Navigant_Consulting

Guidehouse

Guidehouse

American management consulting firm

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.

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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".[2] Bloomberg reported that Guidehouse had an estimated valuation of approximately $7 billion in 2023.[4]

The company acquired and combined with Navigant Consulting Inc in August 2019 for $1.1 billion.[5] A year after purchasing Dovel Technologies, it acquired Grant Thornton LLP’s public sector advisory practice in 2022.[4]

In November 2023, Bain Capital agreed to acquire Guidehouse for $5 billion.[6] The purchase was completed the following month.

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.[7]

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.[8] Despite Navigant's work, King-Harbor failed to meet federal standards for Medicare funding in 2006,[9] prompting the county to undergo a radical restructuring plan for the hospital.[10]

In 2012, Julie Howard replaced Goodyear as CEO.[11] In April 2018, the company partnered with Baptist Health South Florida to form a joint venture providing revenue cycle management to healthcare organizations.[12][13] The dispute and investigative division of the company was sold to Ankura Consulting in August 2018.[14][15]

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Operations

After it was sold by PricewaterhouseCoopers, Guidehouse leadership was announced, including Chief Executive Officer Scott McIntyre[2] and Chief Financial Officer Deborah Ricci.[3] 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.[3]

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.[36]

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.[37]

Reception

References

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    Porter, Kiel (29 September 2022). "Veritas Capital Considers Selling or Taking Public $7 Billion Guidehouse". Bloomberg.com. Retrieved 7 August 2023.
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