(Boursier.com) — Wavestone announced the acquisition in the United States of the consulting firm Aspirant Consulting. Created in 2003 and based in Pittsburgh (Pennsylvania – United States), Aspirant Consulting offers leading expertise in marketing & innovation, organization & change management, and digital transformation.
Aspirant RPO, another branch of Aspirant, which offers outsourced recruitment services (RPO – Recruitment Process Outsourcing), is not included in the scope acquired by Wavestone.
Aspirant Consulting counts among its clients Global 500 companies as well as large American companies, in several sectors, with a strong presence in the pharmaceutical industry. Its main clients include leading companies such as GSK, Haleon, Novartis, PPG, Westinghouse and Zimmer Biomet.
Aspirant Consulting’s workforce is made up of around a hundred permanent employees, including around 80 consultants, plus around 30 independent consultants mainly in the United States and some in the United Kingdom.
Over its last financial year (ended December 31, 2023), Aspirant Consulting achieved consolidated revenue estimated at $26.1 million (23.8 million), and an adjusted EBITDA margin which should stand at beyond 10%.
The initial acquisition price is $24 million (21.9 million euros) in enterprise value, to which up to $10 million (9.1 million euros) may be added, depending on the company’s performance as of 31 December 2024.
This acquisition is financed entirely in cash, using Wavestone’s financial resources and thanks to lines of credit available to the firm from its banking partners. Aspirant Consulting will be consolidated into Wavestone’s accounts as of February 1, 2024. The Aspirant Consulting management team is fully committed to this merger.
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