Oliver Wyman Closes Avascent Purchase; Nick Studer Quoted

Marsh McLennan’s (NYSE: MMC) subsidiary Oliver Wyman has finalized its purchase of Avascent, a management consulting firm supporting clients across defense, aerospace and government sectors, as part of efforts to form a combined entity with experience in deal and post-transaction work.

The deal was first announced in October and Oliver Wyman said Monday it will integrate Avascent’s team of about 130 professionals with its transportation and services and private capital practices.

Nick Studer, president and CEO of global management consulting firm Oliver Wyman, said the combination will allow the company to broaden its expertise in the defense and aerospace market with private equity and corporate clients.

Established in 2007, Avascent also serves as a private equity and mergers and acquisitions adviser in the aerospace and defense market. The firm has offices in the U.S., Canada, France and the U.K.

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