Implement Consulting Group acquires thyssenkrupp Management Consulting
The consulting business of thyssenkrupp is joining forces with Implement Consulting Group, a Danish-origin consultancy with more than 2,000 employees.
Founded 17 years ago, thyssenkrupp Management Consulting is the internal consulting unit of thyssenkrupp, a German industrial engineering and steel production company. Since its inception, the consultancy has supported more than 400 projects spanning the entire value chain, from strategic advisory engagements to industrial transformation programmes, technology-led initiatives and change management.
“For thyssenkrupp Management Consulting, becoming part of Implement Consulting Group marks the beginning of a new chapter,” said Carolin Heck, Managing Director of the firm. “With this transition, our employees will become part of a global and growing management consultancy, opening up new perspectives for collaboration and professional development.”
A key aspect of this new opportunity for its people is the ability to broaden their experience by working with a wider range of clients. “This journey will take our people from an in-house consulting environment into a consultancy that serves diverse clients across industries. We will gain access to new industries, a broader client base and the wider consulting market.”
“At the same time, we will continue to support thyssenkrupp on important projects and transformation initiatives, with the added expertise and capabilities of Implement Consulting Group,” she continued.
Heck, who previously worked for McKinsey, said Implement Consulting Group brings additional expertise in areas including leadership transformation, change management, digitalisation, artificial intelligence and operational excellence. “Combining our strengths will create new opportunities to support clients more comprehensively in addressing complex challenges and to drive transformation effectively across all phases.”
Growth in the German market
For Implement Consulting Group, meanwhile, the deal will significantly strengthen its German business, which is its most important market outside of its homebase Nordic region. Around 70 consultants from thyssenkrupp Management Consulting will join its ranks.
“This is an important step for us in Germany, where we have been building our presence carefully over a number of years, developing local capabilities, strong client relationships and a consulting model that fits the market,” said Niels Ahrengot, Founder and CEO of Implement Consulting Group.
“We were not looking for an acquisition in the German market. But through the conversations with thyssenkrupp Management Consulting, it became clear that the people, the capabilities and the long-term fit were unusually strong. They have built deep expertise inside one of Germany’s most demanding industrial environments – we are delighted to welcome them into the family.”
The transaction is expected to close on 30 September. Financial terms and conditions have not been disclosed.
