Global management consulting firm Oliver Wyman, a business of Marsh McLennan, recently announced that it has inked a deal to purchase Avascent, a management consulting firm with a focus on the corporate and private equity sectors of the Aerospace and Defense industry.

Beginning in 1984 as Defense Forecasts, Inc., the company was re-named The Avascent Group in 2007. Employing more than 100 consultants and a global network of advisors, the Washington, D.C.-based firm offers advisory services in the areas of global expansion, strategy and growth, business capture and pricing, customer strategy and positioning, and mergers and acquisitions. Avascent was named to the Forbes’ World’s Best Management Consulting Firms 2022 list, as well as America’s Best Management Consulting Firms 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 Chief Executive Officer of 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."

Oliver Wyman has a strong position and reputation within the global aerospace and defense industry, employing more than 6,000 global professionals who provide expertise in operations, strategy, organization transformation, and risk management. The firm also acquired Booz Allen Hamilton’s management consulting business serving the Middle East and North Africa region earlier in 2022, as well as Huron’s life sciences strategy consulting practice in late 2021.

This latest acquisition will see Avascent’s team of approximately 130 professionals, including 10 partners, integrated into Oliver Wyman’s Transportation & Services and Private Capital practices. The deal is expected to close before the end of the year and the terms of the transaction were not publicly disclosed.

Avascent has served as a premiere management consulting firm serving clients across the defense, government, and aerospace sectors, as well as a leading boutique private equity and M&A advisor in the Aerospace and Defense industry. The combination of the two companies is expected to create a team with exceptional experience in both deal and post-transaction advisory services.