September 2017: Consulting M&A Update

By Ramone Param, Associate Director, Equiteq

Over September, we observed high-profile deals from prolific knowledge-intensive services acquirers across a variety of transforming spaces of the consulting market, including digital transformation, Salesforce consulting, real estate advisory, benefits consulting and traditional business consulting. In the last month, Equiteq advised four of its clients on the sale of their business to the practice of a larger group.

Selected Consulting M&A announced in September:

Note 1: Based on 2016 LFY Revenue

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August 2017: Consulting M&A Update

By Ramone Param, Associate Director, Equiteq

Accenture acquires marketing agency Wire Stone

Accenture acquired creative agency Wire Stone, which provides a range of strategy and marketing campaign services that develop digital consumer experiences. Wire Stone was founded in 2000 in San Francisco and has built a reputation for the use of technology and data to improve marketing campaign return on investment. The business has worked with a number of blue-chip clients including, Microsoft, HP, PayPal and eBay.

As highlighted in our latest quarterly M&A update, Accenture continues to be highly acquisitive and is developing Accenture Interactive’s capabilities and talent across marketing and consulting. According to a recent report by Adweek, Accenture Interactive’s projected 2017 revenue of $6bn places it above Havas Worldwide, although it is not a holding company and therefore does not rank among the “Big Six” of WPP, Omnicom, Publicis, Havas, IPG and Dentsu.

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Consulting Sector M&A Deals for week beginning 4th August

businessman doing handstand on the beachKPMG LLP (USA) acquired Workday Consulting Practice from AXIA Consulting, LLC (USA)
Deal Size: Unspecified Industry: IT consulting Date: August 2014
The acquisition strengthens KPMG’s capabilities around alliance partner, Workday, a provider of enterprise cloud applications for finance and human capital management. Adding AXIA’s Workday team to KPMG’s delivery capabilities further elevates the firm’s position as a leader in global business transformation enabled by Workday. Stephen Lis, KPMG’s U.S. leader for Management Consulting, commented on the acquisition, stating, “We are very pleased to welcome AXIA’s Workday consulting team members to the KPMG family. Their team has quickly become a ‘go-to’ partner for payroll, data conversion and integrations with Workday services, and we are looking forward to leveraging their expertise as we continue to bolster our strong position in the important Finance and HR Transformation market.” Stephen Chase, KPMG’s service line leader for Technology, added, “Adding the deep and focused IT experience of these professionals to our Enterprise Solutions practice significantly advances our ability to address clients’ technology enablement and enterprise transformation needs. In turn, AXIA’s Workday professionals now have access to the extended capabilities that KPMG provides to the Software-as-a-Service (SaaS) Enterprise Resource Planning marketplace.” Chase concluded, “We are happy to have them on board as we work with clients to successfully plan for, select, design, integrate, and implement SaaS-based solutions.” AXIA Consulting, LLC., a consulting company, provides technology and business consulting services to local middle-market and Fortune 500 companies, as well as government agencies. KPMG LLP provides assurance, tax, and financial advisory services.

Clif Bodiford CPAs (USA) merges practice into Scott and Company CPAs (USA)
Deal Size: Unspecified Industry: Management consulting / Strategy Date: August 2014
Columbia-based Clifton Bodiford CPA’s has merged its practice into Scott and Company LLC, and will operate under the Scott and Company brand, effective immediately. Former Founder and Bodiford CPA firm principal Clif Bodiford and Dave Bodiford both join Scott and Company under the terms of the deal. Both companies provide audit and assurance, tax and a range of consulting services to clients across the Southeast and internationally. “We have known and respected the Scott and Company leadership team for years, and we knew that our client service commitment, professionalism and cultures of the two firms were highly compatible,” said Clif Bodiford in announcing the merger. “Combined, we look forward to providing additional resources and capabilities to our clients while continuing to deliver exceptional accounting, tax and assurance services. We are excited about the depth and talents that the combined Scott and Company firm can offer.

CBRE Group, Inc. (USA) acquired CBRE | Louisville (USA)
Deal Size: Unspecified Industry: Management consulting / Strategy Date: August 2014
CBRE Group, Inc. announced that it has acquired CBRE | Louisville, a commercial real estate services firm that has served as CBRE’s affiliate in metropolitan Louisville, Kentucky and southern Indiana since 1996. CBRE | Louisville is one of the Louisville region’s leading providers of leasing, investment sales, property management and consulting services. The firm, led by Managing Director David Hardy and his partners, Kevin Grove and Robert Schwartz, has a staff of 34 and manages more than 10 million square feet in the region. Louisville is a growing business center in the Midwest, with a diversified economy that includes several Fortune 500 and many middle-market companies. Employment in the manufacturing and logistics sectors has been a strong growth driver in the region, along with the health care sector and the medical science industry, which has contributed significant advancements in both heart and hand surgery. Downtown Louisville continues to experience a strong growth period with numerous multi-million dollar construction and renovation projects under way. CBRE Group, Inc. operates as a commercial real estate services and investment company worldwide. Continue reading