Clearsight served as the exclusive strategic and financial advisor to The Parthenon Group in its acquisition by EY.
The Parthenon Group, a global strategy boutique with 300 professionals in offices in Boston, London, Mumbai, San Francisco, Shanghai and Singapore, has signed an agreement to combine its operations worldwide with EY, subject to the satisfaction of agreed conditions. Parthenon is ranked among the top 10 management consultancies worldwide. Upon closing, the transaction will bring together EY’s world-class brand, global reach, market-leading growth and track record of innovation with Parthenon’s significant strategy capabilities across the Global 1000, private equity and education markets.
The combined entity will sit within EY’s Transaction Advisory Services business and continue under the Parthenon brand and the leadership of Parthenon Chairman and Managing Partner Bill Achtmeyer. It will advise clients on when and where to invest their capital and assess the viability of strategic objectives around growth opportunities and portfolio management. It will also complement other strategy service offerings from different parts of the EY organization, and will play a key role in delivering exceptional client service across all sectors and geographies.
Mr. Achtmeyer said, “We sought the best in the business when it comes to advising consulting firms. We interviewed five firms and Joel and his team from Clearsight were the clear winners. Throughout the sale process, they were thoughtful and many times argued against their own best interests but in ours. That, to me, is the acid test. Furthermore, they collaborated with me to get things done that I could not do. I have the highest respect for Clearsight and would recommend them in a heartbeat.”
Joel Kallett, Co-Founder & Managing Director of Clearsight Advisors, was ebullient in his praise for both his client and the Transaction. “Working with Bill Achtmeyer and the entire Parthenon team was a true pleasure. Both the firm and the individuals reflect the highest degree of talent and character with which we have had the privilege to work. The professionalism and the desire to truly find the best partner to unlock synergies and create the potential to build the market leading Strategy Consultancy, was a refreshing experience.”