KPMG has acquired a mid-tier management consultancy, expanding its offerings to the UK’s middle market.
Initially operating under the KPMG Boxwood brand, the new arm will be led by KPMG partner and Boxwood managing director, Chris Wakerley, with Wakerley and KPMG manager Matt Clark becoming partners of the consultancy firm.
Boxwood specialises in delivering business and operational transformation over a range of areas, including private equity and infrastructure.
Head of advisory at KPMG, Richard Fleming, said: “This is a truly significant deal for KPMG as we seek to expand and enhance the range of consultancy services we provide, particularly to middle-market companies up and down the UK.”
The addition comes a month after KPMG’s acquisition of Nunwood, a consultancy with a focus on customer experience management and feedback technology.
Fleming added: “We continue to see enormous opportunity in this growing part of our business, as corporates and public sector organisations seek to unpick issues with challenge them and drive growth in a complex economic environment.”
On the acquisition of Boxwood, Wakerley commented: “This move is tremendously exciting for Boxwood, our clients and our people. KPMG’s broad capabilities, extensive experience and global reach will further enhance the value we can deliver for our clients.”
The news comes as EY has made a similar move.