London and New York, 24 April 2009 — Booz & Company and Katzenbach Partners are pleased to announce that they have signed a letter of intent under which U.S.-based management consultancy Katzenbach Partners, LLC, will combine with the global management consultancy Booz & Company, Inc., for an undisclosed consideration.
Katzenbach Partners to combine with Booz & Company
The combination will be completed pending the outcome of a due diligence process. The combined firms will operate under the Booz & Company brand. Subsequent to completion, Booz & Company will continue to be entirely owned by its partners, and maintain a debt-free balance sheet.
Established in 1914 as one of the first management consultancies, Booz & Company has more than 3,300 staff based in 59 offices around the world. It is in the top tier of global general management consultancies, with leading industry and functional practices.
Katzenbach Partners was founded in 1998. The firm rapidly achieved a leading position in the U.S. market in the domain of organizational performance, based out of offices in New York, Chicago, Houston and San Francisco.
“Katzenbach’s combination with Booz & Company is fully aligned to the central tenet of our firm’s capabilities driven strategy—working with clients to build the sustaining capabilities that allow them to create essential advantage in their markets,” said Booz & Company CEO Shumeet Banerji.
He added: “Katzenbach’s leadership in organisational transformation, outstanding reputation, values and strong track record among leading U.S. companies makes this a highly advantaged combination. Our combined impact will be greater because Katzenbach’s highly differentiated approach to enhancing organisational performance will allow clients to gain better leverage from Booz & Company’s industry foresight and expertise. In short, Katzenbach’s distinctive approaches will enhance Booz & Company’s ability to help clients achieve their desired outcomes.”
Founding partner and leading management thinker Jon Katzenbach added: “Together we can build a different kind of firm, as differentiated in how we work with clients as in the expertise we bring to bear. We are committed to building on the legacies of both firms to strengthen a values-based consulting partnership that will be a leader for generations to come.”