West Monroe Companions, a Chicago-based administration and expertise consultancy, has acquired Tempo Harmon, a Washington, DC area-based IT and enterprise companies transformation and outsourcing advisory agency.
Based in 2003, Harmon Tempo is an employee-owned agency that helps giant enterprises optimize the efficiency, price, and responsiveness of IT and back-office enterprise features. The corporate has 75 staff throughout workplaces in McLean, VA, San Francisco, and Chicago.
West Monroe’s acquisition of Harmon Tempo will give it a brand new workplace in McLean, whereas additionally including new capabilities in IT technique and enterprise course of outsourcing, procurement, and vendor administration.
The acquisition is the biggest within the agency’s 18-year historical past, and is a direct response to IT and back-office features being more and more impacted by cloud and digital transformation. The Harmon Tempo workforce will add experience in IT operate redesign, optimization, and outsourcing to West Monroe’s capabilities in tech structure, cloud advisory, enterprise course of redesign, and alter administration.
Co-executive managing administrators Steve Martin and David Rutchik, who’ve led the agency for the previous 17 years, will go away Tempo Harmon as a part of a transition plan initiated greater than a yr in the past. The transaction will, nonetheless, add 10 new administrators to West Monroe.
“Over Tempo Harmon’s almost 20 years in operation, we constructed a stable fame amongst main world enterprises as a trusted enterprise transformation advisor with a client-first philosophy,” Martin stated. “We noticed an immense alternative to proceed Tempo Harmon’s profitable monitor report in combining capabilities with West Monroe – we couldn’t be extra thrilled with the end result.”
This marks West Monroe’s third acquisition within the final 18 months. The agency in October 2019 acquired GoKart Labs, a Minneapolis-based digital product studio, and in April 2019 acquired Waterstone Management Group, a Chicago-based M&A technique agency.
West Monroe earlier this yr sold off its managed services division to personal fairness agency M/C Companions.
“West Monroe will end 2020 with 13 consecutive years of top-line income development and EBITDA development. Whereas 2020 has actually introduced greater than its share of challenges, we’re addressing these challenges by a number of offensive measures – together with seizing alternatives like this to achieve the post-Covid financial system,” stated Tom Bolger, chief technique officer for West Monroe.
BDO USA served as monetary and tax advisor to West Monroe on the deal.