Strategy& buys strategic insurance consultancy 67rockwell

22 April 2021 2 min. read

Strategy& has agreed to acquire 67rockwell Consulting, a boutique German strategic consultancy focused on the insurance industry.

The deal is – according to records – Strategy&’s first announced acquisition* since it was formed seven years ago following Booz & Company’s joining of forces with PwC

The fact that Strategy& has picked Germany as its deal locale doesn’t come as a major surprise: the strategy consulting firm is investing heavily in Germany (which was its first European base back in 1965), its CEO is a German (Joachim Rotering) based in Dusseldorf, and coincidence or not, the last deal it closed under the Booz & Company banner was a German firm (Management Engineers).

Strategy& buys strategic insurance consultancy 67rockwell

The bolt-on of 67rockwell Consulting adds 30 partners and consultants to Strategy&’s teams in Hamburg and Düsseldorf, and bolsters its Insurance practice. “With this acquisition, we are jointly building a powerhouse for advising insurance companies,” said Philipp Wackerbeck, Partner at Strategy & Germany and Global Head of the firm’s Financial Services division. 

Founded in 2008, 67rockwell Consulting advises insurance companies on their strategies, business model, and operations. “We help our clients develop and implement value-creating strategies. To secure results, we strive to be business- and practice-oriented in order to craft actionable strategies that build sustainable value,” explained Tim Braasch, founder and managing director of 67rockwell. 

The integration sees the full management team of 67rockwell Consulting – Tim Braasch, Marcus Laakmann, Michael Reich and Thorsten Schramm – join Strategy&.

The two firms enjoy a leading standing in Germany’s €34 billion consulting industry. According to a survey of over 3,500 executives and consultants, the newly-wed partners both rank among the top strategy consulting firms in the country. “We are delighted to be part of Strategy&, the leading consultancy for the DACH insurance market.” said Braasch.

Peter Gassmann, Germany and Europe Head of Strategy&, said: “This allows us to provide an even broader and deeper portfolio of consulting services, in order to help shape the transformation in the insurance industry.”

* Strategy& has over the years closed office additions and team carve-outs, but not completed acquisitions.