Consultant Mouchel today bought public sector management consultant Hedra for £50M.
The move doubles the size of Mouchel's management consultancy business and is the largest single transaction for the Group since the merger of Mouchel and Parkman in 2003.
Mouchel chief executive Richard Cuthbert said the acquisition marked a decisive step in the firm's transition from an engineering focused consultancy to a multi-disciplinary consulting and business services group.
"The acquisition gives scale and breadth to Mouchel’s position in the public sector and complements the acquisition of HBS last August," said Cuthbert.
"By merging Hedra with our existing management consultancy and project management practice, we move directly into the premier league in this area and strengthen our in-house capacity to deliver and transform single and multi-service outsourced contracts."
Hedra is a UK based independent management consultancies with clients predominantly in central and local government, but also in industries regulated by government and a wide range of public service agencies. Hedra acts as a strategic adviser and implementation partner, helping to establish policy and strategy initiatives in government departments and local authorities, while also working alongside clients to implement and embed technology-led change.
It is a privately owned business and has more than 200 employees, together with more than 400 active associates throughout the UK.
Mouchel’s management consultancy business was expanded through the acquisition of Hornagold and Hills in November 2006 and currently employs around 250 staff. The new business will therefore employ nearly 500 staff. It will be led by Hedra chief executive Mark Campbell, who will join Mouchel’s Group Management Board. Lynton Barker, chairman of Hedra, will also be joining Mouchel in a strategic role.