Italian consultancies Bonfiglioli Consulting and Octagona join forces

Two Italian consulting firms – Bonfiglioli Consulting and Octagona – have joined forces with the ambition to grow into of the leading Italian-origin consulting groups.

Founded in 1973, Bonfiglioli Consulting has a team of around 65 employees who serve clients in Italy and internationally – the firm has consultants and associates based in 12 countries.

Bonfiglioli Consulting specialises in operations, performance improvement, digitisation and lean manufacturing, and bills itself as the first consultancy to bring the lean thinking to the Italian market.

Counterpart Octagona is a smaller consultancy (headcount of 30 staff) but with a similar international profile. From its base in Modena, the firm supports Italian companies with successfully entering foreign markets and growing their international operations. Octagona provides advisory, export-oriented, and sales & business development services.

Facilitating its international work, Octagona has offices in India, Vietnam, Brazil and the United States, as well as partnerships with likeminded consultancies across more corners of the globe.

Having already worked together since 2017 (when Bonfiglioli Consulting acquired a minority stake in Octagona), the two companies have now taken their partnership to the next level. Technically, Bonfiglioli Consulting has upped its stake in Octagona to hold a majority share.

“Since our paths met in 2017, when Bonfiglioli Consulting visited our office in India to explore the local market, our partnership has grown from strength to strength,” said Alessandro Fichera, CEO of Octagona.

Together the two consulting firms have over 100 consultants and a project portfolio of 300+ projects delivered annually, with revenues expected to break through the €10 million mark by the end of 2022.

Michele Bonfiglioli, the CEO of Bonfiglioli Consulting, said about the deal: “It stems from our ambition to create a leader in Italian consulting and a group with the size and capabilities to help large Italian groups with both their national and international endeavours.”

He added that the firm aims to become a serious alternative to the traditional global consultancies that “typically are German, American, British or Japanese”. “We pride ourselves on our Italian know-how and do things in a unique way.”

Within the next three years, Bonfiglioli Consulting and Octagona aim to grow joint revenues to over €15 million. Launching new offices in Asia and the United States are key pillars of the growth agenda.