Private investment firm Bain Capital is close to agreeing a deal to acquire Guidehouse, a consulting firm that advises government organisations and businesses, from Veritas Capital for $5.3bn including debt, according to a report by The Wall Street Journal.
The report cites unnamed sources familiar with the matter as revealing that, barring any last minute delays, an agreement could be announced as soon as Monday.
Guidehouse, formerly the US public-sector consulting business of Big Four accounting firm PricewaterhouseCoopers which was acquired by Veritas Capital for an undisclosed fee in 2018, provides management and technology consulting and other services to federal-government agencies including the Departments of Defense, Homeland Security and Veterans Affairs, and to state and local governments, as well as businesses.
The report cites data from Source Global Research as highlighting that the Guidehouse deal comes as the pace of consulting revenue growth slows for many providers of these services, with US consulting expected to grow by 8% to $94bn this year, down from 10.5% last year and from 11.1% in 2021.
