Navigant.” “The Healthcare sector is facing unprecedented pressure as it navigates growing complexities while delivering better outcomes and value to patients,” said David Zito, Managing Director and Navigant Healthcare segment leader. “As we assist health systems to position themselves for the future amidst market and regulatory changes, we expect continued high demand for business process solutions. Our clients are focused on optimising operational efficiencies and we look forward to working with them to develop solutions that focus on delivering quality care and better patient outcomes in an environment of declining reimbursement.” Navigant Healthcare Cymetrix provides revenue cycle management solutions, consulting services, and proprietary business intelligence to hospitals, healthcare networks, and hospital-affiliated physician practices in the United States. RevenueMed, Inc. provides healthcare revenue cycle solutions to the healthcare market in the United States.

Porter Keadle Moore, LLP (USA) merged with Holbrook Hicks and Associates (USA)
Deal Size: Unspecified Industry: Financial advisory Date: February 2015
Porter Keadle Moore accounting firm (PKM) has merged in the CPA firm Holbrook Hicks and Associates, LLC. The move adds six people to PKM, including Veronica Hicks, who will arrive as Partner. It also establishes a second location for the firm. “This merger is an excellent fit,” said PKM Managing Partner Phil Moore. “It strengthens our audit, tax preparation and executive consulting services, as well as our small business outreach. It gives Veronica’s clients a wider array of service offerings, while the associates at her firm will receive more resources and potential for professional growth.” Holbrook Hicks serves clients in a variety of closely-held business sectors including insurance, employee benefit plans and manufacturing as well as service industries and nonprofit organisations. Hick also has a strong background in governmental accounting. Porter Keadle Moore, LLP (PKM) offers auditing and accounting services. The firm provides tax auditing, compliance, management consulting, and risk advisory services.

Aronson LLC (USA) acquired Washington Management Group, Inc. (USA)
Deal Size: Unspecified Industry: Business consulting Date: February 2015
Aronson LLC, a nationally ranked top 100 accounting and consulting firm announced that it has acquired the GSA Schedule consulting business of Deltek’s Washington Management Group (WMG). This acquisition positions Aronson as the leading full service GSA Schedule consulting practice in the nation. An official Deltek partner since 2002, Aronson’s Government Contract Services Group provides a full range of accounting and business solutions for government contractors, including Deltek implementations, financial and contract compliance, business system adequacy and Cognizant/OIG audit support. Jeffery Capron, Aronson’s managing partner, commented on the transaction, “The acquisition strengthens the longstanding partnership between Aronson and Deltek. It allows both companies to focus on their core capabilities in the government contracting market and continue to provide unparalleled service to clients.” Aronson’s GSA Schedule practice is led by Hope Lane, a partner with more than 20 years of experience in the industry. Aronson serves a wide range of clients, from small contractors to Fortune 500 companies across the country, and provides a complete range of support that includes identifying, obtaining and maintaining GSA Schedule contracts, as well as resolving complex compliance issues. This transaction will accomplish several key objectives: Offer WMG clients access to expanded service capabilities to solve their most challenging business issues; Expand and extend Aronson’s team of government contract experts; Further position Aronson as a full service solutions provider to companies that do business with the federal government. Washington Management Group, Inc. provides general services administration (GSA) and veterans’ affairs (VA) schedule contract consulting services in the United States. Aronson LLC provides accounting and consulting services to nonprofit associations, real estate developers, technology, and wholesale and retail companies.

LW Marketing and Consulting, LLC (USA) acquired CHP Advertising (USA)
Deal Size: Unspecified Industry: Marketing consulting Date: February 2015
LW Marketing has announced their acquisition of CHP Advertising, bringing together two companies that can offer the highest quality and most diversified strategic marketing services available, both locally and nationally. Now, both LW Marketing and CHP’s existing clients can benefit from the top-notch marketing services that LW Marketing and Consulting has always provided, combined with CHP Advertising’s specific skill set, including graphic design, logo creation, website development, and various print media. “Since LW Marketing began the initial integration of CHP Advertising into our operations in July of 2014, the atmosphere has been electric,” said Palma Frable, Marketing Manager of LW Marketing. “We are looking toward the bright future and the merging of these two similar yet markedly different companies. We are now better equipped than ever to handle a broader set of needs for our current and prospective clients.” LW Marketing, combined with CHP Advertising, has been able to expand their offerings and range of capabilities. As a result, LW Marketing now provides more services to their clients than ever, including SEO and channel marketing. LW Marketing has always been in the business of finding the right marketing solutions for their clients and, with the knowledge and experience that the CHP Advertising team brings with them they are only getting better. Current House Productions LLC operates as a graphics advertising design agency. The company engages in graphic design, logo creation, Website design and development, print collateral, Internet hosting solutions, Website domain registrations, marketing and advertising consulting, and more. LW Marketing and Consulting, LLC provides marketing services in Southwest Florida.

CTLGroup (USA) acquired Williams Building Diagnostics (USA)
Deal Size: Unspecified Industry: Engineering consulting Date: February 2015
CTLGroup, the internationally-recognised consulting and testing firm, has completed its acquisition of Williams Building Diagnostics, an architectural consulting firm with over 25 years of expertise in building enclosure services. WBD has operations in Bradenton, FL and Philadelphia, PA. Its capabilities include the evaluation of building performance issue and innovative moisture management solutions that enhance the durability of commercial, institutional and residential buildings. “We’re excited to welcome Williams Building Diagnostics to the CTLGroup family,” said Dr. Brent Nixon, President and CEO of CTLGroup. “Their extensive portfolio of building enclosure solutions combined with CTLGroup’s 99-year legacy in engineering, architecture, and materials science will enhance the combined firms’ ability to meet our clients’ diverse needs.” Construction Technology Laboratories, Inc., doing business as CTLGroup, provides engineering and scientific services. It offers consulting services, including building science and sustainability, geotechnical services, litigation services, mass concrete consulting, materials consulting, nondestructive testing, pre-construction services, structural engineering and evaluation, and structural health monitoring.

Exigent Technology, Inc. (USA) acquired Information Architects (USA)
Deal Size: Unspecified Industry: IT consulting Date: February 2015
Exigent Technologies welcomed in the New Year with news of its first business merger. The New Jersey-based managed IT and cloud services company is pleased to announce it has acquired Information Architects, a Morris County, New Jersey-based IT services company specialising in systems integration, core platform technologies, managed services and virtualisation. “This strategic business agreement is a major marker in our company’s 18-year history and positions us to better serve our customers by broadening our expertise and creating more customer value for each technology dollar invested,” says Exigent President Dan Haurey. “We are honored to welcome Information Architects to the Exigent family and work as one team, under one roof and one brand, to meet our customers’ needs and forge new relationships with business owners and managers that view technology as a strategic asset within their organisations.” The merger strengthens and extends Exigent’s advanced technical expertise around custom IT solutions and enhances the firm’s cloud services and managed services portfolio by expanding its specialisations in disaster recovery, security, networking and virtualization. It also provides a more comprehensive service engagement model to Information Architects’ existing customers. Information Architects Inc. provides systems integration services. Exigent Technology, Inc., an intellectual property holding company, licenses and provides customised networks for the prepaid marketplace.

Becht Engineering Co., Inc. (USA) acquired CECON Group, Inc. (USA)
Deal Size: Unspecified Industry: Engineering consulting Date: February 2015
Becht Engineering Co., Inc., has announced that it has acquired The CECON Group, Inc. Becht Engineering provides engineering consulting services to the energy sector, including oil and gas production, refining, petrochemical, chemical, industrial gas, alternative energy, and fossil and nuclear power sectors. The company has twelve offices in the U.S. and Canada. CECON manages a network of science, engineering, and technical business consultants to provide consulting services to multiple industries and market sectors, including expert witnesses for legal firms. The company, which was started by DuPont retirees, has consultants located in 47 states and over 20 countries and is celebrating its 30th year in business. CECON, LLC is now a wholly owned subsidiary of Becht Engineering and continues to provide the same broad array of science and engineering services to its clients in multiple market sectors as before. “Both companies will be able to leverage the collective breadth and depth of their respective resources and market presence to provide enhanced technical services to their clients,” stated Dr. Charles Becht IV, President of Becht Engineering. Becht Engineering Co., Inc. provides engineering consulting and project/turnaround management services to the energy sector.

Strattam Capital, LLC (USA) to acquire majority stake in Trax Technologies, Inc. (USA)
Deal Size: Unspecified Industry: IT consulting Date: February 2015
Trax Technologies, Inc., the provider of a leading global logistics SaaS platform, announced that it has entered into a definitive agreement with Strattam Capital, LLC, a private equity firm focused on core enterprise information technology and services, under which Strattam will take a majority stake in the company. Strattam is investing in partnership with Trax’s current management team, led by Founder and CEO J. Scott Nelson. Strattam will buy a majority of Trax’s shares for an undisclosed price and provide an additional $10 million of growth capital to fund Trax’s strategic initiatives, including expansion of the company’s products and services. Nelson and the rest of Trax’s leadership team will remain in their current positions. “Capital Southwest and River Cities Capital Fund have been outstanding and supportive partners of Trax during the formative years of our business. Their early recognition of the potential and inherent value of the Trax offering has contributed to our strong growth, stability and customer success in the marketplace, and set the stage for the next stage in the business evolution of Trax Technologies,” said Brian McCarthy, Executive Chairman of Trax. “Strattam adds critical skills and capabilities to our team as we continue to build this extraordinary business.” Trax Technologies, Inc. provides a logistics data refinery that serves both buyers and sellers of logistics services. The company refines logistics data that comes from multiple sources. Through its SaaS technology platform, the company cleans, completes, and reconciles bad logistics data. Strattam Capital is a private equity investment firm specializing in growth buyouts.

TorQuest Partners, Inc. (Canada) acquired Envirosystems Incorporated (Canada)
Deal Size: Unspecified Industry: Environmental consulting Date: February 2015
TorQuest Partners announced that it has partnered with management and other co-investors to acquire a majority interest in Envirosystems Inc. from Thornridge Holdings Limited, a privately held investment firm. Headquartered in Dartmouth, Nova Scotia, Envirosystems is one of the fastest growing industrial services organisations in North America with over 1,000 employees in more than 40 locations throughout Canada and the United States. Eric Berke, Managing Partner at TorQuest said, “We are thrilled to partner with Mike Ryan, President and CEO of Envirosystems, and his highly experienced management team, and to support them in the next chapter of Envirosystems’ growth.” Mike Ryan said, “We are excited to be moving forward with TorQuest, to augment the continued commitment Thornridge Holdings has provided to Envirosystems. Thornridge gave me and my team the opportunity to participate as equity partners and now TorQuest will bring financial resources and business expertise, and a commitment to supporting our continued profitable growth, both organically and through acquisitions. They share our vision of becoming the North American leader in safety, quality and performance by investing in our people and ensuring innovative customer service.” TorQuest Partners, Inc. is a private equity firm. Envirosystems Incorporated provides various environmental, industrial, and robotic services and project management.

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