EY completes combination with The Parthenon Group, building on its investment strategy capabilities
New York, 3 September 2014
The global EY organization announced today that The Parthenon Group—a global strategy consultancy with 300 professionals in offices in Boston, London, Mumbai, San Francisco, Shanghai and Singapore—has joined EY.
The deal brings together EY’s market leading growth, world-class brand and global reach with Parthenon’s extensive strategy capabilities across the Global 1000, private equity and education markets. With the combination complete, Parthenon Group professionals and EY’s Investment Strategy practices will operate under the Parthenon-EY brand. Bill Achtmeyer, Chairman and founder of Parthenon, will lead Parthenon-EY, which will be part of EY’s global Transaction Advisory Services.
“Clients want broader, more strategic advice, and combining our strengths and resources significantly expands EY’s capabilities in the investment strategy market.” said Mark Weinberger, EY Global Chairman & CEO. “EY is delighted to welcome The Parthenon Group.”
Parthenon-EY will be strongly positioned in the marketplace to serve as a global strategic advisor. It will work with companies to develop investment strategies across the capital lifecycle, helping them determine when and where to invest and assess the viability of potential targets to achieve strategic objectives around growth and portfolio management.
“Our number one goal has always been to serve as the strategic advisor of choice for CEOs and business leaders by offering our clients a steadfast commitment to life-long partnerships and a high-impact, customized approach,” said Bill Achtmeyer. “EY has long fostered the same culture and thinking. We’re thrilled to be part of the EY organization.”
Pip McCrostie, EY Global Vice-Chair, Transaction Advisory Services, concluded: “As business decisions become more complex in an increasingly global environment, our clients demand leading investment strategy advice. The combination with The Parthenon Group strengthens our existing investment strategy capabilities in key global markets, enabling us to better support our clients.”
Clearsight Advisors acted as exclusive financial advisor, and Goodwin Procter LLP as legal counsel to The Parthenon Group on this combination. EY’s legal advisor was Pillsbury Winthrop Shaw Pittman LLP.
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This press release has been issued by Ernst & Young LLP, an EY member firm serving clients in the US.