26th Aug 15
KPMG has announced its acquisition of Boxwood, a management consultancy specialising in the delivery of business and operational transformation. Boxwood is a London-based firm operating across several industries but with a particular focus on retail and consumer, life sciences, TMT and infrastructure.
Richard Fleming, Head of Advisory at KPMG, said that “This is a truly significant deal for KPMG as we seek to expand and enhance the range of consultancy services we provide, particularly to middle-market companies up and down the UK.” The deal is foreseen to add particular value in the post-merger integration space, where Boxwood has developed strong credentials, most particularly in the private equity area, thereby enhancing KMPG’s current advisory portfolio. The new arm will be operating under the KMPG Boxwood brand initially and will be led by Chris Wakerley, one of the firm’s co-founders.
Fleming went on to say that the deal was part of the firm’s “ambition strategy” to double its UK management consultancy business in the next 3-4 years. This was seen by KPMG’s recent acquisition of Nunwood, a customer experience management specialist, along with 13 other Advisory-related deals that have taken place in the past financial year, according to Gartner data. KPMG Advisory's current turnover stands at £850 million, up 8% on last financial year. Fleming intends to break to reach £1.5 billion by 2018, so it will be interesting to see how these ambitious aims are carried out.