Marsh McLennan's Oliver Wyman Completes Avascent Acquisition

Rhea-AI Summary

On November 1, 2022, Oliver Wyman, a Marsh McLennan business, announced the acquisition of Avascent, a management consulting firm specializing in the Aerospace and Defense sector. This acquisition enhances Oliver Wyman's capabilities within the A&D market, leveraging Avascent's expertise in corporate and private equity consulting. The integration will involve around 130 Avascent professionals, including 10 partners, into Oliver Wyman's practices. The financial details of the transaction remain undisclosed.

Positive

• Acquisition of Avascent strengthens Oliver Wyman's position in the Aerospace and Defense sector.
• Integration of approximately 130 Avascent professionals enhances Oliver Wyman's capabilities in deal and post-transaction work.
• Avascent's focus on private equity and M&A adds strategic value to Oliver Wyman's service offerings.

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• None.

NEW YORK, Nov. 1, 2022 /PRNewswire/ -- Oliver Wyman, a global management consulting firm and a business of Marsh McLennan [NYSE: MMC], today announced the completion of the acquisition of 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.

"We are excited to have completed this deal and welcome our new colleagues to Oliver Wyman," said Nick Studer, President and CEO, Oliver Wyman. "Together we will greatly expand our expertise in the Aerospace and Defense sector with corporate and private equity clients."

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.

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.

 

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SOURCE Oliver Wyman

FAQ

What is the significance of the acquisition of Avascent by Oliver Wyman?

The acquisition enhances Oliver Wyman's expertise in the Aerospace and Defense sector, particularly in serving corporate and private equity clients.

When was the acquisition of Avascent completed?

The acquisition was completed on November 1, 2022.

How many professionals from Avascent are joining Oliver Wyman?

Approximately 130 professionals from Avascent, including 10 partners, are joining Oliver Wyman.

What will happen to Avascent post-acquisition?

Avascent will be integrated into Oliver Wyman's Transportation & Services and Private Capital practices.

What are the financial details of the Avascent acquisition?

The financial terms of the transaction were not disclosed.