Huron to Acquire Global Philanthropic Management Consulting Firm GG+A
Huron (HURN) acquires GG+A, a philanthropic management consulting firm, to enhance fundraising programs and expand client reach. The acquisition aims to combine Huron's digital capabilities with GG+A's expertise to provide robust, data-informed strategies for clients globally.
The acquisition of GG+A by Huron represents a strategic expansion of Huron's service offerings in the philanthropy consulting sector. This move is indicative of Huron's commitment to enhancing its capabilities in supporting nonprofit organizations, educational institutions and healthcare entities in their fundraising efforts. The integration of GG+A's specialized consulting expertise with Huron's existing digital resources and client relationships is poised to create a more comprehensive suite of services that can address the evolving demands of the philanthropic landscape.
From a market perspective, this acquisition could potentially open up new revenue streams for Huron by tapping into GG+A's established client base and leveraging its six decades of experience in the sector. The addition of 100 GG+A team members to Huron's workforce is likely to bolster the company's intellectual capital and operational capacity in the philanthropy consulting domain. This strategic move could be seen as a response to the increasing competition and the need for differentiation in the professional services industry.
While the financial terms of the acquisition have not been disclosed, the market will be closely monitoring the impact of this transaction on Huron's financial performance. Key metrics of interest post-acquisition will include revenue growth, particularly within Huron's Education operating segment and the effect on profit margins due to the integration of GG+A. Investors will also be assessing the cost synergies and potential for cross-selling opportunities that may arise from the combined capabilities of Huron and GG+A.
It is essential to evaluate the acquisition's alignment with Huron's long-term strategic goals and the expected return on investment. The company's stock performance (NASDAQ: HURN) may reflect investor sentiment regarding the perceived benefits of the acquisition and its ability to drive long-term shareholder value. In the short term, Huron's share price could experience volatility as the market digests the news and anticipates the closing of the deal in March 2024.
From a legal standpoint, the acquisition process will involve thorough due diligence to ensure compliance with regulatory standards and to identify any potential risks associated with GG+A's operations and client contracts. The integration of GG+A into Huron's Education operating segment will require careful navigation of employment law as approximately 100 team members transition to Huron. Additionally, the preservation of client confidentiality and the seamless transfer of service agreements will be critical to maintaining trust and continuity with GG+A's existing clients.
The successful closure of the deal will depend on meeting all regulatory requirements and obtaining the necessary approvals. Given the expected closing date in March 2024, both parties will have sufficient time to address any legal and regulatory hurdles that may arise during the acquisition process.
02/12/2024 - 11:00 AM
Acquisition expands Huron’s philanthropy consulting offerings
CHICAGO --(BUSINESS WIRE)--
Global professional services firm Huron (NASDAQ: HURN) today announced it has entered into an agreement to acquire GG+A, a leading philanthropic management consulting firm that helps education institutions and healthcare, arts and other nonprofit organizations build and accelerate the philanthropic programs that support their mission. Successful fundraising programs and campaigns can play a pivotal role in helping organizations achieve their strategic objectives and widen their impact.
“GG+A is well-known for helping its clients around the world achieve their philanthropic goals and serving as their trusted advisor to advance their missions,” said Mark Hussey , chief executive officer and president of Huron . “By combining our deep client relationships and digital capabilities with GG+A’s extensive consulting expertise in advancement, our clients will benefit from a robust, data-informed strategy across the donor journey.”
Founded in 1961, GG+A collaborates with clients across the globe to understand their unique fundraising landscape and develop sustainable, high-performing institutional programs that help accelerate their growth strategies, strengthen constituent experiences that build stronger donor and alumni relationships, and improve productivity.
“GG+A has more than six decades of experience collaborating with clients in North America and abroad to build sustainable, high-performing programs that accelerate philanthropic growth in support of an organization’s strategy and the establishment of long-term donor communities,” said John Glier, who has served as CEO of GG+A for the past 30 years. “We are pleased and excited to join Huron and its talented global team. Huron’s remarkable client service, its depth of digital resources, and its reach across many of the same client institutions we have served in the past, will strengthen and expand the work of GG+A.”
Approximately 100 members of the GG+A team will join Huron.
GG+A will be included in Huron’s Education operating segment. Terms of the acquisition, which is expected to close in March 2024, were not disclosed.
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, 2022 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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MEDIA CONTACT
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Source: Huron
What did Huron (HURN) announce regarding GG+A?
Huron announced the acquisition of GG+A, a philanthropic management consulting firm.
How will the acquisition benefit Huron's clients?
The acquisition aims to provide clients with robust, data-informed strategies across the donor journey.
When is the acquisition expected to close?
The acquisition is expected to close in March 2024.
