Monitor Group
2013
Why
Deloitte acquired Monitor Group, a strategy consulting firm founded by Michael Porter, out of bankruptcy to add top-tier strategy consulting capabilities to its advisory practice. Monitor had gone bankrupt in 2012 following the loss of major client revenue during the financial crisis, but its brand and talent were valuable assets.
Impact
The Monitor acquisition allowed Deloitte to compete directly with McKinsey, Bain, and Boston Consulting Group in pure strategy engagements. It added approximately 1,500 strategy consultants and the Monitor brand, which was subsequently renamed Monitor Deloitte within the firm structure.
Outcome
Monitor Deloitte has grown within the firm and established Deloitte as a genuine competitor in the strategy consulting market that had previously been dominated by the classic strategy boutiques. The acquisition is widely viewed as one of the more successful salvage acquisitions in professional services history.