Leading Nashville consultancy secures national presence with Ankura merger
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.
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.
