Vaco, a global talent and solutions firm, has acquired MorganFranklin Consulting, a firm that provides accounting, technology, consulting and other professional services, creating a combined $750 million professional services firm.
MorganFranklin is based in the Washington, D.C., area and has regional offices in Atlanta, New York, San Francisco and Los Angeles, while serving clients around the world. As part of the acquisition, MorganFranklin Consulting will maintain its own name, brand and identity.
MorganFranklin will continue to provide expert accounting services, including technical accounting, financial reporting, private equity services, finance transformation and risk advisory, to clients as it has for over 20 years, and will serve as the national consulting platform for Vaco.
Vaco is a portfolio company of Olympus Partners. The transaction closed on July 31. Financial terms were not disclosed.
Chris Mann will continue to serve as CEO and managing partner of MorganFranklin and will work closely with Vaco CEO Jerry Bostelman.
"Vaco has always striven to be the most consultative talent and solutions firm in the industry and with this union we can deliver an unparalleled complete spectrum of services," Bostelman said in a statement. "The chemistry we felt with the talented MorganFranklin team has only intensified with each conversation about how we will grow and serve together."
The combined organization will have more than 6,500 professionals across the globe.
"What has always set MorganFranklin apart is the passion, experience and collaboration that our people bring to helping solve complex transformational challenges for our clients," said Mann. "As Vaco's consulting platform, we become part of a global professional services organization enabling increased scale to serve our clients, support our people and accelerate our growth as a premier global consulting brand.”
