Management Consulting Group Expands Corporate Family with CBH Acquisition: Company Poised to Carve out Global Leadership Position in Performance Management Space
Management Consulting Group PLC (MCG) announced today that it is expanding its capabilities in the area of performance management with the acquisition of CBH, a leading provider of performance management solutions including financial planning, metrics management, business intelligence and workflow technologies.
LONDON & IRVINE, Calif. (PRWEB) September 6, 2007
Headquartered in London, MCG is an umbrella organization for a diverse range of consulting and professional services offerings. In addition to CBH, it is comprised of five leading specialist consultancies: Ineum Consulting, Parson Consulting, Proudfoot Consulting, Salzer Consulting and Viaduct Consulting.
As the latest addition to the MCG family of companies, CBH will retain its name and organizational structure, bringing a truly integrated solution, sales and delivery organization to the major markets of the world. CBH's specialized expertise in performance management processes will further expand and enhance MCG's broad capabilities in finance and management consulting.
"Performance management is a fast growing, yet highly fragmented segment. By formalizing the CBH/MCG relationship and leveraging the expertise of CBH's talented professionals with the global resources of MCG, we have a tremendous opportunity to significantly expand our capabilities and become the dominant global leader in this segment," said Kevin Parry, CEO of MCG.
Joe Baird, CEO of CBH, added, "With this merger, our clients will benefit immediately from stronger delivery excellence platforms, global capacity and more vertical resources. The MCG family will provide CBH with increased industry and process expertise through the portfolio of consultancies, 32 delivery offices around the world, access to growth capital, and stronger infrastructures for knowledge management and client project resources." Mr. Baird further stated, "Our short term plans call for the establishment of our North American solution development center, increases in our financial services team as well expansion in the Northeast U. S. and the UK."
CBH has been recognized by Cognos as a distinguished partner, and has been awarded for their service for four consecutive years. Awards include the Cognos North American Solution Provider of the Year (2007), Reseller of the Year (2006-07), Platinum Reseller and Rising Star (2005) and Pinnacle award (2004).
"We see this as an excellent opportunity for one of our premier partners to not only bring forth unparalleled value to Cognos customers, but to allow CBH to grow its existing performance management expertise into a global industry solutions portfolio," said Les Rechan, Chief Operating Officer of Cognos, and he went on to say: "We are very excited to continue to work with CBH and its new parent company MCG on future efforts to enable our customers to achieve the highest of levels performance."
Synergies have already been established with MCG's existing North American affiliates and CBH. MCG subsidiary company Parson Consulting and CBH are collaborating to provide complementary performance management services and capabilities to clients across the globe.
"CBH and Parson share a common vision of partnering with clients to execute strategies that help them achieve high performance," said Patrick Neeley, Parson's EVP of practices and global solutions. "Working jointly under the MCG umbrella to develop a platform for growth and leveraging our diverse sales channels is a great strategic fit for both parties and reflects an imminent global strategy that will enable us to compete on any continent."
The collaboration between CBH and the MCG affiliates will provide much needed end-to-end performance management solutions that incorporate CBH industry performance accelerators, process re-engineering, solution design and technology innovation and implementation.
About MCG
Management Consulting Group PLC (LSE:MMC) is a group comprising a range of consulting and professional services offerings.
It now operates through six divisions: CBH Consulting, Ineum Consulting, Parson Consulting, Proudfoot Consulting, Salzer Consulting and Viaduct Consulting. Ineum Consulting provides services with industry expertise. Parson Consulting specializes in financial management consulting. Proudfoot Consulting specializes in operational improvement consulting. Salzer Consulting specializes starting, managing and restructuring businesses in Asian markets and Viaduct Consulting specializes in commercial due diligence. The businesses operate worldwide. For further information visit www. mcgplc. com.
About CBH
CBH designs and implements performance management solutions for some of the most successful, fast growth companies in the world. Through a strong partnership with Cognos Corporation, the leader in performance management and business intelligence solutions, CBH provides comprehensive services and solutions to clients ranging from a large multi-state comprehensive healthcare provider, retail and commercial financial lending organizations, global active apparel maker/retailers, to a division of one of the world's largest entertainment companies. They all operate in dynamic, highly competitive environments where the ability to accelerate smart decision-making enables them to thrive and deliver greater shareholder value.
