BrazilWavestone and Q_Perior seal Franco-German consulting alliance
Two of Europe’s larger consulting firms, France-headquartered Wavestone and German-origin Q_Perior, have signed a partnership agreement.
According to Karsten Höppner, the chief executive officer of Q_Perior, the partnership will enable both companies to expand their international footprint, by teaming up during business development and account management, and more importantly, by working together on projects.
For both consultancies, the tie up closes a blind spot they had in their market presence, in key markets. Q_Perior is with over 1,000 consultants one of Germany’s ten largest home grown consulting firms. The firm has offices in Germany, Austria, Switzerland, as well as in the UK, Bosnia & Herzegovina, and two in North America. The French management consulting industry, valued at €7.3 billion by local industry association Syntec Conseil, is supported remotely by fly-in teams.
Conversely, Wavestone is one of Europe’s largest management and digital consulting firms. The consultancy – founded in 2015 after the merger between Solucom and Kurt Salmon's European operation and subsequent rebranding – has nearly 3,000 employees, of which the majority are based across its footprint of nine European offices. Wavestone however does not have a foothold in Germany, with €34 billion mainland Europe’s largest management consulting industry by a distance.
The Franco-German partnership has been designed to build on the growing ties between the two European superpowers. Partly spurred by the UK’s retreat from Europe’s economic and political centre stage, the focal point of Europe’s power block has shifted towards the Franco-German tandem, with both countries intensifying their relationships as they seek to lead Europe into a unified and successful future. On the back of the ‘new Élysée Treaty’, signed 55 years after the historic Élysée Treaty in 1963, the governments of Germany and France aim, among others, to grow the trade and economic output delivered between the two countries.
Wavestone and Q_Perior both advise governments, corporates and mid-sized businesses on some of their most strategic, organisational and digital challenges. Wavestone specialises in operations, finance, innovation, technology and human capital, while the smaller Q_Perior supports clients with topics such as finance & controlling, supply chain, sales & marketing, project management and digital transformation. Under the partnership agreement, Wavestone will be able to leverage Q_Perior’s domestic footprint to better serve its customers in Germany, and, vice versa, Q_Perior will be mandated to include Wavestone’s expertise when staffing its on the ground French projects.
“We share market positioning, service offerings, and growth ambition,” said Reza Maghsoudnia, Strategic Development Director at Wavestone. “These elements represent a fertile ground to cooperate efficiently and develop synergies.” Höppner added: “I am convinced that we will create real added value for both sides right from the start.”
The alliance comes within a month of two other France-Germany deals in the consulting industry. Earlier this month, German operations consulting firm ROI Management Consulting joined forces with France-headquartered Efeso Consulting, in a move that created a 500-strong advisory group across 30 locations globally. Meanwhile, energy player Konexus Consulting joined French-origin Capgemini Invent.
