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Press release

Bain & Company enters into an agreement in principle to acquire Danish consulting firm, Qvartz, strengthening its leadership in the Nordics

Bain & Company enters into an agreement in principle to acquire Danish consulting firm, Qvartz, strengthening its leadership in the Nordics

The two firms are proceeding on an exclusive basis to finalize the details of the transaction

  • December 09, 2019
  • min read

Press release

Bain & Company enters into an agreement in principle to acquire Danish consulting firm, Qvartz, strengthening its leadership in the Nordics

Copenhagen – Dec 9, 2019 – Global consultancy Bain & Company announced today that it has agreed in principle to acquire Qvartz, a leading consulting firm headquartered in Denmark, to capitalize on growth opportunities across the Nordic region. Qvartz and Bain are proceeding on an exclusive basis to finalize the details of the transaction. The consulting expertise of the two firms will combine Qvartz’s local strength and intimate knowledge of the Nordic region with the global reputation and reach of Bain & Company.

The Bain-Qvartz combination will redefine the qualities Nordics-based companies should expect from a consultancy – matchless capabilities, a passion for results and seamless teaming – all in service of providing clients with the foremost analytical and strategic insights and ability to mobilize and execute on the right solutions. 

Bain will bring to bear its global influence of nearly 1,000 partners worldwide as well as more than 250 expert advisors to the current clients of both firms in the areas of advanced manufacturing and services, financial services, consumer products, and commercial excellence. 

“We aspire to become the top consultancy in the Nordics and we are now on the threshold of achieving that,” said Dan Kuzmic, a partner with Bain & Company and the head of  the firm’s Nordic business. “Pairing the expertise and cultures of our two firms will exponentially improve our ability to serve clients, particularly in the emerging areas of  renewable energy, advanced manufacturing, consumer products and private equity, while providing unparalleled career opportunities both in the Nordic countries and globally.”

The advantage of the Bain-Qvartz combination is rooted in their shared values and the passion their employees bring to the strategy consulting industry. Both firms were founded with an insurgent mentality, a spirit of entrepreneurism and a shared commitment to firm culture and societal responsibility. The results of these values are clear. Bain is the only premium global consulting firm to penetrate the global strategy consulting market in the past 50 years, while Qvartz has grown to the third largest Nordic consultancy in the highly selective Nordic strategic consulting market.

Additionally, both firms enjoy the highest employee advocacy scores in their respective markets and numerous industry recognitions.  Bain has been in the top five of Glassdoor’s Best Places to Work index since the rankings began in 2009, including an unprecedented four times at number one. The firm is also a “best place to work” for both working mothers and fathers, according to Working Mother and others. Similarly, Qvartz has been one of Vault’s top winners for Firm Culture in Europe for the last five consecutive years.

“We have excelled in the Scandinavian market – in a relatively short period of time - by helping our clients solve their most complex strategic challenges in a way that delivers maximum impact,” said Hans Henrik Beck, Managing Partner of Qvartz.  “Bain’s approach to strategic advisory services closely mirrors our own and together, we will help clients across the region realize their full potential.”

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.

Across 59 offices in 37 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster and more enduring outcomes. Our 10-year commitment to invest over $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial and social equity, economic development and the environment. Since our founding in 1973, we have measured our success by the success of our clients. We proudly maintain the highest level of client advocacy in the industry, and our clients have outperformed the stock market 4-to-1.