Global management and technology consultancy BearingPoint has strengthened its team in France with the acquisition of Levo Consultants, a Paris-based financial services consultancy.
Commenting on the deal, BearingPoint’s managing partner Kiumars Hamidian said, “This acquisition marks another step in BearingPoint’s ambition to support the growth of our banking and insurance clients, embodied in our Strategy 2025.”
The deal sees a team of around 40 consultants join BearingPoint, specialised in topics including strategy, operating model optimisation, performance improvement, organisation, finance, risk and compliance, data science and digital transformation.
According to Axelle Paquer, Regional Leader of BearingPoint in France (as well as of Belgium, Luxembourg, and Africa), the bolt-on will bolster BearingPoint’s financial services offerings at a time of major change for the sector. “Levo Consultants provides clients in the insurance, banking and asset management sectors with high level and deep expertise. Their know-how and client portfolio complements our own offerings.”
“Adding Levo Consultants to the BearingPoint family will also enable us to develop compelling new value propositions for our clients,” she added.
While BearingPoint typically prefers organic growth above inorganic means, when the firm closes a deal the odds are high it materialises in France. Of the ten deals the firm closed since 2017, three were with French counterparts: I Care (2022), YouMeO (2021), and Steerio (2020).
Meanwhile, for the still relatively young Levo Consultants (founded in 2018), the merger into BearingPoint sees the firm join one of Europe’s largest homegrown consultancies. France is one of the firm’s key markets, with a team of over 1,000 consultants and staff operating out of its Paris office.
“Leveraging the reputation and capacities of BearingPoint, we will be able to better serve our customers and provide our employees with benefits across their career,” said Scott Crunden, President of Levo Consultants.
In 2022, BearingPoint – which has its roots within KPMG Consulting – achieved its most successful year in history.
Sourced from Consultancy.eu