Kearney acquires Nordic procurement consulting agency Prokura

Global consulting business Kearney has acquired Prokura, a 60-powerful procurement and source chain consultancy with places of work in Denmark, Norway and Germany.

Founded in 2008, and led by partners with a qualifications at McKinsey, Boston Consulting Team and Approach&, Prokura has in excess of the earlier 13 years grown into a leading participant in its discipline in the Nordic consulting market.

The business aids public and non-public sector organisations with reworking their procurement and source chain functions, from system and style by way of to execution. The consulting business functions throughout sectors, with Danfoss, Maersk and Novo Nordisk amongst some of its key consumers.

Now part of Kearney, Prokura will go on to run underneath its possess model, in a comparable system to the 1 used by Boston Consulting Group for its procurement division Inverto. “With our backing and aid, Prokura will have the perfect platform for progress and successful European enlargement,” explained Geir Olsen, Kearney’s European boss.

Prokura will perform closely with Kearney’s world wide Strategic Functions and Procurement procedures, which together residence all over 650 procurement and supply chain gurus worldwide. Globally, privately-held Kearney (started in 1937 by ex-McKinsey male Tom Kearney formerly A.T. Kearney) has a lot more than 4,000 consultants and personnel throughout 60+ offices.

In accordance to Olsen, the deal “consolidates our position as the current market-foremost procurement and offer chain consultants”. Indeed, procurement is just one of Kearney’s sweet spots, and the organization retains high positions on a number of leading consulting rankings for procurement like those of Consultancy.org (world), Financial Moments (British isles), Forbes (US) and Brand Eins (Germany).

Christian Bang-Pedersen, a associate at Prokura (ex-McKinsey), stated. “With the backing and aid of Kearney’s international community and potent abilities, the way will be paved for additional advancement and expansion in Europe. This is a sturdy ambition and a journey we are on the lookout ahead to embarking on.”

Other partners of Prokura are Jens Holbek, Christian Svane and Thor Bang-Ellingsen.

A unusual move for Kearney

The offer is a uncommon transfer for Kearney, which ordinarily prefers natural growth to inorganic bolt-ons. Above the previous decade, the consultancy closed just two acquisitions: that of info analytics consultancy Cervello in the US (2019), and Quintel in the Netherlands (2011).

In 2008, the agency arrived shut to merging with Booz & Business, whilst the deal at some point fell as a result of. A few decades later on, Significant Four giant PwC snapped up Booz for $1 billion.

In other new main deals in the Nordic consulting scene, Valcon joined First Consulting late 2020 (and since then the team has rebranded as Valcon), and Bain & Business acquired household-developed tactic home Qvartz.