Düsseldorf: Strategy consulting firm Booz & Company made a striking declaration of intent this week with the acquisition of Germany's Management Engineers (ME).
The move strengthens both its global presence and implementation capacity.
Management Engineers, founded in 1978 and headquartered in Düsseldorf, will bring 17 partners and 145 staff to Booz & Company and a highly complementary market position and functional heritage--particularly in auto/industrials and operations consulting in Germany, but also in China, the UK, and the US.
"Management Engineers powerfully reinforces Booz & Company's industry expertise and functional depth in key markets globally, enabling our combined firm to deliver to clients the differentiated capabilities they need to outperform," said Cesare Mainardi, CEO of Booz & Company.
"And the fit between our two firms' cultures and strategies is superb. We are both well known as practical strategists who roll up our sleeves to get the job done working alongside our clients. From the first time we sat down with ME, it was clear we shared the same fundamental results-oriented philosophy."
The acquisition is subject to a number of closing conditions including the approval of Booz & Company's partners. Terms were not disclosed. Assuming all required approvals are obtained, the transaction is expected to close on April 2, 2013.
"This acquisition is strongly aligned with our continued growth ambitions in Europe, particularly in the key market of Germany, where Management Engineers is a widely admired 'Hidden Champion' among consultancies," said Klaus-Peter Gushurst, Managing Director of Germany, Switzerland, and Austria for Booz & Company.
"Together, we can offer our clients an unrivalled array of functional, industry, and implementation consulting services with a leading position in operations consulting."
"We established one of Germany's largest consultancy firms. Working together with our clients, our international orientation has grown steadily. Booz & Company is the perfect fit for us and enables us to strengthen and expand our consultancy approach and expertise globally," said Hanno Brandes and Helmut Surges, Managing Directors of Management Engineers.
"Among DAX companies and globally-oriented medium-sized companies in our market, ME and Booz & Company are both well known as practical strategists. We live by our motto Consulting to Completion and joining Booz & Company will allow us to realize that aspiration in more markets, across more industries, and with more clients. Our complementary cultures and capabilities allow us to exponentially increase our impact with clients from Day One."