Colorado-based Richey May acquires two IT consultancies

25 October 2018 Consulting.us

Denver area-headquartered accounting and consulting firm Richey May has acquired two IT consultancies – Arrow Partnership and Corporate Blue – to bolster its recently launched technology division. Arrow Partnership provides a range of management and IT consulting services, while Corporate Blue specializes in cybersecurity and managed IT services.

Founded in 1985, Richey May provides assurance, tax, and business consulting services to primarily financial services and real estate clients in the Greater Denver Area, and in the wider US. The firm is headquartered in the Denver suburb of Englewood, CO, with additional offices in Matthews, NC, and in the Cayman Islands.

Within its business consulting division, the firm offers advisory support in mergers and acquisitions, operations, and finances. Richey May also offers a raft of technology consulting services, including IT management, cybersecurity, risk and compliance, cloud transformations, marketing tech, and managed IT services.

The fast-growing accounting and consulting firm has now expanded its existing technology services capabilities with the acquisition of two IT consultancies. The transaction will see Denver-based Arrow Partnership and SoCal-based Corporate Blue join the firm’s recently launched Richey May Technology Solutions division.

 

Colorado-based Richey May acquires two IT consultancies

Founded in 2003, Arrow Partnership is a nationwide provider of management and IT consulting services, with deep skills in tech management, risk and compliance, security consulting, and digital marketing. Arrow’s managing partner Chan Pollock will become executive director of Richey May’s technology practice, while senior practice leader Garry Woods will head the acquiring firm’s governance, risk, and controls practice.

“I’m thrilled to be joining Richey May and have been extremely impressed with their capabilities and dedication to helping business leaders run more efficient, profitable and secure businesses,” said Pollock. “I look forward to leading the firm’s technology management consulting practice and working directly with clients to ensure they receive the highest level of expertise.”

Corporate Blue, meanwhile, provides increasingly in-demand cybersecurity services – an issue which is increasingly top-of-mind among business executives. In addition to broad IT security and cloud security offerings, the company also provides virtual chief information security officer services, as well as managed IT services. Corporate Blue CEO Mike Wiley will join Richey May as a director in the cybersecurity practice.

“In this day and age, strategic IT decisions are a cornerstone of any company’s financial health and potential for growth,” said Wylie. “I am delighted to join Richey May, a company firmly committed to helping companies leverage technology wisely to achieve their goals.”

In an era where companies are increasingly looking to digital transformations to keep up with their competitors – while seeking to secure their digitalizations – it makes plenty of sense that consultancies are beefing up their technological capabilities. With big money to be made in the digital consulting arena, the Big Four firms are shifting more resources to consulting (especially digital), with consulting revenues threatening to supersede the traditional audit and tax functions. Smaller firms are likewise following where the money and prevailing business trends lead them.

“As the demand for strategic IT planning and compliance intensifies, these acquisitions will ensure we are able to meet the needs of our clients for years to come,” commented Ken Richey, founding partner of Richey May.

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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.