| | Management Consulting
Group Plc (MCG) is to
acquire Atlanta-based
consulting firm Kurt
Salmon Associates (KSA)
for $125m, in line with
MCG's strategy to broaden
and deepen its consulting
offerings. The
acquisition adds an
international market
leader in consulting to
the consumer products and
retail sectors and a
strong health care
practice in the United
States to MCG’s roster of
specialist consultancies.
Rolf Stomberg,
chairman of MCG, said:
"KSA is a well managed
and profitable business | |
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| | with growing revenues. It
has a strong foothold in
the US, the world's
largest consulting
market, and a high
quality client base. The
combination of this
business with our
existing portfolio will
benefit all
stakeholders."
MCG said the deal
re-balances its mix of
revenues towards the
world's largest
consulting market, the
United States, following
its acquisition of Ineum
with its substantially
European business in
2006. Furthermore, the
acquisition increases | |
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| | MCG's Asian presence and
provides a platform for
further development in
growing markets.
MCG said the
acquisition, under which
it is paying $75m in
cash, funded through a
new debt facility, and
the remainder through the
issue of new shares,
would be earnings
enhancing by 2008.
KSA, which was founded
in 1935, operates through
two divisions: the
consumer products and
retail division and the
health care division. For
the year ended 31
December 2006 it reported
revenues of $153m.
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It has a network of
offices in North America:
Atlanta, Los Angeles,
Mexico City, Minneapolis,
New York, Philadelphia,
Princeton, San Bruno and
San Francisco; in four
countries in Europe
(France, Germany, the
Netherlands and the
United Kingdom); and in
two countries in Asia
(China and Japan). KSA
additionally has
collaboration
arrangements with
consultancies in India
and Spain.
The consultancy
employs approximately 550
people and was ranked as
one of the "Ten Best | |
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| | Consulting Firms to Work
For" by Consulting
Magazine in each of the
six years from 2002-2007.
MCG currently
comprises six specialist
consultancies: CBH
Consulting, which it
bought earlier this month
for £10.6m, Ineum
Consulting, Parson
Consulting, Proudfoot
Consulting, Salzer
Consulting and Viaduct
Consulting.
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