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Guidehouse

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(Redirected from Navigant Consulting)
Guidehouse, Inc.
Company typePrivate
IndustryProfessional services
HeadquartersTysons, Virginia
(Global)
Area served
Worldwide
Key people
Scott McIntyre (CEO)
Revenue$3 billion
Owner
Number of employees
16,500 (2018)
Websiteguidehouse.com

Guidehouse, Inc. is an American consulting firm for businesses and government entities. It is the successor to PricewaterhouseCoopers LLP’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

[edit]

Guidehouse began as PricewaterhouseCoopers' U.S. public sector business and in 2018, New York private equity firm Veritas Capital acquired the company. 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.

[edit]

Navigant Consulting was formed in 1983 by Richard Metzler as The Metzler Group Inc.; it provided management consultancy to businesses in the energy and other regulated industries. It was listed on NASDAQ in October 1996, under the ticker symbol METZ. In July 1999, the name was changed to Navigant Consulting, Inc.; the stock was listed on the New York Stock Exchange soon afterwards. William M. Goodyear became chairman and CEO of the company in 2000.[7]

In 2005, the company was accused of overcharging Los Angeles County in a contract to work at Martin Luther King Jr.-Harbor Hospital in Willowbrook, CA. County auditors rejected over $206,000 in expenses, including unauthorized first-class airfares to and from Los Angeles, and determined that Navigant had deleted from their to-do list a number of tasks and goals that they had failed to accomplish.[8] Despite Navigant's work, King-Harbor failed to meet federal standards for Medicare funding in 2006,[9] prompting the county to undergo a radical restructuring plan for the hospital.[10]

In 2012, Julie Howard replaced Goodyear as CEO.[11] In April 2018, the company partnered with Baptist Health South Florida to form a joint venture providing revenue cycle management to healthcare organizations.[12][13] The dispute and investigative division of the company was sold to Ankura Consulting in August 2018.[14][15]

Navigant Consulting Acquisitions
Date Company Business Price if known
Aug 1997 Resource Management International Inc.[16] engineering $82,000,000
Aug 1997 Reed Consulting Group[17] energy-related consulting -
Sep 1998 Peterson Consulting[18] information services $160,000,000
Sep 2002 The Hunter Group[19] health care consulting $25,400,000
Feb 2004 Tucker Alan[20] business and litigation consulting $90,000,000
Mar 2006 Precept Programme Management Limited[21][22] dispute advisory and program management consulting $50,000,000
Aug 2007 HJA Consulting[23] hydroelectric performance -
Jan 2009 The Bard Group[24] healthcare consulting -
Jan 2010 Summit Blue Consulting[25] utilities consulting -
May 2010 Daylight Forensic & Advisory[26] financial consulting $40,000,000
Oct 2010 Ethos Partners[27] healthcare management consulting $37,000,000
Jul 2012 Pike Research[28] energy technology -
Oct 2012 Easton Associates[29] life sciences consulting -
May 2014 Cymetrix Corp.[30] healthcare revenue management $100,000,000
Feb 2015 RevenueMed[31] healthcare revenue management -
Jan 2016 McKinnis Consulting Services[32] healthcare revenue management $52,000,000
Jan 2016 Dymedex Consulting[33] life sciences -
Nov 2016 Ecofys[34] energy and sustainability -
Nov 2017 Quorum Consulting[35] life sciences -

Operations

[edit]

After it was sold by PricewaterhouseCoopers, 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]

References

[edit]
  1. ^ "Bain Capital Finalizes Acquisition of Guidehouse for $5.3 Billion". ChannelE2E. Retrieved 2023-12-21.
  2. ^ a b c Terry, Robert (15 February 2018). "PwC finds a buyer for its government consulting practice". www.bizjournals.com. Retrieved 7 August 2023.
  3. ^ a b c Terry, Robert (23 July 2018). "PwC's Veritas-owned U.S. public sector business now has a name". www.bizjournals.com. Retrieved 7 August 2023.
  4. ^ a b Porter, Kiel (29 September 2022). "Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse". Bloomberg.com. Retrieved 7 August 2023.
  5. ^ Kellaher, Colin (2 August 2019). "Navigant Consulting to Be Acquired for $1.1 Billion". Wall Street Journal. 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. ^ Kacik, Alex (10 April 2018). "Navigant, Baptist Health South Florida form revenue-cycle management joint venture". Modern Healthcare. Retrieved 28 December 2018.
  13. ^ Landi, Heather (11 April 2018). "Baptist Health South Florida, Navigant Form RCM Joint Venture". Healthcare Informatics. Retrieved 28 December 2018.
  14. ^ Kellaher, Colin (25 June 2018). "Navigant to Sell Units to Ankura for $470 Million". The Wall Street Journal. Retrieved 22 November 2018.
  15. ^ Medici, Andy (27 August 2018). "Ankura's purchase of a slice of Navigant makes it a big consulting player. So what happens next?". Washington Business Journal. Retrieved 22 November 2018.
  16. ^ Graebner, Lynn (17 August 1997). "RMI sells to Illinois firm for $82 million". Sacramento Business Journal. Retrieved 21 November 2018.
  17. ^ Fitzgerald, Jacqueline (19 August 1997). "Metzler Deal May Help Earnings". Chicago Tribune. Retrieved 21 November 2018.
  18. ^ Gunset, George (2 September 1998). "Metzler, Peterson Consulting Join". Chicago Tribune. Retrieved 21 November 2018.
  19. ^ "Navigant Consulting acquires The Hunter Group". Tampa Bay Business Journal. 24 September 2002. Retrieved 21 November 2018.
  20. ^ Quigley, Kelly (2 February 2004). "Navigant picks up consultancy". Crain's Chicago Business. Retrieved 21 November 2018.
  21. ^ "Navigant Consulting, Inc. Acquires Precept Programme Management Limited". Business Wire (Press release). 24 March 2006. Retrieved 21 November 2018.
  22. ^ Murphy, H. Lee (15 April 2006). "Cash hoards help M&A rise in 1Q". Crain's Chicago Business. Retrieved 22 November 2018.
  23. ^ "Navigant Consulting acquires HJA Consulting". Hydro Review. 10 August 2007. Retrieved 22 November 2018.
  24. ^ Robeznieks, Andis (12 January 2009). "Navigant buys healthcare consultancy Bard Group". Modern Healthcare. Retrieved 22 November 2018.
  25. ^ Jaffe, Mark (11 January 2010). "Summit Blue is bought by Navigant". The Denver Post. Retrieved 22 November 2018.
  26. ^ "Navigant to Buy Daylight Forensic". Dealbook. The New York Times. 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. ^ McKinney, Maureen (3 October 2012). "Navigant expands health consulting business in deal". Modern Healthcare. Retrieved 22 November 2018.
  30. ^ Wang, Andrew L. (15 May 2014). "Navigant buys back-office health care vendor Cymetrix". Crain's Chicago Business. Retrieved 22 November 2018.
  31. ^ "US firm acquires RevenueMed of Technopark". The Hindu BusinessLine. 24 February 2015. Retrieved 22 November 2018.
  32. ^ Bushey, Claire (4 January 2016). "Navigant acquires Chicago firm in health care buying spree". Crain's Chicago Business. 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. ^ Kline, Alan (9 December 2022). "'North of $10 billion': Guidehouse CEO Scott McIntyre lays out ambitious growth plan". www.bizjournals.com. Retrieved 7 August 2023.
  37. ^ Navera, Tristan (20 May 2021). "Guidehouse to set up new N. Va. HQ with 1,550 jobs". www.bizjournals.com. Retrieved 7 August 2023.
[edit]
Wikimedia Commons has media related to Guidehouse.
  • Official website
    • Historical business data for Navigant Consulting Inc.:
    • SEC filings
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