Wavestone aims to hit €750 million revenue mark by 2025

03 January 2022 Consultancy.eu 3 min. read

International consulting firm Wavestone has unveiled the details of its new strategic plan, including the aim to hit €750 million in revenues by 2025.

Founded in 1990, Wavestone is a management and digital consulting firm with over 3,000 consultants spread across four continents.

In recent years, an ongoing campaign of acquisitions and organic growth helped power its revenues beyond the €400 million mark. Despite an initial shock in the early days of the coronavirus crisis, the consultancy has proven highly resilient during the pandemic, and has managed to book double digit growth over its latest 2021 financial year.

Wavestone aims to hit €750 million revenue mark by 2025

As part of its new strategic plan implemented last year, Wavestone plans to grow its annual revenues to €750 million by 2025, with the accelerated growth target building on a four-point action plan.

First, the French-origin consulting firm will make positioning itself to partner major international clients its development priority in the years to come. This is particularly in its target geographies of the US, the UK, and in the medium term, Asia.

Second, beyond the targeted acquisitions that the company typically pursues, Wavestone will also consider more fundamental purchases, if the right opportunities arise. Wavestone already acquired a number of firms in the past half-year, including why innovation! in Singapore, Everest Group in the US, and is presently in exclusive negotiations for the acquisition of NewVantage Partners, an advisory firm based in the US.

Third, the firm will further extend its investment in growing its headcount. A release from the firm noted these investments would span all service offerings of the company, but would have a particular focus on the key challenges of future years – such as cybersecurity, data, artificial intelligence, new digital business models, and decarbonisation.

Finally, in a step Wavestone defines as “The Positive Way”, the firm will keep a central focus on cultivating higher customer satisfaction. This will be spearheaded by several client-focused investments, and be backed by investments in innovation and thought leadership. Meanwhile, Wavestone will strengthenkey pillars of its ESG strategy, which the firm expects will help to boost its brand identity and positioning in an increasingly ESG-minded market.

In order to enable a smooth roll out of its plan, Wavestone will overhaul its own governance structure. When his current mandate ends in July 2022, Michel Dancoisne will not seek a new mandate as Chairman of the Supervisory Board, while the next General Meeting will see shareholders asked to vote on a proposal to change the governance structure.

If approved, the plans will see Wavestone move to a model involving a Board of Directors. It will also be proposed that Pascal Imbert becomes CEO of the company; Patrick Hirigoyen becomes the Deputy CEO; and Michel Dancoisne continues to serve on the Board. As it executes this strategic plan, Wavestone will develop its management structure, in order to be ready to begin the transition to a new management team from 2025.