Grant Thornton buys Philly-based life sciences consultancy TayganPoint

09 October 2018 Consulting.us

Chicago-headquartered Grant Thornton LLP has acquired TayganPoint Consulting Group, a Philadelphia-located healthcare and life-sciences consultancy. The deal will add about 70 consultants and five senior executives to the Grant Thornton’s Advisory Services Atlantic Coast division.

Since 2009, TayganPoint has been supporting healthcare and sciences industry companies with a wide range of management consulting services – including business strategy, change management, outsourcing, M&A, IT transformation, and R&D. The consultancy’s roster of high-profile clients includes Merck, Novo Nordisk, Johnson & Johnson, and the NHS, among others.

Now, the boutique consulting firm has been acquired by Grant Thornton, one of the largest accounting and consulting firms in the United States. The firm’s 59 offices generate annual revenues of $1.8 billion. The US company is part of the Grant Thornton International network, which has over 50,000 employees in 135 countries, generating $5 billion in annual revenues.Grant Thornton buys Philly-based life sciences consultancy TayganPointThe addition of TayganPoint will add scale to Grant Thornton’s Business Consulting practice, while bolstering the capabilities of the firm’s Atlantic Coast region. About 70 employees will join Grant Thornton, along with five senior executives.

TayganPoint co-founders Joy Taylor and John Cassimatis will join the leadership team at the Business Consulting practice; Taylor will become go-to-market leader, while Cassimatis will serve as life sciences industry leader. Meanwhile, senior execs Andrew Hunter, Joan Walker, and Amy Flynn will join Grant Thornton as managing directors.

“TayganPoint is a premier consulting firm in its space and shares our commitment to serving clients through quality, fresh thinking, and collaboration,” said Srikant Sastry, national managing principal of Advisory Services at Grant Thornton. “Together, Grant Thornton and TayganPoint will offer focused industry expertise, paired with Grant Thornton’s range of accounting and consulting offerings.”

Both parties agreed that they had good cultural congruency, something that is increasingly recognized as a critical element of successful post-merger integration.

“In getting to know the Grant Thornton team, we’ve been struck by the cultural and intellectual alignment between our organizations,” commented TayganPoint’s Joy Taylor. “The future is all about collaboration across our organizations to bring innovative solutions to clients.”

Related: Grant Thornton partners with Microsoft to bring AI to federal agencies

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OneDigital buys Northwestern Benefit in company's largest acquisition yet

11 April 2019 Consulting.us

Human resources and benefits consultancy OneDigital Health and Benefits has acquired Northwestern Benefit, the largest privately held benefits broker in Georgia.

Atlanta-based OneDigital has carried out an aggressive acquisition strategy in past years, completing 28 deals in 2018, as well as five in 2019 thus far. Its recent acquisitions have included consulting firms Paradigm Group, Cherry Creek Benefits, and Veritas Risk Services. OneDigital’s rapid expansion last year boosted annual revenue by $100 million in 2018, reaching $400 million.

OneDigital’s core offerings include strategic benefit advisory services, analytics, compliance support, human resources management technology, and insurance broking. The firm has more than 80 offices in the United States.

The consulting firm has continued its accelerated growth strategy with the purchase of benefits and HR consultancy Northwestern Benefit, which is also based in Atlanta. “This represents an exciting milestone for OneDigital, where our largest acquisition to date is also located right here in our home state of Georgia,” Adam Bruckman, CEO of OneDigital, said. “Northwestern lets us compete in the Atlanta benefits marketplace in an entirely new way.”OneDigital buys Northwestern Benefit in company's largest acquisition yetThe acquired firm was founded in 1996, and provides benefits, HR, compliance, wellness, education, and workforce planning advisory services to clients in George and across the US. Northwestern Benefit’s 150 employees will join OneDigital, bringing the firm’s headcount to over 1,600 employees, and its employer client count to approximately 50,000.

OneDigital’s chief growth officer, Mike Sullivan, highlighted Northwestern’s excellent sales culture and client service models as factors in the deal, while noting that the deal will significantly expand the firm’s middle market scale and capabilities. Sullivan expects more deals on the horizon, as OneDigital seeks to scale up further. “We expect north of 25 acquisitions again this year to bring us over the $500 million revenue threshold,” he said.

David Asbury, CEO of Northwestern Benefit, will join OneDigital as a senior managing principal. “As the benefits space continued to consolidate and we considered acquirers, it was incredibly important to me to find the right partner,” he said. “With OneDigital’s scale, reach and long-term vision, we knew our organizations would fit together and be stronger together right off the bat.”

As employment levels remain at record highs, employers are increasingly turning to effective and comprehensive benefits packages in order to attract and retain a dwindling pool of talent. HR and benefits firms help employers strategize the ideal benefits and compensation packages to get the talent they need, while doing so in the most cost-effective manner. “In a rapidly changing economy, an employer’s ability to attract and retain talent is often directly tied to the benefits they can provide, and OneDigital ensures we’re supplying our clients with the most robust health, wealth, and HR advisory services,” Bruckman said.