Consulting M&A Weekly Round-up (15th to 21st October, 2023)

It's that time of the week again, and I’m are excited to bring you the latest consulting M&A news. This week, Accenture has dominated the headlines with their latest moves. But, hold on tight! There have been other significant deals that have taken place in the industry as well.

As always, I’m here to bring you the most insightful information, so you are up-to-date with the latest happenings. The consulting world is always buzzing with activity, and I’m thrilled to be your go-to source for the industry's most prominent movements.

So, let us not waste any time and dive headfirst into this week's round-up!

#1. Accenture acquires creative consultancy The Storytellers

Accenture has completed the acquisition of The Storytellers, a dynamic change management consulting firm that collaborates with top-level executives to craft narratives and expedite transformative change.

Established in 2003, The Storytellers specializes in assisting corporate leaders in adopting a people-centric approach to instigate transformation and develop fresh business strategies. Over the years, the company has partnered with more than 200 clients, co-creating narratives that have played a pivotal role in realizing the advantages of organizational change.

Their expertise lies in combining the art of storytelling with facilitation, skills development, creative communication, as well as immersive digital and live event production, all aimed at aiding leaders in crafting and delivering compelling narratives that inspire and mobilize their colleagues and customers.

This strategic move is designed to bolster Accenture's creative consulting services, with a particular focus on harnessing the power of artificial intelligence for achieving optimized outcomes.

Furthermore, the skilled professionals from The Storytellers will be integrated into Accenture's talent organization and human potential practice, where they will continue to make a significant impact.

#2. APEM Group completes acquisition of Aspect Ecology

In the span of 24 months, APEM Group successfully completed its sixth acquisition, marking a significant milestone in its growth trajectory. With the addition of Aspect Ecology to its portfolio, APEM's workforce has now surpassed the 600-employee mark.

Aspect Ecology, a versatile consultancy, specializes in ecological, landscape planning, and arboriculture services. Their range of expertise encompasses guiding clients from the initial site acquisition phase, through the intricacies of planning and appeals, to the practical implementation of mitigation measures on the ground, which includes obtaining ecological licenses for protected species.

Leah McGimpsey, CEO of APEM Group, expressed her enthusiasm about this acquisition, stating, "Aspect Ecology brings an extensive wealth of knowledge in terrestrial ecology to our Group, complementing our already leading capabilities in the market and substantially augmenting our overall expertise.”

She further added, “This acquisition presents significant opportunities for further expansion into the infrastructure and built environment sector. As the demand for sustainable infrastructure continues to grow, Aspect's proficiency in assessing the biodiversity implications of developer plans and delivering solutions for Biodiversity Net Gain will greatly benefit our clients at APEM."

#3. Telstra Purple expands through Versent acquisition

Telstra, the prominent Australian telecommunications company, is bolstering its end-to-end business technology consulting division with the addition of Versent, a cloud specialist based in Melbourne.

Founded in Melbourne in 2014 by former NAB employees Thor Essman and James Coxon, along with former Deloitte manager Eddie Smith, Versent has steadily grown over the past decade. With a workforce exceeding 500 employees, the company has a significant presence not only in Australia but also in international locations such as Singapore and the United States.

Initially, Versent specialized in AWS (Amazon Web Services), but earlier this year, the company broadened its cloud services by forming a new partnership with Microsoft, building upon a prior agreement with Databricks.

Under the leadership of former AWS managing director Paul Migliorini, Versent has diversified its services across digital applications, data and insights, managed services, as well as identity and security solutions. This diversification has been instrumental in driving the company's impressive growth, resulting in a revenue of $130 million last year. This figure reflects a three-year compound annual growth rate of 17%, and Versent has ambitious expansion plans in motion.

The acquisition of Versent by Telstra is set to be finalized by the end of November. David Burns, the group executive of Telstra Enterprise, commented, "Through our global partnerships, extensive network infrastructure, and the expertise of our domain specialists, we are exceptionally well-positioned to deliver secure, large-scale technological transformations. Versent's addition will enhance our team of experts and enable us to meet the rising demand for specialized services."

#4. Trinity Consultants purchases Waid Environmental

Trinity Consultants, an environmental consulting firm based in Dallas, Texas, has completed the acquisition of Waid Environmental, an engineering and environmental services company headquartered in Austin.

Waid Environmental, established in 1978, boasts a team of 25 professionals spread across their offices in Austin and Houston. The firm is known for its expertise in air compliance and waste and wastewater management, offering a range of services such as permit and compliance strategy, regulatory analysis and reporting, air quality analysis, compliance audits and resolution, and training and education.

Trinity's acquisition of Waid is set to enhance its capabilities in the domains of air quality and environmental compliance within the state of Texas.

Shishir Mohan, the managing director of Trinity Consultants for the Gulf/South region, commented on the acquisition, stating, "Waid aligns with our vision and commitment to delivering outstanding project results. Their culture emphasizes responsiveness, quality, and value, ensuring that our team possesses the technical prowess and expertise required to swiftly tackle the most intricate environmental challenges."

#5. Harbor acquires Stout's legal management consulting practice

Harbor, a consulting firm specializing in the legal sector based in Chicago, has completed the acquisition of Stout's legal management consulting practice, an investment banking and advisory firm also located in Chicago.

In conjunction with this agreement, Jim Mitchell and Stacie Neeter, esteemed leaders of Stout's legal management consulting practice, will be welcomed into the Harbor team. Both Mitchell and Neeter boast over two decades of experience providing expert guidance to law firms and legal departments, particularly within the realms of energy, healthcare, life sciences, and financial services.

Moreover, this strategic transaction will enhance Harbor's capabilities, particularly in the areas of e-discovery and legal hold advisory and implementation. Previously, Harbor would direct its clients to Stout for these specific services.

Closing Thoughts

As I wrap up this week's consulting M&A news, I want to thank you for tuning in and staying informed. With so much happening in the industry, I’m committed to bringing you the latest updates so that you're always ahead of the curve.

But I’m only human, and as you know that there's always a chance that I might have missed a few deals. That's why I encourage you to reach out and let me know so that I can continue to provide you with the most comprehensive coverage possible.

Anyhow, I hope you found this week's read informative and engaging, and I can't wait to bring you more next week. Until then, stay curious and stay informed.