Consulting M&A Weekly Round-up (10th to 16th March, 2024)

We are back once again for another weekly round-up of consulting M&A news. There have been a fair number of deals that have been the talk of the town in the week gone by, and we’re here to take a closer look at them. Big names such as Roland Berger and Grant Thornton have spearheaded this round-up but there’s lots to delve into. So, let’s get started!

#1. Roland Berger completes acquisition of Amane Advisors

Roland Berger successfully finalized the acquisition of Amane Advisors, a specialized strategic consulting firm focusing on water, resource, and energy recovery.

Based in Oxford, UK, Amane Advisors boasts over 50 professionals and operates across seven global offices. Renowned for its expertise, the firm advises on over 100 strategic projects annually in water, waste, and energy recovery sectors, leveraging extensive industry knowledge and unique assets.

Stefan Schaible, Roland Berger's global managing partner, expressed enthusiasm about the addition, stating, "We warmly welcome the Amane Advisors team to the Roland Berger family. Their seasoned experts bring valuable industry experience and a robust network. Together, we look forward to delivering even more tailored and comprehensive solutions to our clients."

#2. Grant Thornton purchases Waters Meredith & Partners

Grant Thornton Canada has finalized the acquisition of Waters Meredith & Partners, an accounting and consulting firm based in Niagara Falls, ON.

Established in 1965, Waters Meredith specializes in providing accounting, tax, and consulting services primarily to owner-managed entrepreneurial organizations in the Niagara region. Their consulting portfolio includes business valuation, M&A, business succession and estate planning, financial planning, and software selection and implementation. With over a dozen employees, Waters Meredith has built a strong presence in the local market.

Under the terms of the acquisition, the Waters Meredith team will integrate into Grant Thornton’s St. Catharine’s office, with Patrick Tchang and Les Griffis assuming roles as partners.

Griffis expressed optimism about the acquisition, stating, "We are thrilled to offer our clients the best of both worlds: exceptional service from professionals who understand our clients and their businesses, supported by the experience, resources, and national reach of a leading firm."

#3. FTI Consulting acquires Madison Consulting Group

FTI Consulting, a prominent global management consulting firm, has successfully acquired Madison Consulting Group, an esteemed independent actuarial consulting firm with offices located in Madison, GA, and Newtown Square, PA.

Established in 1987, Madison specializes in providing a range of services including actuarial analysis, data collection, compliance reporting, and expert witness services to various entities including regulatory agencies, law firms, insurance companies, managing general agents, and self-insurance programs. With a team of 25 dedicated professionals, Madison has earned a reputation as a boutique consultancy delivering high-quality solutions.

This acquisition marks a significant expansion for FTI, particularly enhancing its capabilities in property and casualty actuarial services and compliance within its insurance services practice.

Mark Crawshaw, PhD, who serves as the president of Madison, will transition to FTI as a senior managing director. Additionally, Tina Knight, Leslie Marlo, and John Gleba will join FTI as managing directors, further bolstering the firm's expertise and capabilities in the actuarial consulting domain.

#4. Anthesis acquires sustainability reporting specialist BuzzWord

Anthesis, a sustainability consulting group, has disclosed its second acquisition of the year, acquiring the US-based sustainability reporting company BuzzWord for an undisclosed amount. This move comes as a response to the growing pressure on businesses to disclose their net zero targets amidst evolving regulations.

Stuart McLachlan, CEO of Anthesis, praised BuzzWord's exceptional approach to sustainability reporting, emphasizing their expertise in navigating regulatory landscapes, data-driven analysis, and transparent narratives. He welcomed Val and the BuzzWord team as valuable additions to Anthesis, highlighting their role in guiding clients through regulatory complexities towards meaningful stakeholder engagement.

This acquisition marks Anthesis' second M&A deal in 2024, following their merger with global purpose strategy specialist group Revolt in January. With businesses facing increasing scrutiny over their sustainability practices and urged not to 'greenwash,' the acquisition grants BuzzWord's clients access to Anthesis' comprehensive suite of advisory solutions, digital products, carbon project development, purpose-led communications, and organizational transformation strategies, leveraging the strengths of its global network.

#5. OHROS Consulting Group joins forces with AklysTransform

OHROS Consulting Group has bolstered its expertise in energy transition by forming an alliance with AklysTransform.

Renowned for its proficiency in asset management, OHROS Consulting Group has entered into a partnership with AklysTransform, spearheaded by energy transition authority Esmé Fantozzi.

Together, these firms aim to assist clients in navigating the challenges associated with transitioning to sustainable energy sources and decarbonizing asset management operations within the energy utilities sectors.

With a career spanning 25 years in the energy industry, Fantozzi brings a wealth of knowledge and experience to OHROS Consulting Group. Her professional journey includes leadership, operational, and innovation roles across various continents, including Europe, the Americas, the Middle East, and Asia.

After nearly two decades with a major independent oil company, Fantozzi established AklysTransform to support clients in energy and other industries facing challenges in decarbonization. The consultancy focuses on areas such as energy transition-driven strategy, risk mitigation, and the creation of new value streams.

Reflecting on her extensive operational background, Fantozzi emphasized the critical role of asset management in energy supply chains, particularly in the context of the energy transition. Through collaboration with OHROS Consulting Group, she aims to leverage her expertise to drive impactful transformations in asset management practices.

#6. MNP acquires BDG CPA in St-Hyacinthe, Quebec

MNP, a prominent national mid-market accounting and consulting firm, has completed the acquisition of BDG CPA Inc., a specialized accountancy boutique located in St-Hyacinthe, situated approximately 60 kilometers east of Montreal.

Led by partners Pierre Denoncourt and Serge Girouard, BDG CPA Inc. boasts a dedicated team of ten professionals. The firm provides tailored support to clients in the Montérégie region, with a particular emphasis on serving medical professionals.

BDG's service offerings encompass a wide range of areas including bookkeeping, tax planning and compliance, preparation of financial statements, estate and succession planning, business valuation, financial planning, and M&A advisory.

The integration of BDG into MNP will significantly fortify MNP's presence in St-Hyacinthe. Having initially entered the Quebec market in 2011, the Calgary-based firm has since expanded to comprise 1,300 team members and operates across 26 offices throughout the province.

Alain Caillé, regional managing partner for the Québec-Centre region, expressed enthusiasm about the acquisition, stating, "We are excited to welcome the BDG CPA Inc. team to our Firm. With over 70 partners and professionals now situated in Saint-Hyacinthe, a vibrant business hub, we are poised to enhance our support for our combined client bases and further strengthen our presence in the Montérégie marketplace."

Closing Thoughts

And this concludes our weekly round-up of consulting M&A news. If we happened to miss out of any deals, feel free to reach out and make it known. In the meantime, take care and we will see you all again next week with another weekly M&A round-up. Cheers!