Sia Partners accelerates in US with Loft9 and Gartland & Mellina

Sia Partners has accelerated its growth in the United States with two acquisitions in the space of a few weeks. The bolt-ons of Loft9 (around 70 consultants) and Gartland & Mellina (110 consultants) has lifted the size of Sia Partners’ North American team to above 400 employees. 

The double swoop is part of Sia Partners’ strategy – unveiled by company founder and CEO Matthieu Courtecuisse last year – to reach a headcount of 500 consultants in the US by the end of 2020. By 2022, the French-origin management consulting firm aims to become – in the sectors it is active in – one of the top 15 consultancies of the United States. 

Sia Partners first landed in North America in 2012 when it acquired the New York branch of OTC Conseil Group. A period of organic growth followed, with new offices opened in Montreal (2014) and Charlotte, North Carolina (2015). Growth was accelerated with the acquisitions of Molten Group in 2016, a UK-based consultancy which also had an operation in Houston, and Canada-based E3 earlier this year.

In the latest chapter of its buy-and-build strategy, the Loft9 and Gartland & Mellina deals see a team of around 180 consultants added to its footprint. Founded in 2010, Loft9 provides consulting services ranging from business analysis and change management to process improvement and project management, serving clients in tech, utilities, healthcare, and aviation. The company has offices in Seattle and Denver, generating revenues of $13 million in 2018. As part of the deal, Loft9’s managing partners – Mark Birzell, Ed Beals, and Ronan Walsh – have joined Sia Partners as a partner.

Dan Connor, CEO of Sia Partners for North America, commented; “Loft9 has built a strong West Coast firm that delivers outstanding outcomes for its clients. We are excited to partner with them and we look forward to working with the team at Loft9 to bring our cutting-edge innovation and AI techniques to even more clients across the US.”The purchase of Gartland & Mellina adds around $23 million of turnover to Sia Partners’ financials, taking its total revenues in the US to $60 million, accounting for about 22% of the total income of the group. The move doubles Sia Partners’ team in New York, where it currently employs 220 consultants, adds members in Chicago and Toronto, as well as adding a new presence in Baltimore. 

Established in 2009, Gartland & Mellina focuses exclusively on the financial services sector, in particular banking, which is in terms of size one of Sia Partner’s main focus sectors. “Our banking practice now has more than 450 consultants advising half of the global systemically important banks. This transaction establishes Sia Partners as a leading consulting player in the US banking market,” said Courtecuisse.

Connor added; “This combination of two pure consulting players with a strong financial institutions focus is a natural one, as Gartland & Mellina’s client portfolio and team expertise seamlessly complement Sia Partners’ existing capabilities.”

Robert Gartland, CEO of Gartland & Mellina responded, “After having grown Gartland & Mellina over a decade to become a leading management consulting practice in the financial services sector, we are excited for the firm to join Sia Partners. We have been impressed by the team’s track record and are convinced that Sia Partners’ approach will help further expand and diversify our existing client portfolio.” 

In the coming months, Gartland will together with co-founder Vikram Pandit support the transition process in the role of senior adviser. Meanwhile, John Gustav, Eric Blackman, Bharat Sawhney and Kavita Nar – Managing Partners of Gartland & Mellina – have joined  Sia Partners’ US management team. 

Reflecting on the firm’s ambitions going forward, Courtecuisse revealed in discussion with French newspaper Les Echos that the consultancy is eyeing one to two more acquisitions over the next 12 months. Globally, the management consulting firm has more than 1,400 consultants working from offices in Europe, Africa, the Middle East, Asia, and North America, and annual revenues of over $280 million.

Related: Sia Partners acquires British boutiques Inzenka and SKT Consulting.