Leading Nashville consultancy secures national presence with Ankura merger

23 May 2018 Consulting.us

Nashville’s leading management consulting firm has been acquired by a Washington DC-based business advisory. Terms of the acquisition – under which c3/consulting will join the growing Ankura Consulting Group – have not been disclosed.

Led by founder and CEO Beth Chase, c3/consulting has evolved into Nashville’s largest management consultancy since it was established in 2005. Courtesy of its Fortune 500 clientele and expansive consulting services offering, c3 is also among the ten biggest female-owned businesses in the mid-Tennessee area, recording $26 million revenue in 2016.

By merging with Ankura – a DC-based strategy and operations consulting firm – c3 will extend its expertise in healthcare, banking, insurance, technology and corporate services around the country. Meanwhile, with its latest merger, Ankura now boasts a headcount of 575 professionals dotted around 14 offices nationwide. Almost 120 team members will be former c3 consultants, who move to Ankura alongside the full senior leadership.

"We are excited to have Beth, her leadership team and the entire c3 family join Ankura's expanding roster of world-class professionals," said Ankura's Chief Executive Officer Roger Carlile. "Bringing this group of experienced change catalysts together with our experts expands Ankura's ability to deliver impactful, innovative, and customized solutions to our collective client base.”

“The combination of c3 and Ankura is another important step in our journey to build a unique business advisory firm defined by how we solve complex challenges that enable, optimize, protect, and sustain value for our clients," he added. 

Beth Chase,CEO - c3 consulting

Ms. Chase expressed her delight at the national reach her award-winning consultancy will possess as part of the Ankura team: "We started c3 over 12 years ago with the simple idea of creating a consulting firm dedicated to the people who make change happen,” she said.

“To think that the idea originally brought to life in my living room is today becoming part of a national consulting platform is humbling,” Chase added. “Joining Ankura will allow us to provide even greater opportunities for our team and increased value to our clients as part of a broader national platform, while we continue to be actively involved in the Nashville community."

 As for Ankura, the consulting firm’s growth has been rapid since its founding in 2014 and shows no sign of slowing down. A strategic growth commitment of $100 million from private equity giant Madison Dearborn Partners in 2016 helped the firm expand its offering to include financial and geopolitical risk advisory, restructuring and litigation support, and forensic accounting and valuation services, among others.

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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.