Copenhagen, 15 September 2017
EY acquires strategy consultancy BOX Associates
- EY acquires strategy consultancy BOX Associates to further strengthen its position in the growing market for growth ventures, innovation and digital transformation.
- Following the transaction BOX Associates becomes EY-BOX as part of EY- Parthenon; EY’s corporate strategy business, working closely with EY’s 15 innovation and technology centers around the world.
- This acquisition follows the acquisition of US-based strategy firm Parthenon and several other strategic investments and technology partnerships aimed at positioning EY as a global leader in the field of growth, innovation and technology.
The new non-linear world of business is moving at speed with tech-led innovation challenging leaders to answer new types of questions. This is causing blind spots and navigational difficulties for senior corporate leaders and investors operating on linear practices and structures.
With the acquisition of BOX Associates, EY cement their outlook and position on the forefront of these new requirements. Launched only six months ago, BOX Associates was founded and designed to address these specific needs through a new approach to strategic problem solving bringing the working practices of entrepreneurs into the corporate transformation agenda and into the value-creation logic of the investors.
Jakob Wedel, Co-founder of BOX Associates:
“There is a clear need for new conversations and new collaborations. The strategy playbook is changing and what we bring to the table is a proven perspective on how corporates, startups and investors can shape their future strategies by responding to new types of questions. Being part of EY’s global network, investing significantly into the new strategy and innovation space, we are poised to set an agenda for others to follow."
Jesper Almström, EY Nordic Managing Partner Transaction Advisory Services:
“Acquiring a boutique consultancy founded just eight months ago may seem unusual. However, we saw how the BOX team had developed a perspective and approach that not only resonates, but also fully complements EY’s strategy and transaction advisory services. BOX are liberatingly provocative in their approach and is giving us a new lens on how to roll out a perspective and approach to value creation that will benefit not only our existing client base, but also attract new clients and talent."
The new solution will be named EY-BOX and will encompass partners and professionals working out of BOX Associates’ existing Co-Lab facilities that today also hosts several high profile technology entrepreneurs, investors and corporate innovation teams including Uber, Simple Feast and ByFounders, a newly established venture fund backed by institutional investors and 30 of the most prolific Danish technology entrepreneurs as base investors.
Bill Achtmeyer, Founder and Managing Director of EY-Parthenon:
"The BOX team is a unique combination of great strategists and down-to-earth futurists. The biggest conundrum for all CEOs is "how can I prepare for future disruption and sustained growth. This is one challenge where strategy consultants apply massive analysis on the past and little on the implications of future trends. The Box team has developed a proprietary approach that we found so compelling that we concluded that their talent and expertise would be perfect to add to our capabilities. We believe we can supersede the McKinsey/BCG pack with their thinking. We are super excited about their involvement on our team."
As a result of the acquisition, the three founders Jakob Wedel, Thomas Holm-Møller and Nicolai Strate will become Partners of EY and tasked with the objective of rolling-out the #NewStrategy agenda internationally and establishing Co-lab facilities in a number of strategic cities around the world.
Nordic Head of PR
Tel. +45 2529 3047
Contact BOX Associates:
Thomas Holm Møller
Co-founder & Partner
Tel. +45 2270 6484
For more information on BOX Associates, please visit: www.boxassociates.com