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Blog posts tagged in Roland Berger

Posted by Khaled Kteily on in All About Consulting

The facts: 

Announced just a few hours ago, PwC is planning to purchase Booz & Company, pending a vote by Booz's 300 partners in December. For those of you who read our post two months ago - "Will mid-sized consulting firms exist in 2015?" this does not come as a huge shock, although at the time talks were focused on PwC acquiring Roland Berger. 

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How big is the acquisition?

According to the Financial Times, "Neither group would disclose the value of the transaction, though it is understood to be worth several times Booz’s $1bn of annual revenues, according to people familiar with the agreement."

For reference, PwC's Advisory revenues are about $9B, and Booz's revenues have recently been pegged between $1B and $1.4B, meaning that this is a fairly substantial acquisition. 
 
What does this mean for the industry?
 
Large consulting firms are increasingly pressured to provide 'complete services', which includes major strategic work. Historically, this has been the strength of strategically-focused firms such as McKinsey, BCG, Bain, Oliver Wyman, Monitor Group, etc. and represents an immediate new threat. Such firms might have beaten out Booz and PwC independently, but it will be increasingly difficult to compete against a firm that can provide both top-tier strategy consulting and large-scale transformational capabilities. 
 
The better question is: Who's next?
 
Check out our original article for some more background on potential acquisitions, relative sizes of firms, and our projections for what will happen. 

Posted by Khaled Kteily on in All About Consulting

b2ap3_thumbnail_Vault-Consulting-50.PNGOn November 7, 2012, Monitor Group's US subsidiary filed for bankruptcy and announced that Deloitte would acquire their global strategy practice. Monitor had between $100M and $500M of each assets and liabilities. On January 11, 2013, the deal went through for about $116M (according to The Economist). 

Monitor had a prestigious reputation as a boutique consulting firm with a tight-knit community and a strong collegial vibe. At Queen's University especially, it was not uncommon for candidates to turn down McKinsey, BCG, Bain and other firms to work at Monitor. 

Now let's talk numbers for a moment. How big was Monitor before the acquisition? Around $150M-$200M (my estimates could be a little off - please correct me if you have more accurate estimates). 

Posted by Khaled Kteily on in All About Consulting

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Many students in Canada don't know that Montreal used to be the economic powerhouse of Canada. It was only after fears that Quebec might secede, that many companies moved their offices to Toronto - today, the major consulting firms all have a presence in Toronto.  

As most McGill students know, the Montreal consulting space has been fairly limited to McKinsey, Oliver Wyman, Accenture, and Deloitte. Major firms like BCG, Bain, and Monitor simply didn't have any offices here. 

Interestingly, however, this has been changing. In 2012, BCG opened a new Montreal office, and ramped up recruiting in nearby universites (McGill, HEC, etc.). Just a few months ago, Roland Berger - historically a European-centric company - opened an office in Montreal as well. KPMG bought out the Montreal-based Secor. And the word is that other consulting firms growing their operations in the city (click through to read more).