Consulting M&A Weekly Round-up (31st to 6th January, 2024)

Following a brief one-week break, we are delighted to resume our weekly coverage of consulting M&A developments worldwide. As we embark on a new year, we anticipate reaching greater heights and embracing renewed optimism.

The past week has witnessed noteworthy shifts in the M&A landscape, and we are here to dissect and present them to you. Leading the charge this week are prominent players such as Oliver Wyman, Roland Berger, Alvarez & Marsal, and several others. Without further delay, let's delve into the latest updates.

#1. Oliver Wyman purchases SeaTec Consulting

Oliver Wyman, a leading global management consultancy, has reached an agreement to acquire SeaTec Consulting, a company based in Atlanta that specializes in providing technical consulting services to the transportation, aerospace, and defense sectors.

Established in the year 2000, SeaTec offers a range of engineering, digital, and consulting services aimed at assisting clients in asset-intensive industries to address operational and technical challenges. The firm has expertise in various areas, including engineering services, systems engineering, operations, supply chain, safety and compliance, digital services, software development, and system integration.

As part of the acquisition, Oliver Wyman will integrate SeaTec into its Cavok division, which is dedicated to providing technical consulting and services for the global aviation, aerospace, and rail industries. The Cavok division was originally established in 2007 when Oliver Wyman acquired Cavok, a Dallas-based aviation services and consulting firm.

Brian Prentice, a partner at Oliver Wyman, expressed optimism about the collaboration, stating, "This combined team will enable Oliver Wyman, CAVOK, and SeaTec to continue to make a significant impact in operations, cost, reliability, and safety for the aviation, defense, and transportation industries."

#2. Roland Berger moves into water consulting with Amane Advisors acquisition

Roland Berger, a global consulting firm, has entered into an agreement to acquire Amane Advisors, a specialized strategy consultancy focusing on water, resource, and energy recovery.

With its headquarters in Oxford, UK, and approximately 50 professionals spread across seven offices worldwide, Amane Advisors serves a clientele comprising blue-chip companies, public organizations, and investors in the water industry across Europe and the Middle East.

The company has witnessed significant growth in North America, addressing the challenges posed by climate change and desertification in the world's largest consulting market.

Torsten Henzelmann, the head of the global regulated platform at Roland Berger, expressed enthusiasm about the collaboration, highlighting Amane Advisors' competitive edge derived from its extensive expertise, database, and proprietary knowledge assets in water and waste.

He emphasized the substantial growth the company has achieved over the years, meeting the rising demand for consultancy services in the water sector. The acquisition aims to bolster Roland Berger's capabilities in water consulting, positioning the firm as one of the major players in this domain.

Amane Advisors will seamlessly integrate into Roland Berger's dedicated water consultancy team, solidifying their position as a comprehensive and integrated entity in the field.

#3. Alvarez & Marsal adds boutique Toronto firm to infrastructure practice

Alvarez & Marsal, a management consulting firm headquartered in New York, has completed the acquisition of LQ Consulting and Management, a consultancy specializing in construction project management based in Toronto.

Established in 2012, LQ engages in projects across various sectors, including energy and utilities, mining and minerals, infrastructure, and manufacturing, with a global presence in diverse environments such as cold weather, tropical, arid, and remote regions. The firm provides a range of services, including project advisory and consulting, PMO, project management, project controls, procurement, and construction management.

As part of the acquisition, Pierre Légaré will assume the role of managing director and leader of Infra Canada at Alvarez & Marsal (A&M), joined by senior directors Arshya Qureshi and Gordon Lung.

Marcos Ganut, managing director and leader of A&M Infra, highlighted the strategic significance of this expansion, emphasizing A&M's dedication to a global approach. The addition of Pierre, Arshya, and Gordon further builds upon the recent growth initiatives undertaken by A&M in Australia, Chile, India, and a substantial expansion in the Middle East.

#4. DCI Consulting acquires Human Resource Specialties

DCI Consulting, a consultancy specializing in human resources risk management based in Washington, DC, has successfully completed the acquisition of Human Resource Specialties Inc. (HR Specialties), a boutique firm that specializes in consulting services for affirmative action plans.

Established in 1984, HR Specialties has been offering consulting services to employers and attorneys in the areas of affirmative action plan (AAP) preparation, OFCCP audit support, and pay equity analyses.

This acquisition marks another strategic move by DCI to enhance its expertise in affirmative action plan consulting. In 2023, DCI expanded its portfolio by acquiring Gerstco, a San Jose-based firm with expertise in AAP software and consulting.

#5. Opus swoops for restructuring firm SKSI

Opus Business Advisory Group has successfully acquired SKSI and its subsidiary MLM CPS, integrating the expertise of insolvency specialists into the specialized Opus Restructuring arm of the company.

Established in 2013 and headquartered in London, Opus Business Advisory Group is a renowned firm offering a spectrum of services, including restructuring, corporate finance, forensic accounting, turnaround, investment, and rescue planning, catering to clients throughout the UK. With a team of over 60 staff members, including more than 20 partners, the company is positioned as a leader in its field.

Amidst the anticipated resurgence of the restructuring market in 2024, Opus has finalized the acquisition of SKSI, encompassing the business and select assets. SKSI, a professional services company founded on providing insightful guidance and advice, specializes in navigating businesses through the dynamic economic landscape. Their focus lies in delivering targeted strategies to address issues impacting businesses, individuals, and finance.

Tim Dolder, a group partner at Opus, expressed his satisfaction with the transaction, stating, "We are delighted to have completed this acquisition and extend a warm welcome to the new team and clients joining the Opus Group. We eagerly anticipate our ongoing support for SKS Business Services clients and the development of a strategic partnership with them."

#6. Mazars and Forvis team up to challenge top-ten global market

In a significant development within the mid-market consolidation landscape, Mazars, the international accounting and consulting network, is collaborating with Forvis in the United States to establish a formidable new global contender, marking one of the most substantial recent mid-market consolidations.

Anticipated to take effect from June, this partnership between Mazars and Forvis is poised to reshape the global accounting and consulting revenue landscape. With a combined global revenue of $4.7 billion, the newly formed alliance, named Forvis Mazars, is positioned at the ninth spot in the international network rankings. This places them ahead of Baker Tilly and behind Crowe based on the current figures, potentially displacing HLB from the top ten.

Mazars, currently holding the 14th position globally, boasts a presence in approximately 100 countries with around 35,000 professionals, generating $3 billion in revenues over the past year. On the other hand, Forvis ranks as the 8th largest accounting and consulting firm in the US, contributing an additional $1.7 billion to the combined revenue.

The collaboration stems from Forvis' acquisition of Mazars' US branch. Despite this integration, both Mazars and Forvis will continue to be independently owned by their respective partnerships, maintaining their international alignment.

#7. Trinity Consultants acquires Valcoustics Canada

Trinity Consultants, an environmental consultancy headquartered in Dallas, has successfully acquired Valcoustics Canada, an acoustical engineering firm based in Toronto.

Established in 1954, Valcoustics specializes in providing acoustic engineering services related to residential land use planning, environmental compliance, and architectural applications.

The company's expertise encompasses a wide range of areas, including building noise and vibration, construction noise and vibration monitoring, wind turbine noise assessment and monitoring, theatre and studio acoustic design, and environmental noise and vibration studies.

Jim Perry, the managing director at Trinity Cerami, expressed enthusiasm about the acquisition, stating, "Valcoustics aligns with our commitment to assisting clients in discovering concealed acoustic and technical possibilities while pursuing pragmatic solutions. The company's stellar reputation, dedication to quality, and harmonious organizational structure will serve as a strategic asset to Trinity as we embark on the next phase of our growth plan."

Closing Thoughts

And that concludes our weekly update on consulting M&A news. If we missed out on any deals, then please write to use and make it know. Furthermore, join us again next week for another round of M&A news. Till next time, take care and stay safe. Cheers!