Chicago-based consulting firm Navigant Consulting Inc. is set to be acquired by Guidehouse, a Washington D.C.-based management consulting firm for $1.1 billion.
Under the terms of the agreement, Navigant shareholders will receive $28 in cash per share. The deal is expected to occur in the fourth quarter.
Upon closing, the combined company will be led by Scott McIntyre, CEO of Guidehouse, and practice team leaders from both companies.
“Following a review of strategic alternatives, including soliciting offers from a diverse group of potential strategic and financial partners, Navigant’s board unanimously agreed that a sale to Guidehouse is in the best interest of Navigant shareholders, delivering immediate and certain value at an attractive premium," Navigant CEO Julie Howard said in a statement. "The combination of Navigant and Guidehouse will create a powerful, global consulting organization characterized by deep industry expertise and leading technical know-how. Our companies are aligned with similar cultures and strong core values. Through the integration of our two firms, our employees will enjoy expanded growth opportunities, and our combined clients will access a wider array of expertise, tools, and technologies to help them achieve their goals.”
Howard reportedly has been offered a seat on the Guidehouse board.
Jefferies LLC acted as exclusive financial adviser to Navigant. Sidley Austin LLP served as legal counsel to Navigant.
Schulte Roth & Zabel LLP served as legal counsel to Guidehouse and Veritas Capital.
Guidehouse is a portfolio company of New York private equity firm Veritas Capital.
