Shanghai, February 21, 2013—Booz & Company just announced that it has signed an agreement to acquire the international consulting firm Management Engineers (ME) headquartered in Düsseldorf, Germany. This esteemed consultancy 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.”
This acquisition, which is subject to a number of closing conditions including the approval of Booz & Company’s partners, will draw on strong synergies between the two firms in terms of clients, services, geographic coverage, capabilities, and culture. Assuming all required approvals are obtained, the transaction is expected to close on April 2, 2013.
“This 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.”
“The acquisition will also further strengthen our ability to help our clients in China and Asia translate strategy into execution and build the capabilities required to deliver profitable growth in these strategic markets,” added Sarah Butler,Booz & Company’s Managing Director in Greater China. “Management Engineers' industry and functional focus is fully aligned with our growth strategy in China. They have long-standing client relationships in the Automotive, Industrials, Manufacturing, Chemicals, Life Sciences, Consumer and Electronics sectors, and their functional capabilities powerfully reinforce our own leading capabilities in Fit for Growth℠, Supply Chain Management, Operations and Innovation. We are very excited about the opportunity for our combined partnerships to work collaboratively with our clients to deliver results.”
Hanno Brandes and Helmut Surges, Managing Directors of Management Engineers added, “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. 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.”
About Management Engineers
Management Engineers (ME) work as strategy and process consultants to renowned companies—from medium-sized firms with global aspirations to leading international corporations. Since its founding in 1978, ME has become one of the largest German-owned management consulting firms. ME have an established local presence – with offices in Europe, North and South America and Asia.
Strategy& is a global team of practical strategists committed to helping you seize essential advantage. We do that by working alongside you to solve your toughest problems and helping you capture your greatest opportunities. We bring 100 years of strategy consulting experience and the unrivaled industry and functional capabilities of the PwC network to the task. We are part of the PwC network of firms in 157 countries with more than 208,000 people committed to delivering quality in assurance, tax, and advisory services.
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