Guidehouse Explained

Guidehouse, Inc.
Type:Private
Location:Tysons, Virginia
(Global)
Revenue:$3 billion
Area Served:Worldwide
Key People:Scott McIntyre
Num Employees:16,500 (2018)
Industry:Professional services

Guidehouse 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.[1]

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.[2] Deborah Ricci was appointed as its CFO.[3]

After the acquisition, it then operated as the independent company "Guidehouse".[4] Bloomberg reported that Guidehouse had an estimated valuation of approximately $7 billion in 2023.[5]

The company acquired and combined with Navigant Consulting Inc in August 2019 for $1.1 billion.[6] A year after purchasing Dovel Technologies, it acquired Grant Thornton LLP’s public sector advisory practice in 2022.[7]

In November 2023, Bain Capital agreed to acquire Guidehouse for $5 billion.[8] 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.[9]

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.[10] Despite Navigant's work, King-Harbor failed to meet federal standards for Medicare funding in 2006,[11] prompting the county to undergo a radical restructuring plan for the hospital.[12]

In 2012, Julie Howard replaced Goodyear as CEO.[13] In April 2018, the company partnered with Baptist Health South Florida to form a joint venture providing revenue cycle management to healthcare organizations.[14] [15] The dispute and investigative division of the company was sold to Ankura Consulting in August 2018.[16] [17]

DateCompanyBusinessPrice if known
Resource Management International Inc.[18] engineering$
Reed Consulting Group[19] energy-related consulting
Peterson Consulting[20] information services$
The Hunter Group[21] health care consulting$
Tucker Alan[22] business and litigation consulting$
Precept Programme Management Limited[23] [24] dispute advisory and program management consulting$
HJA Consulting[25] hydroelectric performance
The Bard Group[26] healthcare consulting
Summit Blue Consulting[27] utilities consulting
Daylight Forensic & Advisory[28] financial consulting$
Ethos Partners[29] healthcare management consulting$
Pike Research[30] energy technology
Easton Associates[31] life sciences consulting
Cymetrix Corp.[32] healthcare revenue management$
RevenueMed[33] healthcare revenue management
McKinnis Consulting Services[34] healthcare revenue management$
Dymedex Consulting[35] life sciences
Ecofys[36] energy and sustainability
Quorum Consulting[37] life sciences

Operations

After it was sold by PricewaterhouseCoopers, Guidehouse leadership was announced, including Chief Executive Officer Scott McIntyre[38] and Chief Financial Officer Deborah Ricci.[39] 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.[40]

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.[41]

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.[42]

Notes and References

  1. Web site: Bain Capital Finalizes Acquisition of Guidehouse for $5.3 Billion. ChannelE2E. 2023-12-21. en.
  2. News: Terry . Robert . PwC finds a buyer for its government consulting practice . 7 August 2023 . www.bizjournals.com . 15 February 2018.
  3. News: Terry . Robert . PwC’s Veritas-owned U.S. public sector business now has a name . 7 August 2023 . www.bizjournals.com . 23 July 2018.
  4. News: Terry . Robert . PwC finds a buyer for its government consulting practice . 7 August 2023 . www.bizjournals.com . 15 February 2018.
  5. News: Porter . Kiel . Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse . 7 August 2023 . Bloomberg.com . 29 September 2022 . en.
  6. News: Kellaher . Colin . Navigant Consulting to Be Acquired for $1.1 Billion . 7 August 2023 . Wall Street Journal . 2 August 2019.
  7. News: Porter . Kiel . Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse . 7 August 2023 . Bloomberg.com . 29 September 2022 . en.
  8. Web site: Bain close to buying consulting firm Guidehouse in $5 bln deal- WSJ. Reuters. November 6, 2023.
  9. News: Navigant Consulting Names New Chairman and CFO . 26 January 2019 . The Wall Street Journal . 23 May 2000.
  10. https://www.latimes.com/archives/la-xpm-2005-oct-26-me-kingdrew26-story.html Pact to Fix King/Drew Is Extended - Los Angeles Times
  11. http://www.chicagotribune.com/topic/la-me-kingdrew23sep23,0,712841.story King/Drew Fails Final U.S. Test
  12. 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
  13. News: UPDATE 1-Navigant Consulting appoints new CEO . 26 January 2019 . Reuters . 23 February 2012.
  14. News: Kacik . Alex . Navigant, Baptist Health South Florida form revenue-cycle management joint venture . 28 December 2018 . Modern Healthcare . 10 April 2018.
  15. News: Landi . Heather . Baptist Health South Florida, Navigant Form RCM Joint Venture . 28 December 2018 . Healthcare Informatics . 11 April 2018.
  16. News: Kellaher . Colin . Navigant to Sell Units to Ankura for $470 Million . 22 November 2018 . The Wall Street Journal . 25 June 2018 . subscription .
  17. News: Medici . Andy . Ankura's purchase of a slice of Navigant makes it a big consulting player. So what happens next? . 22 November 2018 . Washington Business Journal . 27 August 2018.
  18. News: Graebner . Lynn . RMI sells to Illinois firm for $82 million . 21 November 2018 . Sacramento Business Journal . 17 August 1997 . registration .
  19. News: Fitzgerald . Jacqueline . Metzler Deal May Help Earnings . 21 November 2018 . Chicago Tribune . 19 August 1997.
  20. News: Gunset . George . Metzler, Peterson Consulting Join . 21 November 2018 . Chicago Tribune . 2 September 1998.
  21. News: Navigant Consulting acquires The Hunter Group . 21 November 2018 . Tampa Bay Business Journal . 24 September 2002 . registration .
  22. News: Quigley . Kelly . Navigant picks up consultancy . 21 November 2018 . Crain's Chicago Business . 2 February 2004.
  23. Navigant Consulting, Inc. Acquires Precept Programme Management Limited . 21 November 2018 . Business Wire . 24 March 2006.
  24. News: Murphy . H. Lee . Cash hoards help M&A rise in 1Q . 22 November 2018 . Crain's Chicago Business . 15 April 2006.
  25. News: Navigant Consulting acquires HJA Consulting . 22 November 2018 . Hydro Review . 10 August 2007.
  26. News: Robeznieks . Andis . Navigant buys healthcare consultancy Bard Group . 22 November 2018 . Modern Healthcare . 12 January 2009.
  27. News: Jaffe . Mark . Summit Blue is bought by Navigant . 22 November 2018 . The Denver Post . 11 January 2010.
  28. News: Navigant to Buy Daylight Forensic . 22 November 2018 . Dealbook . The New York Times . 17 May 2010.
  29. News: Navigant Acquires Healthcare Consultant Ethos Partners For $37 Million . 22 November 2018 . Proactive Investors . 4 October 2010.
  30. News: Pike Research acquired by Navigant Consulting . 22 November 2018 . Portland Business Journal . 11 July 2012 . registration .
  31. News: McKinney . Maureen . Navigant expands health consulting business in deal . 22 November 2018 . Modern Healthcare . 3 October 2012.
  32. News: Wang . Andrew L. . Navigant buys back-office health care vendor Cymetrix . 22 November 2018 . Crain's Chicago Business . 15 May 2014.
  33. News: US firm acquires RevenueMed of Technopark . 22 November 2018 . The Hindu BusinessLine . 24 February 2015.
  34. News: Bushey . Claire . Navigant acquires Chicago firm in health care buying spree . 22 November 2018 . Crain's Chicago Business . 4 January 2016.
  35. News: BRIEF-Navigant acquires Dymedex Consulting to expand life sciences practice . 22 November 2018 . Reuters . 1 September 2016.
  36. News: BRIEF-Navigant acquires Europe's Ecofys . 22 November 2018 . Reuters . 7 November 2016.
  37. News: BRIEF-Navigant acquires substantially all of the assets of Quorum Consulting . 22 November 2018 . Reuters . 2 November 2017.
  38. News: Terry . Robert . PwC finds a buyer for its government consulting practice . 7 August 2023 . www.bizjournals.com . 15 February 2018.
  39. News: Terry . Robert . PwC’s Veritas-owned U.S. public sector business now has a name . 7 August 2023 . www.bizjournals.com . 23 July 2018.
  40. News: Terry . Robert . PwC’s Veritas-owned U.S. public sector business now has a name . 7 August 2023 . www.bizjournals.com . 23 July 2018.
  41. News: Kline . Alan . 'North of $10 billion': Guidehouse CEO Scott McIntyre lays out ambitious growth plan . 7 August 2023 . www.bizjournals.com . 9 December 2022.
  42. News: Navera . Tristan . Guidehouse to set up new N. Va. HQ with 1,550 jobs . 7 August 2023 . www.bizjournals.com . 20 May 2021.

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