Huron Closes Acquisition of Philanthropic Management Consulting Firm GG+A
Huron (HURN) completes the acquisition of GG+A, a philanthropic management consulting firm, to enhance philanthropic solutions for education, healthcare, arts, and nonprofit organizations. The merger aims to deepen societal impact and value for clients.
The completion of Huron's acquisition of GG+A represents a strategic move that could potentially enhance Huron's service offerings within the philanthropic consulting sector. The integration of GG+A's expertise in philanthropy management with Huron's existing digital capabilities and client relationships is likely to create synergies that can lead to diversified revenue streams and expanded market reach.
From a market perspective, this acquisition could position Huron more competitively in the niche market of philanthropic consulting for educational, healthcare and nonprofit organizations. By offering comprehensive philanthropic solutions, Huron may be able to capitalize on the growing trend of social responsibility and the increasing need for organizations to demonstrate societal impact.
The financial implications of this acquisition for Huron's stakeholders are multifaceted. On one hand, the immediate costs associated with acquisitions can impact short-term financial performance due to integration expenses and potential amortization of intangible assets. On the other hand, the long-term benefits could include enhanced earnings potential through cross-selling opportunities and increased market share.
Investors should monitor the performance of Huron's Education operating segment, where GG+A will be reported, for signs of successful integration and revenue growth. It is also important to assess the company's ability to maintain GG+A's client relationships and the retention of key personnel, as these factors are critical for realizing the expected synergies and achieving a return on investment.
From a legal standpoint, the acquisition of GG+A by Huron should have been subject to regulatory approval processes, ensuring compliance with antitrust laws and regulations. The legal due diligence prior to the acquisition would have addressed potential liabilities, contractual obligations and intellectual property rights, which are crucial for a smooth transition and integration of the two firms.
It is vital for Huron to ensure that all legal and regulatory requirements continue to be met post-acquisition, particularly in relation to data protection and privacy laws, given the sensitive nature of philanthropic data and donor information handled by consulting firms in this sector.
03/04/2024 - 09:05 AM
Combination strengthens Huron’s ability to help clients achieve their missions and advance philanthropic strategies
CHICAGO --(BUSINESS WIRE)--
Global professional services firm Huron (NASDAQ: HURN) today announced it has completed its acquisition of GG+A, a leading philanthropic management consulting firm. This acquisition brings together two organizations with a shared passion for empowering education institutions and healthcare, arts, and other nonprofit organizations to build and accelerate philanthropic programs to support their mission and deepen their impact on society.
“We are thrilled to welcome GG+A to team Huron,” said Mark Hussey , chief executive officer and president of Huron . “This acquisition enables us to combine our deep client relationships and digital capabilities with GG+A’s extensive consulting expertise in advancement to provide comprehensive philanthropic solutions that drive a greater impact and value for our clients.”
“Philanthropy is a linchpin in enabling organizations and institutions across the education, healthcare, arts and nonprofit industries to amplify their societal impact,” said Suzanne Hilser-Wiles, former president of GG+A and managing director and leader of Huron’s GG+A global philanthropy business. “We are pleased and excited that all of our consultants and analytics colleagues will now be part of the global Huron team and look forward to strengthening and growing our relationships with leading institutions as we join forces with Huron.”
Huron’s GG+A global philanthropy business will offer advisory services and strategic support for philanthropy strategies and campaigns, serving the full breadth of the global educational, healthcare, and nonprofit landscape.
John Glier, former chief executive of GG+A and managing director at Huron, and Martin Grenzebach, former chair of GG&A and principal at Huron, will continue to counsel and advise clients with Huron’s GG+A global philanthropy business.
For reporting purposes, GG+A will be included in Huron’s Education operating segment. For more information, read the press release announcing the acquisition here .
ABOUT HURON
Huron is a global professional services firm that collaborates with clients to put possible into practice by creating sound strategies, optimizing operations, accelerating digital transformation, and empowering businesses and their people to own their future. By embracing diverse perspectives, encouraging new ideas and challenging the status quo, we create sustainable results for the organizations we serve. Learn more at www.huronconsultinggroup.com .
Statements in this press release that are not historical in nature, including those concerning the company’s current expectations about its future results, are “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as “may,” “should,” “expects,” “provides,” “anticipates,” “assumes,” “can,” “will,” “meets,” “could,” “likely,” “intends,” “might,” “predicts,” “seeks,” “would,” “believes,” “estimates,” “plans,” “continues,” “goals,” “guidance,” or “outlook” or similar expressions. These forward-looking statements reflect the company's current expectations about future requirements and needs, results, levels of activity, performance, or achievements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: failure to achieve expected utilization rates, billing rates, and the necessary number of revenue-generating professionals; inability to expand or adjust our service offerings in response to market demands; our dependence on renewal of client-based services; dependence on new business and retention of current clients and qualified personnel; failure to maintain third-party provider relationships and strategic alliances; inability to license technology to and from third parties; the impairment of goodwill; various factors related to income and other taxes; difficulties in successfully integrating the businesses we acquire and achieving expected benefits from such acquisitions; risks relating to privacy, information security, and related laws and standards; and a general downturn in market conditions. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, including, among others, those described under “Item 1A. Risk Factors” in Huron's Annual Report on Form 10-K for the year ended December 31, 2023 that may cause actual results, levels of activity, performance or achievements to be materially different from any anticipated results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. The company disclaims any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
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Source: Huron
What did Huron (HURN) announce regarding GG+A?
Huron (HURN) announced the completion of its acquisition of GG+A, a leading philanthropic management consulting firm.
What is the goal of the acquisition between Huron (HURN) and GG+A?
The goal of the acquisition is to combine expertise in advancement to provide comprehensive philanthropic solutions for clients.
Who is the chief executive officer and president of Huron (HURN)?
Mark Hussey is the chief executive officer and president of Huron (HURN).
What services will Huron's GG+A global philanthropy business offer?
Huron's GG+A global philanthropy business will offer advisory services and strategic support for philanthropy strategies and campaigns.
How will GG+A be included in Huron's reporting purposes?
GG+A will be included in Huron's Education operating segment for reporting purposes.
