Guidehouse
{{short description|American management consulting firm}}
{{Infobox company
| image =
| name = Guidehouse, Inc.
| type = Private
| traded_as = {{ubl|{{NYSE was|NCI}}|{{NASDAQ was|METZ}}}}
| location = Tysons, Virginia
(Global)
| revenue = $3 billion
| area_served = Worldwide
| key_people = Scott McIntyre (CEO)
| num_employees = 16,500 (2018)
| industry = Professional services
| owner = {{ubl|Bain Capital|{{smaller|(2023–present)}}}}
| website = {{URL|https://guidehouse.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.{{Cite web|url=https://www.channele2e.com/news/bain-capital-finalizes-acquisition-of-guidehouse-for-5-3-billion|title=Bain Capital Finalizes Acquisition of Guidehouse for $5.3 Billion|work=ChannelE2E|date=15 December 2023 |access-date=2023-12-21|language=en}}
History
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.{{cite news |last1=Terry |first1=Robert |title=PwC finds a buyer for its government consulting practice |url=https://www.bizjournals.com/washington/news/2018/02/15/pwc-finds-a-buyer-for-its-government-consulting.html |access-date=7 August 2023 |work=www.bizjournals.com |date=15 February 2018}} Deborah Ricci was appointed as its CFO.{{cite news |last1=Terry |first1=Robert |title=PwC's Veritas-owned U.S. public sector business now has a name |url=https://www.bizjournals.com/washington/news/2018/07/23/pwc-s-veritas-owned-u-s-public-sector-business-now.html |access-date=7 August 2023 |work=www.bizjournals.com |date=23 July 2018}}
After the acquisition, it then operated as the independent company "Guidehouse".{{cite news |last1=Terry |first1=Robert |title=PwC finds a buyer for its government consulting practice |url=https://www.bizjournals.com/washington/news/2018/02/15/pwc-finds-a-buyer-for-its-government-consulting.html |access-date=7 August 2023 |work=www.bizjournals.com |date=15 February 2018}} Bloomberg reported that Guidehouse had an estimated valuation of approximately $7 billion in 2023.{{cite news |last1=Porter |first1=Kiel |title=Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse |url=https://www.bloomberg.com/news/articles/2022-09-29/veritas-capital-is-said-to-mull-7-billion-guidehouse-exit |access-date=7 August 2023 |work=Bloomberg.com |date=29 September 2022 |language=en}}
The company acquired and combined with Navigant Consulting Inc in August 2019 for $1.1 billion.{{cite news |last1=Kellaher |first1=Colin |title=Navigant Consulting to Be Acquired for $1.1 Billion |url=https://www.wsj.com/articles/navigant-consulting-to-be-acquired-for-1-1-billion-11564768276 |access-date=7 August 2023 |work=Wall Street Journal |date=2 August 2019}} A year after purchasing Dovel Technologies, it acquired Grant Thornton LLP’s public sector advisory practice in 2022.{{cite news |last1=Porter |first1=Kiel |title=Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse |url=https://www.bloomberg.com/news/articles/2022-09-29/veritas-capital-is-said-to-mull-7-billion-guidehouse-exit |access-date=7 August 2023 |work=Bloomberg.com |date=29 September 2022 |language=en}}
In November 2023, Bain Capital agreed to acquire Guidehouse for $5 billion.{{cite web|title=Bain close to buying consulting firm Guidehouse in $5 bln deal- WSJ|url=https://www.reuters.com/markets/deals/bain-close-buying-consulting-firm-guidehouse-5-bln-deal-wsj-2023-11-06/|website=Reuters|date=November 6, 2023}} The purchase was completed the following month.
=Navigant Consulting=
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.{{cite news |title=Navigant Consulting Names New Chairman and CFO |url=https://www.wsj.com/articles/SB959031738622770641 |accessdate=26 January 2019 |work=The Wall Street Journal |date=23 May 2000}}
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.[https://www.latimes.com/archives/la-xpm-2005-oct-26-me-kingdrew26-story.html Pact to Fix King/Drew Is Extended - Los Angeles Times]. Articles.latimes.com (2005-10-26). Retrieved on 2010-11-15. Despite Navigant's work, King-Harbor failed to meet federal standards for Medicare funding in 2006,[http://www.chicagotribune.com/topic/la-me-kingdrew23sep23,0,712841.story King/Drew Fails Final U.S. Test]. chicagotribune.com (2006-09-23). Retrieved on 2010-11-15. prompting the county to undergo a radical restructuring plan for the hospital.[https://www.latimes.com/archives/la-xpm-2007-mar-01-me-hospital1-story.html L.A. hospital scales down to small size - Los Angeles Times]. Articles.latimes.com (2007-03-01). Retrieved on 2010-11-15.
In 2012, Julie Howard replaced Goodyear as CEO.{{cite news |title=UPDATE 1-Navigant Consulting appoints new CEO |url=https://www.reuters.com/article/navigant-idUSL4E8DN53W20120223 |accessdate=26 January 2019 |work=Reuters |date=23 February 2012}} In April 2018, the company partnered with Baptist Health South Florida to form a joint venture providing revenue cycle management to healthcare organizations.{{cite news |last1=Kacik |first1=Alex |title=Navigant, Baptist Health South Florida form revenue-cycle management joint venture |url=https://www.modernhealthcare.com/article/20180410/NEWS/180419995 |accessdate=28 December 2018 |work=Modern Healthcare |date=10 April 2018}}{{cite news |last1=Landi |first1=Heather |title=Baptist Health South Florida, Navigant Form RCM Joint Venture |url=https://www.healthcare-informatics.com/news-item/revenue-cycle-management/baptist-health-south-florida-navigant-form-rcm-joint-venture |accessdate=28 December 2018 |work=Healthcare Informatics |date=11 April 2018}} The dispute and investigative division of the company was sold to Ankura Consulting in August 2018.{{cite news |last1=Kellaher |first1=Colin |title=Navigant to Sell Units to Ankura for $470 Million |url=https://www.wsj.com/articles/navigant-to-sell-units-to-ankura-for-470-million-1529937847 |accessdate=22 November 2018 |work=The Wall Street Journal |date=25 June 2018 |url-access=subscription }}{{cite news |last1=Medici |first1=Andy |title=Ankura's purchase of a slice of Navigant makes it a big consulting player. So what happens next? |url=https://www.bizjournals.com/washington/news/2018/08/27/ankura-s-purchase-of-a-slice-of-navigant-makes-it.html |accessdate=22 November 2018 |work=Washington Business Journal |date=27 August 2018}}
class="wikitable sortable mw-collapsible"
|+{{nowrap|Navigant Consulting Acquisitions}} |
scope="col" style="width:50px" | Date
! scope="col" | Company ! scope="col" | Business ! scope="col" style="text-align:right" | Price if known |
---|
{{dts|1997|Aug|17|format=my}}
| Resource Management International Inc.{{cite news |last1=Graebner |first1=Lynn |title=RMI sells to Illinois firm for $82 million |url=https://www.bizjournals.com/sacramento/stories/1997/08/18/story1.html |accessdate=21 November 2018 |work=Sacramento Business Journal |date=17 August 1997 |url-access=registration }} | engineering | style="text-align:right;"|${{nts|82000000}} |
{{dts|1997|Aug|19|format=my}}
| energy-related consulting | {{n/a |
}} |
{{dts|1998|Sep|02|format=my}}
| information services | style="text-align:right;"|${{nts|160000000}} |
{{dts|2002|Sep|24|format=my}}
| health care consulting | style="text-align:right;"|${{nts|25400000}} |
{{dts|2004|Feb|02|format=my}}
| business and litigation consulting | style="text-align:right;"|${{nts|90000000}} |
{{dts|2006|Mar|24|format=my}}
| Precept Programme Management Limited{{cite press release |title=Navigant Consulting, Inc. Acquires Precept Programme Management Limited |url=https://www.businesswire.com/news/home/20060324005223/en/Navigant-Consulting-Acquires-Precept-Programme-Management-Limited |accessdate=21 November 2018 |work=Business Wire |date=24 March 2006}}{{cite news |last1=Murphy |first1=H. Lee |title=Cash hoards help M&A rise in 1Q |url=https://www.chicagobusiness.com/article/20060415/ISSUE01/100025651/cash-hoards-help-m-a-rise-in-1q |accessdate=22 November 2018 |work=Crain's Chicago Business |date=15 April 2006}} | dispute advisory and program management consulting | style="text-align:right;"|${{nts|50000000}} |
{{dts|2007|Aug|10|format=my}}
|hydroelectric performance | {{n/a |
}} |
{{dts|2009|Jan|12|format=my}}
|healthcare consulting |{{n/a |
}} |
{{dts|2010|Jan|11|format=my}}
|utilities consulting |{{n/a |
}} |
{{dts|2010|May|17|format=my}}
| Daylight Forensic & Advisory{{cite news |title=Navigant to Buy Daylight Forensic |url=https://dealbook.nytimes.com/2010/05/17/navigant-to-buy-daylight-forensic/ |accessdate=22 November 2018 |work=Dealbook |agency=The New York Times |date=17 May 2010}} | financial consulting | style="text-align:right;"|${{nts|40000000}} |
{{dts|2010|Oct|04|format=my}}
| healthcare management consulting | style="text-align:right;"|${{nts|37000000}} |
{{dts|2012|Jul|11|format=my}}
|energy technology |{{n/a |
}} |
{{dts|2012|Oct|03|format=my}}
|life sciences consulting |{{n/a |
}} |
{{dts|2014|May|15|format=my}}
| healthcare revenue management | style="text-align:right;"|${{nts|100000000}} |
{{dts|2015|Feb|24|format=my}}
|healthcare revenue management |{{n/a |
}} |
{{dts|2016|Jan|04|format=my}}
| healthcare revenue management | style="text-align:right;"|${{nts|52000000}} |
{{dts|2016|Jan|04|format=my}}
| life sciences | {{n/a |
}} |
{{dts|2016|Nov|07|format=my}}
| energy and sustainability | {{n/a |
}} |
{{dts|2017|Nov|02|format=my}}
| Quorum Consulting{{cite news |title= BRIEF-Navigant acquires substantially all of the assets of Quorum Consulting |url=https://www.reuters.com/article/brief-navigant-acquires-substantially-al/brief-navigant-acquires-substantially-all-of-the-assets-of-quorum-consulting-idUSASB0BQTT |accessdate=22 November 2018 |work=Reuters |date=2 November 2017}} | life sciences | {{n/a |
}} |
Operations
After it was sold by PricewaterhouseCoopers, Guidehouse leadership was announced, including Chief Executive Officer Scott McIntyre{{cite news |last1=Terry |first1=Robert |title=PwC finds a buyer for its government consulting practice |url=https://www.bizjournals.com/washington/news/2018/02/15/pwc-finds-a-buyer-for-its-government-consulting.html |access-date=7 August 2023 |work=www.bizjournals.com |date=15 February 2018}} and Chief Financial Officer Deborah Ricci.{{cite news |last1=Terry |first1=Robert |title=PwC's Veritas-owned U.S. public sector business now has a name |url=https://www.bizjournals.com/washington/news/2018/07/23/pwc-s-veritas-owned-u-s-public-sector-business-now.html |access-date=7 August 2023 |work=www.bizjournals.com |date=23 July 2018}}
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.{{cite news |last1=Terry |first1=Robert |title=PwC's Veritas-owned U.S. public sector business now has a name |url=https://www.bizjournals.com/washington/news/2018/07/23/pwc-s-veritas-owned-u-s-public-sector-business-now.html |access-date=7 August 2023 |work=www.bizjournals.com |date=23 July 2018}}
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.{{cite news |last1=Kline |first1=Alan |title='North of $10 billion': Guidehouse CEO Scott McIntyre lays out ambitious growth plan |url=https://www.bizjournals.com/washington/news/2022/12/09/scott-mcintyre-guidehouse.html |access-date=7 August 2023 |work=www.bizjournals.com |date=9 December 2022}}
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.{{cite news |last1=Navera |first1=Tristan |title=Guidehouse to set up new N. Va. HQ with 1,550 jobs |url=https://www.bizjournals.com/washington/news/2021/05/10/fairfax-county-lands-1550-job-hq.html |access-date=7 August 2023 |work=www.bizjournals.com |date=20 May 2021}}
References
{{reflist}}
External links
{{Commons category|Guidehouse}}
- {{official|https://guidehouse.com}}
{{Finance links historical
| name = Navigant Consulting Inc.
| sec_cik = 0001019737
}}
{{authority control}}
Category:Companies formerly listed on the New York Stock Exchange
Category:Companies formerly listed on the Nasdaq
Category:American companies established in 1983
Category:Consulting firms established in 1983
Category:Management consulting firms of the United States
Category:1996 initial public offerings
Category:Companies based in Chicago
Category:1983 establishments in the United States
Category:1983 establishments in Illinois
Category:Companies established in 1983
Category:2019 mergers and acquisitions