‘Acquisition of Consulting Firm to Beef Up PwC’
PricewaterhouseCoopers has finally completed its acquisition of global management consulting firm PRTM, a deal first inked last June in a definitive merger agreement.
PwC said the addition of PRTM’s “extensive experience in operations management consulting, including strategy, supply chain, product development, customer value management and business model innovation” will strengthen and support PwC’s capacity to deliver consulting services from strategy through execution.
Robert Moritz, U.S. Chairman and Senior Partner of PwC said he considers the completion of the deal to be “an important transaction” for PwC’s clients as it continues to invest in the quality of its services across the consulting firm.
“PRTM’s experienced professionals will bring increased high quality services to our clients in areas that are critically important to them and can help them build a competitive advantage,” Moritz said.
The acquisition of PRTM adds 700 consultants to PwC’s global Advisory practice, including 124 principals. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
Over two-thirds of PRTM’s professionals are located in the U.S., with the remainder located in the U.K., France, Germany, the Nordics, the UAE, India, China and Japan. PRTM’s professionals serve Fortune 1000 clients across industries such as Technology, Industrial Products, Retail & Consumer, Healthcare and Public Sector.
“We are pleased with the successful completion of this transaction, which will significantly increase our ability to serve our clients in the areas of operations management, strategic execution and business model innovation, and will provide our people with new opportunities for career development and growth,” Dana Mcilwain, PwC Vice Chairman and U.S. Advisory Leader, said.
Meanwhile, Scott Hefter, former Global Managing Director of PRTM and now a principal at PwC vowed to “bring a full continuum of world class consulting services — from strategy through execution — to help our clients meet their business challenges.”
The consulting firm said financial details of the transaction will not be made public.