Oliver Wyman, a global management consulting firm, has completed acquisition of Avascent, an aerospace and defence (A&D) management consulting firm focused on the corporate and private equity sectors.
For more than fifteen years, Avascent has been serving clients across aerospace, defense, and government sectors.
The combination of Avascent and Oliver Wyman will create a team with unparalleled experience in both deal and post-transaction work, the companies said.
Christian Edelmann, managing partner, Europe at Oliver Wyman, said: “With a strong pedigree of serving the defense and aerospace sector, across both corporate and private equity clients, Avascent will bolster our strategy to collaborate with clients to tackle some of the most important challenges currently facing businesses and societies.
“I look forward to integrating new and existing teams in our various European markets to work together on our clients’ strategic needs.”
Avascent is based in the US, Canada, UK and France and with an extended network of clients and senior advisors around the world. A team of approximately 130 professionals, including 10 partners, will join Oliver Wyman and will be integrated into Oliver Wyman’s transportation and services and private capital practices.
“We are excited to have completed this deal and welcome our new colleagues to Oliver Wyman,” said Nick Studer, president and CEO at Oliver Wyman.
“Together we will greatly expand our expertise in the Aerospace and Defense sector with corporate and private equity clients.”