Consulting M&A Weekly Round-up (3rd to 9th December, 2023)

In the ever-changing realm of consulting, each week brings forth a dynamic tapestry of strategic maneuvers, acquisitions, and collaborations that reshape the contours of the industry.

This week's narrative unfolds with a total of six distinctive deals, featuring notable transactions by companies such as Prime, Resolution Economics, Elite Consulting Partners, and others.

Within the constantly evolving chessboard of corporate strategy, these mergers and acquisitions stand as pivotal moves that hold the key to shaping the future of the consulting domain.

We invite you to join us as we peel back the layers of these deals, delving into the intricacies and implications that are poised to influence the consulting landscape in the weeks and months ahead.

Let’s dive in!

#1. Prime purchases healthcare communications firm Aventine Consulting

Prime Global Medical Communications, a healthcare communications consultancy headquartered in the UK, has completed the acquisition of Aventine Consulting, a consultancy based in Marblehead, MA, specializing in US-focused market access and payer communications.

Established in 2008, Aventine is dedicated to providing market access and reimbursement services that showcase a product's value to payers, facilitating product reimbursement. This boutique firm specializes in crafting dossiers and preapproval information exchange decks tailored for the payer audience.

Through the acquisition of Aventine, Prime aims to strengthen its existing evidence and access practice, while also establishing a significant presence in US market access to better serve its clients in the country. Prime currently maintains offices in New York and San Diego.

#2. Resolution Economics buys The Red Maple Group

Los Angeles-based economic consulting firm, Resolution Economics (ResEcon), has completed the acquisition of The Red Maple Group, an economic and financial consulting firm located in Oak Ridge, NJ.

Established in 2018 by Christopher Young, PhD, Red Maple specializes in providing economic analyses, reports, and expert testimony to attorneys across the United States. The firm's focus lies in litigation economics, offering forensic analysis, economic damage assessments, statistical research, and economic loss reports across various legal domains such as insurance defense, commercial business, trust and estate, family law, M&A, personal injury, and private business.

Moreover, Red Maple extends its services beyond litigation, offering expertise in valuations, public policy analysis, contract negotiations, data analytics, econometrics, and broader economic consulting.

ResEcon's strategic acquisition of Red Maple aims to enhance its capabilities in business valuation and CFO consulting within its financial advisory services (FAS) practice.

J. Duross O'Bryan, the head of ResEcon's FAS practice, expressed enthusiasm about the collaboration, stating, "Chris and his team bring significant experience in the valuation and damages areas to ResEcon. We are thrilled to welcome them to our team and anticipate a highly successful future together."

#3. Elite Consulting Partners snaps up Advisor Successions

Elite Consulting Partners, a firm specializing in financial services transition and business consulting, has successfully acquired Advisor Successions LLC.

Established in 2012 and headquartered in Port Jefferson, New York, Advisor Successions offers a range of services, including deal support and structuring, negotiations, purchase financing and lending options, valuation, and paperwork preparation.

To integrate Advisor Successions into its operations, Elite Consulting Partners will merge the newly acquired firm into its existing Elite Corporate Services division. This division currently provides guidance to broker-dealers, hybrid firms, and registered investment advisors (RIAs) on internal advisor hiring.

The resulting entity, named Elite Advisor Successions, aims to assist financial advisors in expanding and monetizing their practices through strategic acquisitions, whether they are acting as buyers or sellers. The platform is equipped with a proprietary evaluation process designed to optimize matching for acquisition and succession opportunities.

Frank LaRosa, CEO of Elite Consulting Partners and managing partner of Elite Advisor Successions, expressed excitement about this development, stating, "With the addition of Elite Advisor Successions to our Elite family of companies, we have reached a pivotal moment in our own growth trajectory as we continue to execute on our mission to provide cutting-edge, enhanced strategic opportunities for our advisor and firm clients alike."

#4. RAM Consulting acquires Pacific Safety

Vancouver-based project delivery and engineering firm, RAM Consulting, has successfully acquired Burnaby-based safety consulting firm, Pacific Safety.

Established in 1998, Pacific Safety has been a leader in occupational health and safety (OHS) services, focusing on reducing risk, preventing harm, and promoting workplace wellness for its clients. The firm's consulting division specializes in safety management system development, due diligence audits, hazard prevention program creation, and Covid-19 risk assessments, among other areas.

RAM Consulting's recent acquisition of Pacific Safety marks a strategic move to augment its capabilities, broaden its service offerings, and strengthen its position as a preferred provider of comprehensive project delivery services throughout North America. This development was communicated through a press release issued by the firm.

Moreover, the acquisition is expected to enhance RAM's presence in the aviation transportation sector, as Pacific Safety brings expertise in airside operations, including the supervision of contractor project safety at Vancouver Airport. Furthermore, the deal will fortify RAM's ability to deliver top-notch occupational health and safety services to its clients.

#5. Sikich acquires wealth management consultancy Golden Trail Advisers

Sikich, a firm specializing in accounting and consulting with its headquarters in Chicago, has reached an agreement to purchase Golden Trail Advisers, a wealth management consulting firm based in Chicago.

Established in 2010 by Mike Sedlak, Golden Trail offers a wide range of comprehensive wealth management services catering to individuals and business owners. The boutique firm's services encompass financial planning, investment management, estate advice, college funding, insurance analysis, retirement plans and 401(k), as well as business succession planning.

The acquisition of Golden Trail by Sikich aims to strengthen its wealth management practice, enhancing its capabilities in investment consulting, relationship management, and advanced planning.

#6. BPA expands to Toronto with acquisition of TMP

Montreal-based consulting engineering firm Bouthillette Parizeau (BPA) has successfully acquired The Mitchell Partnership (TMP), a consulting engineering firm based in Toronto.

Established in 1958, TMP specializes in providing mechanical engineering building services across various sectors, including commercial, high-rise, institutional, retail, and industrial. The firm's comprehensive design services encompass construction documentation production, contract administration, and field review for HVAC, plumbing, fire protection, and building management systems.

This strategic acquisition by Bouthillette Parizeau (BPA) marks a significant expansion into the Toronto market, enhancing its physical presence and fortifying its capabilities in institutional, commercial, multi-residential, and industrial building sectors.

Closing Thoughts

In conclusion, the recent flurry of strategic maneuvers, acquisitions, and collaborations within the consulting industry underscores its dynamic nature. These transformative deals by Prime, Resolution Economics, Elite Consulting Partners, RAM Consulting, Sikich, and BPA are pivotal moves shaping the future landscape.

As we explore the intricacies and implications of these transactions, it becomes evident that each deal holds the potential to redefine the consulting domain in the weeks and months ahead. The industry continues to evolve, propelled by these strategic decisions that will undoubtedly leave a lasting impact on its trajectory.

And lastly, if we missed out on any deals worth mentioning, then please write to us and make it known. So, until next week, its bye for now. We’ll be back again next week for another consulting M&A round-up.