BrazilStrategy consultancy EY-Parthenon acquires T-Plus Consulting
Global strategy consulting firm EY-Parthenon has acquired T-Plus Consulting, marking its first acquisition in Asia since the firm was formed eight years ago.
The bolt-on of T-Plus Consulting adds a team of around 30 partners and consultants (according to data by Consultancy.org) to EY’s strategic outfit in South Korea. “The addition of T-Plus Consulting will help EY Korea make a more meaningful impact in the Korean market,” said Jae Won Choi, the leader of EY-Parthenon in South Korea.
Founded in 2003, T-Plus Consulting is a management consulting firm specialised in business growth, mergers and acquisitions, and value creation. The firm works for corporates across sectors including consumer goods, retail, healthcare, waste, manufacturing and technology, as well as private equity.
With the addition of T-Plus Consulting, EY-Parthenon will expand its strategy-focused offerings in the B2C and B2B industries in South Korea. The increased capabilities and capacity will support the competitive position of EY, particularly in relation to mergers and acquisitions and value creation strategies for acquiring companies.
The deal comes three months after EY-Parthenon acquired CMA Strategy Consulting, a US-headquartered firm focused on the technology, media, and telecom sectors. Meanwhile, in 2020, the strategy consulting wing of EY bought Port Jackson Partners in Australia, and in the years previous, the firm acquired the Dutch, German and French practices of OC&C Strategy Consultants.
EY-Parthenon was formed in 2014 when EY purchased The Parthenon Group (notably after coming close to acquiring Roland Berger). Under the wings of Big Four giant EY, EY-Parthenon has seen stellar growth, growing for a 350-strong boutique to more than 7,000 strategy consultants today.
For Dongbeom Byun, the founder of T-Plus Consulting, and now a partner at EY-Parthenon, it was the scale and depth of EY-Parthenon’s offering that motivated the joining of forces. “We are delighted to join EY-Parthenon, where we will be able to maintain our deep client relationships by providing more effective and expanded customer services as a result of the synergies between T-Plus’ strategic consulting and the experience and talent across the global EY network.”
