Lake Capital has sold Stamford, Conn.-based Archstone Consulting to The Hackett Group Inc. (Nasdaq: HCKT). No financial terms were disclosed.
The Hackett Group, Inc. (Nasdaq:HCKT), a global strategic advisory firm, today announced the acquisition of Stamford, Connecticut based Archstone Consulting, LLC (“Archstone”). Archstone is a leading strategy, operations and CFO advisory consultancy with primary focus in the consumer goods, retail, manufacturing, pharmaceutical and utility industry sectors.
This acquisition brings many strategic synergies to Hackett. Through its 130+ highly skilled associates throughout the U.S. and Western Europe, Archstone will provide Hackett with new industry-focused supply chain and procurement consulting capabilities which will strongly complement Hackett’s existing offerings. Additionally, Archstone adds CFO centric capabilities which will significantly expand Hackett’s Enterprise Performance Management transformation capabilities and which will strongly complement Hackett’s existing Hyperion/Oracle EPM implementation offerings. Archstone will also further enhance the IT Strategy and BPO Advisory capabilities within Hackett.
The Hackett Group brand is recognized globally for its ability to use our proprietary benchmarking data and best practice implementation capabilities to help clients achieve sustainable performance improvement. Archstone uses their strong industry understanding to transform client organizations through the design and implementation of scalable operations and CFO centric solutions. As one combined company, Archstone will now broaden Hackett’s ability to serve clients across the entire enterprise.
With approximately 80% of its revenues and associates located in the U.S., Archstone significantly expands Hackett’s service delivery capabilities in the Northeast, Midwest and Western regions of the USA. Additionally, Archstone will further expand Hackett’s presence in the UK and in the Netherlands.
Todd Lavieri, CEO of Archstone, will lead the new Global Industries and Strategic Account Management effort for Hackett. “The Archstone – Hackett combination offers our clients a significantly expanded set of offerings along with our rich industry perspective and collaborative client service focus,” stated Lavieri. “Having access to Hackett’s proprietary intellectual capital allows us to further enhance our value proposition and serve clients in a way that is truly unique to Hackett.”
“Archstone adds many strategic dimensions to our organization,” said Ted A. Fernandez, Chairman and CEO of The Hackett Group. “In addition to a very talented group of principals and associates with strong industry focus, we are acquiring a leading consulting brand in the strategy, operations and CFO areas which strongly complement our existing offerings. We are also delighted to welcome Terry Graunke, Chairman of Lake Capital and Archstone’s largest shareholder, to the Board of Directors of The Hackett Group.”
About The Hackett Group, Inc.
The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic advisory firm, is a leader in best practice advisory, benchmarking, and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insights from more than 4,000 benchmarking engagements, executives use The Hackett Group’s empirically-based approach to quickly define and implement initiatives to enable world-class performance. Through its REL brand, The Hackett Group offers working capital solutions focused on delivering significant cash flow improvements. Through its Hackett Technology Solutions group, The Hackett Group offers business application consulting services that help maximize returns on IT investments. The Hackett Group has worked with 2,700 major corporations and government agencies, including 97% of the Dow Jones Industrials, 73% of the Fortune 100, 73% of the DAX 30 and 50% of the FTSE 100.
Founded in 1991, The Hackett Group was acquired by Answerthink, Inc. in 1997. Answerthink was renamed The Hackett Group, Inc. in 2008. The Hackett Group has global offices in the United States, Europe and Asia/Pacific.
More information on The Hackett Group is available: by phone at (770) 225-7300; by e-mail at email@example.com; or on the Web at www.thehackettgroup.com.
About Archstone Consulting, LLC
Archstone Consulting is a leading Strategy and Change, Operations and CFO Advisory management consulting firm, specializing in the consumer products, retail, life sciences and general manufacturing industries. Archstone Consulting helps companies restructure and reduce their costs, while improving their business processes and operations. Headquartered in Stamford, Connecticut, Archstone Consulting has offices in Amsterdam, Chicago, New York and San Francisco. For additional information, please visit us at www.archstoneconsulting.com.