BrandWikiReturn

Guidehouse

Guidehouse, Inc. is a global professional services firm delivering advisory, technology, and managed services to the commercial and government sectors. It is the successor to PwC’s public sector business and it was acquired in 2018 by Veritas. The head office is in Tysons, Virginia.

In December 2023, Guidehouse was acquired by Bain Capital.[1]

History

Guidehouse began as PwC's U.S. public sector business. New York private equity firm Veritas Capital acquired the company in 2018. It retained leadership, including Chief Executive Officer Scott McIntyre.[2] Deborah Ricci was appointed as its CFO.[3]

After the acquisition, it then operated as the independent company "Guidehouse".[2] Bloomberg reported that Guidehouse had an estimated valuation of approximately $7 billion in 2023.[4]

The company acquired and combined with Navigant Consulting Inc in August 2019 for $1.1 billion.[5] A year after purchasing Dovel Technologies, it acquired Grant Thornton LLP’s public sector advisory practice in 2022.[4]

In November 2023, Bain Capital agreed to acquire Guidehouse for $5 billion.[6] The purchase was completed the following month.

Navigant Consulting

Navigant Consulting was founded in 1983 by Richard Metzler as The Metzler Group Inc., providing management consulting to energy and other regulated industries. It was listed on NASDAQ in October 1996 under the ticker symbol METZ. In July 1999, the company was renamed Navigant Consulting, Inc., and its stock was subsequently listed on the New York Stock Exchange. William M. Goodyear became chairman and CEO in 2000.[7]

In 2005, the company faced allegations of overcharging Los Angeles County for work at Martin Luther King Jr.-Harbor Hospital. County auditors rejected more than $206,000 in expenses, citing unauthorized first-class flights and uncompleted project goals.[8] The hospital later failed to meet federal Medicare standards in 2006,[9] prompting a major restructuring plan.[10]

Julie Howard succeeded Goodyear as CEO in 2012.[11] In April 2018, Navigant partnered with Baptist Health South Florida to form a joint venture for healthcare revenue cycle management.[12][13] In August 2018, the company sold its disputes and investigations division to Ankura Consulting.[14][15]

Operations

After it was sold by PwC, Guidehouse leadership was announced, including Chief Executive Officer Scott McIntyre[2] and Chief Financial Officer Deborah Ricci.[3] Guidehouse services state, local, and federal clients, including the U.S. Departments of Defense, Homeland Security, Veterans Affairs, Health and Human Services and State as of 2018.[3]

Guidehouse was considered among the Washington, D.C., region’s largest private companies and in 2018, it was reported that the company had 16,000 employees in 53 locations around the world and $3 billion in annual revenue.[36]

In 2021, Guidehouse moved its global headquarters to Tysons, Virginia, due to an increase in demands for the company's services. It has three offices local to Washington, D.C.[37]

External links

References

  1. Bain Capital Finalizes Acquisition of Guidehouse for $5.3 Billion ChannelE2E, 15 December 2023, retrieved 2023-12-21^
  2. Robert Terry. PwC finds a buyer for its government consulting practice www.bizjournals.com, 15 February 2018, retrieved 7 August 2023^
  3. Robert Terry. PwC's Veritas-owned U.S. public sector business now has a name www.bizjournals.com, 23 July 2018, retrieved 7 August 2023^
  4. Kiel Porter. Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse Bloomberg.com, 29 September 2022, retrieved 7 August 2023^
  5. Colin Kellaher. Navigant Consulting to Be Acquired for $1.1 Billion Wall Street Journal, 2 August 2019, retrieved 7 August 2023^
  6. Bain close to buying consulting firm Guidehouse in $5 bln deal- WSJ Reuters, November 6, 2023^
  7. Navigant Consulting Names New Chairman and CFO The Wall Street Journal, 23 May 2000, retrieved 26 January 2019^
  8. Pact to Fix King/Drew Is Extended - Los Angeles Times. Articles.latimes.com (2005-10-26). Retrieved on 2010-11-15.^
  9. King/Drew Fails Final U.S. Test. chicagotribune.com (2006-09-23). Retrieved on 2010-11-15.^
  10. L.A. hospital scales down to small size - Los Angeles Times. Articles.latimes.com (2007-03-01). Retrieved on 2010-11-15.^
  11. UPDATE 1-Navigant Consulting appoints new CEO Reuters, 23 February 2012, retrieved 26 January 2019^
  12. Alex Kacik. Navigant, Baptist Health South Florida form revenue-cycle management joint venture Modern Healthcare, 10 April 2018, retrieved 28 December 2018^
  13. Heather Landi. Baptist Health South Florida, Navigant Form RCM Joint Venture Healthcare Informatics, 11 April 2018, retrieved 28 December 2018^
  14. Colin Kellaher. Navigant to Sell Units to Ankura for $470 Million The Wall Street Journal, 25 June 2018, retrieved 22 November 2018^
  15. Andy Medici. Ankura's purchase of a slice of Navigant makes it a big consulting player. So what happens next? Washington Business Journal, 27 August 2018, retrieved 22 November 2018^
  16. Lynn Graebner. RMI sells to Illinois firm for $82 million Sacramento Business Journal, 17 August 1997, retrieved 21 November 2018^
  17. Jacqueline Fitzgerald. Metzler Deal May Help Earnings Chicago Tribune, 19 August 1997, retrieved 21 November 2018^
  18. George Gunset. Metzler, Peterson Consulting Join Chicago Tribune, 2 September 1998, retrieved 21 November 2018^
  19. Navigant Consulting acquires The Hunter Group Tampa Bay Business Journal, 24 September 2002, retrieved 21 November 2018^
  20. Kelly Quigley. Navigant picks up consultancy Crain's Chicago Business, 2 February 2004, retrieved 21 November 2018^
  21. Navigant Consulting, Inc. Acquires Precept Programme Management Limited Business Wire, 24 March 2006, retrieved 21 November 2018^
  22. H. Lee Murphy. Cash hoards help M&A rise in 1Q Crain's Chicago Business, 15 April 2006, retrieved 22 November 2018^
  23. Navigant Consulting acquires HJA Consulting Hydro Review, 10 August 2007, retrieved 22 November 2018^
  24. Andis Robeznieks. Navigant buys healthcare consultancy Bard Group Modern Healthcare, 12 January 2009, retrieved 22 November 2018^
  25. Mark Jaffe. Summit Blue is bought by Navigant The Denver Post, 11 January 2010, retrieved 22 November 2018^
  26. Navigant to Buy Daylight Forensic Dealbook, 17 May 2010, retrieved 22 November 2018^
  27. Navigant Acquires Healthcare Consultant Ethos Partners For $37 Million Proactive Investors, 4 October 2010, retrieved 22 November 2018^
  28. Pike Research acquired by Navigant Consulting Portland Business Journal, 11 July 2012, retrieved 22 November 2018^
  29. Maureen McKinney. Navigant expands health consulting business in deal Modern Healthcare, 3 October 2012, retrieved 22 November 2018^
  30. Andrew L. Wang. Navigant buys back-office health care vendor Cymetrix Crain's Chicago Business, 15 May 2014, retrieved 22 November 2018^
  31. US firm acquires RevenueMed of Technopark The Hindu BusinessLine, 24 February 2015, retrieved 22 November 2018^
  32. Claire Bushey. Navigant acquires Chicago firm in health care buying spree Crain's Chicago Business, 4 January 2016, retrieved 22 November 2018^
  33. BRIEF-Navigant acquires Dymedex Consulting to expand life sciences practice Reuters, 1 September 2016, retrieved 22 November 2018^
  34. BRIEF-Navigant acquires Europe's Ecofys Reuters, 7 November 2016, retrieved 22 November 2018^
  35. BRIEF-Navigant acquires substantially all of the assets of Quorum Consulting Reuters, 2 November 2017, retrieved 22 November 2018^
  36. Alan Kline. 'North of $10 billion': Guidehouse CEO Scott McIntyre lays out ambitious growth plan www.bizjournals.com, 9 December 2022, retrieved 7 August 2023^
  37. Tristan Navera. Guidehouse to set up new N. Va. HQ with 1,550 jobs www.bizjournals.com, 20 May 2021, retrieved 7 August 2023^