Oliver Wyman, a global management consulting firm and a business of Marsh McLennan [NYSE: MMC], announced today that it has entered into an agreement to acquire Avascent, an Aerospace and Defense (A&D) management consulting firm focused on the corporate and private equity sectors.
Avascent complements Oliver Wyman’s strong position and reputation across the aviation, aerospace and defense industry globally. For more than fifteen years, Avascent has been the preeminent specialist management consulting firm serving clients across aerospace, defense, and government sectors. Avascent is also the leading boutique private equity and M&A advisor in the A&D space and the combination of Avascent and Oliver Wyman will create a team with unparalleled experience in both deal and post-transaction work.
“Avascent will complement Oliver Wyman’s expertise, and strengthen it significantly in the Aerospace and Defense sector, both with our corporate and private equity clients,” said Nick Studer, President and CEO, Oliver Wyman. “The company also has a similar business focus – built on deep industry expertise, analytics, impact and collaboration – and we believe these values will benefit our clients.”
“We are excited to join Oliver Wyman, a company that shares both our dedication to deep sector expertise and an open, collaborative culture,” said Steve Irwin, Avascent President. “Joining Oliver Wyman gives us access to the breadth and depth of capabilities necessary to accelerate our growth by addressing the full spectrum of challenges faced by A&D leaders today.”
Avascent is based in the US, Canada, UK and France and with an extended network of clients and senior advisors around the world. A team of approximately 130 professionals, including 10 partners, will join Oliver Wyman and will be integrated into Oliver Wyman’s Transportation & Services and Private Capital practices.
The terms of the transaction were not disclosed. The deal is expected to close before the end of the year.
About Avascent
Avascent is the leading strategy consulting firm serving clients operating in government-driven markets. Working with corporate leaders and financial investors, Avascent delivers sophisticated, fact-based solutions in the areas of strategic growth, value capture, and mergers and acquisitions support. With deep sector expertise, analytically rigorous consulting methodologies, and a uniquely flexible service model, Avascent provides clients with the insights and advice they need to succeed in dynamic customer environments. To learn more about Avascent, visit avascent.com.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 6,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.
