Teneo takes majority stake in Danish strategy and M&A boutique Clarity Partners
Global professional services firm Teneo has expanded its European Management Consulting business through a majority investment in Clarity Partners, a boutique consulting firm with a presence in the Nordics.
Founded in early 2024 by a group of former Boston Consulting Group and Bain & Company consultants, Clarity Partners is a Copenhagen-based boutique specialising in strategy consulting and M&A advisory. Since its inception, the consulting firm has grown rapidly and now employs more than 30 professionals.
Under the terms of the transaction, Clarity Partners will continue to be led by its existing leadership team – Asbjørn Kastaniegaard, Thomas Klemm Lerstrøm, Anders Gottlieb Thomsen and Martin Bak-Nielsen – and will retain its organisational structure. Financial terms of the deal have not been disclosed.
250-person Management Consulting business
Clarity Partners will become part of Teneo’s Management Consulting business, which now comprises more than 250 professionals operating globally, with key regional hubs in London, New York, Dubai and Copenhagen.
“Europe represents an important and growing market for Teneo’s global clients, and we are committed to continuing to expand our team across the continent,” said Paul Keary, CEO of Teneo. “The Clarity Partners team brings deep experience in supporting clients across the full value creation lifecycle, making it a strong strategic fit with our Management Consulting business and the wider Teneo platform.”
“We are delighted to welcome the Clarity Partners team to Teneo,” added Tim Nixon, CEO of Teneo’s Management Consulting business. “Clarity Partners has built a strong reputation for delivering actionable advice to enterprises and investors pursuing growth. We look forward to building on this success together and enhancing the services we provide to clients.”
Teneo’s Management Consulting business advises clients on strategy, revenue growth, performance optimisation, diligence and transaction support, organisational design and governance, strategy execution, and data analytics.
“As we considered the next phase of our growth, we focused on finding a partner that truly understood our approach, our mid-market focus and our ambitions as a firm,” said Asbjørn Kastaniegaard, Managing Partner of Clarity Partners. “Teneo demonstrated a strong alignment with our objectives and a clear commitment to accelerating our growth, strengthening our platform and enabling us to serve more clients across the Nordics with our differentiated offering.”
In addition to Management Consulting, Teneo operates four other business units: Financial Advisory, People Advisory, Risk Advisory and Communications. For integrated offerings, such as M&A transactions or IPOs, these businesses work closely together.
Teneo’s buy-and-build
The deal in Denmark follows a series of acquisitions by Teneo. Most recently, the firm acquired PwC’s restructuring practice in New Zealand, following its earlier acquisition of PwC’s Australian restructuring business. Prior to that, Teneo acquired Deloitte’s restructuring practice in the UK, laying the foundation for its restructuring capabilities. The US-headquartered group has also completed several other acquisitions in recent years.
Globally, Teneo has over 1,800 employees working from around 45 offices worldwide.
