Oliver Wyman, a Marsh McLennan (NYSE: MMC) subsidiary, has agreed to acquire Avascent, a strategy consulting firm supporting clients across aerospace, defense and government markets, for an undisclosed sum.
Oliver Wyman said Monday it will integrate Avascent’s team of about 130 professionals with its private capital and transportation and services practices upon the deal’s closing, which is expected before the end of 2022.
“Avascent will complement Oliver Wyman’s expertise, and strengthen it significantly in the Aerospace and Defense sector, both with our corporate and private equity clients,” said Nick Studer, president and CEO of global management consulting firm Oliver Wyman.
“The company also has a similar business focus – built on deep industry expertise, analytics, impact and collaboration – and we believe these values will benefit our clients,” added Studer.
Founded in 2007, Avascent supports clients by providing them advice and insights in the areas of strategic growth, mergers and acquisitions and value capture.