Avascent
 | |
| Company type | Private |
|---|---|
| Industry | Management consulting |
| Founded | 2007 |
| Headquarters | Washington, DC |
Key people | Steve Irwin, President |
| Products | Management consulting services |
| Parent |
|
| Website | www.avascent.com |
Avascent is a boutique management consulting firm serving the defense, aerospace, homeland security, logistics, transit, and financial industries. It was formed in 2007 after a management-led buyout of DFI Corporate Services from its parent, DFI International (now Detica, since acquired by BAE Systems).[1]
For more than 25 years, Avascent (previously as DFI) has advised the world's largest prime defense contractors and systems integrators.[citation needed] In addition to core markets in defense and aerospace, Avascent's clients also operate in other sectors influenced by government policy, such as energy, transportation and healthcare.
In 2011, the firm was featured in Consulting Magazine's annual Seven Small Jewels feature.[2]
On November 1, 2022, Oliver Wyman acquired the company for an undisclosed amount.[3] Wyman is a management consulting firm owned by the Marsh McLennan group.
Avascent Analytics
[edit]In 2009, Avascent launched Avascent Analytics, a subscription-based web-accessible service providing clients comprehensive data covering aerospace, defense, and government driven markets. The database includes a forecast of global defense spending spanning the U.S. and 55 accessible countries, a federal contracts intelligence tool, and forecasting of global space systems.[4]
Recruiting
[edit]Avascent typically recruits graduates into one of two tracks. Analysts are primarily undergraduates recruited from top university campuses. Unlike many consulting firms, Avascent does not have a fixed two-year program for analysts, but instead believes in organically developing future leaders.[clarification needed] Engagement Managers are typically recruited from leading MBA and International Affairs programs, or are mid-career professionals. Avascent's Engagement Managers lead project teams and develop client relationships on the path to Partner.[5]
Partnerships
[edit]Avascent works with non-profit organizations that aim to help people around the world, including:
- Build.org - an entrepreneurial experience for underprivileged youth[6]
- Service Never Sleeps - engages young professionals to combat social justice issues through service and civic engagement[7]
Avascent belongs to several government interest business groups, including the Homeland Security Business Council.[8]
In July 2019, Avascent joined the German Aerospace Industries Association (BDLI).[9]
Notable current and former employees
[edit]- Lori Garver - In 2009, Garver was nominated by Barack Obama as Deputy NASA Administrator.[10] She was confirmed by the United States Senate by unanimous consent on July 15, 2009.[11]
- William Lynn - In 2009, Lynn was nominated by Barack Obama as Deputy Secretary of Defense.[12] His appointment was approved by the U.S. Senate Armed Services Committee on February 5, 2009 by unanimous consent.[13] On February 11, 2009, Lynn was confirmed in the full Senate by a vote of 93–4.[14] He took the oath of office on February 12.
Avascent Global Advisors
[edit]In February 2010, Avascent created Avascent International, which became Avascent Global Advisors in 2016, a senior-level advisory arm of Avascent. The function of Avascent Global Advisors is to assist clients in identifying strategic opportunities, finding appropriate partners, addressing seen and unseen risk, and offering government relations and market strategies. [15]
Acquisition by Oliver Wyman
[edit]In October 2022, Oliver Wyman, a global management consulting firm announced its plan to acquire Avascent.[16] The acquisition was completed on November 1, 2022.
References
[edit]- ^ "2007 M&A Roundup" [1] Washington Technology Magazine (retrieved May 29, 2009)
- ^ Kornick, Joe (24 March 2011). "Seven Small Jewels, 2011". Consulting Magazine. Retrieved 12 April 2011.
- ^ "Marsh McLennan's Oliver Wyman Completes Avascent Acquisition". PR Newswire. Retrieved 2023-01-09.
- ^ "Avascent Analytics | Powerful Market Intelligence". Avascent Analytics. Retrieved 17 November 2016.
- ^ "Avascent Careers". Retrieved 17 November 2016.
- ^ The Avascent Group. "2008 Charitable Contributions" "The Avascent Group Announces 2008 Charitable Contributions | the Avascent Group". Archived from the original on 2009-03-24. Retrieved 2009-05-29., retrieved May 29, 2009.
- ^ "Avascent announces CSR Partnership with Service Never Sleeps | Avascent". Avascent. 2017-02-16. Retrieved 2018-05-29.
- ^ HS&DBC "Members" "HS&DBC > Members". Archived from the original on 2009-06-05. Retrieved 2009-05-29., retrieved May 29, 2009.
- ^ "Avascent Group Ltd. (via Public) / Avascent joins German Aerospace Industries Association (BDLI)". www.publicnow.com. Retrieved 2020-03-18.
- ^ KENNETH CHANG (May 23, 2009). "Retired General Picked to Lead NASA". The New York Times.
- ^ KEITH COWING (July 15, 2009). "Bolden and Garver Confirmed By Senate for Top NASA Posts". SpaceRef.com.
- ^ PHILIP RUCKER (January 8, 2009). "Obama Names Deputy Defense Secretary, Top Pentagon Officials". The Washington Post. Archived from the original on January 12, 2012.
- ^ ADAM LEVINE (February 5, 2009). "Senate committee approves controversial lobbyist". CNN. Archived from the original on February 6, 2009.
- ^ ADAM LEVINE (February 11, 2009). "U.S. Senate Roll Call Votes 111th Congress - 1st Session". United States Senate.
- ^ "About Avascent Global Advisors".
- ^ "OLIVER WYMAN ENTERS INTO AGREEMENT TO ACQUIRE AVASCENT | Oliver Wyman". Archived from the original on 2022-10-17. Retrieved 2009-05-29., retrieved Oct 18, 2022.