West Monroe Partners

Last updated

West Monroe, LLC
Company type Private
Industry Management consulting
Banking
Credit Unions
Capital Markets
Private equity
Insurance
Healthcare
Life Sciences
Energy
Utilities
Manufacturing
Distribution
Retail
Technology
Founded2002
Headquarters Chicago, Illinois
Area served
 North America
Europe
Key people
Kevin McCarty (CEO)
Number of employees
1745 [1]
Website westmonroe.com

West Monroe is a digital services firm headquartered in Chicago, Illinois. [2] West Monroe provides traditional management consulting, creative and product engineering services to businesses across many industries, including consumer and industrial products, energy and utilities, financial services, healthcare, life sciences, private equity, retail, and software and high tech. West Monroe is consistently recognized as a best place to work and a top consulting firm. [3] [4] West Monroe’s tagline is "Don’t Do Digital. Be Digital." [5]

Contents

Office locations

West Monroe has ten offices and talent hubs, including Chicago (headquarters), Dallas, Los Angeles, Minneapolis, New York City, San Francisco, Seattle, Washington, D.C., London, and Costa Rica. [6]

History and acquisitions

2002–2004: formative years

In April 2002, four former Arthur Andersen consultants met at Miller’s Pub in Chicago and founded West Monroe. [7] That group, which did include Dean Fischer (chairman of the board emeritus) and Kevin McCarty (currently CEO and chairman of the board), established West Monroe Partners LLC, with the name deriving from Arthur Andersen's previous address on West Monroe Street in Chicago. [8]

In 2004, West Monroe created the Chiefs program to foster a culture specific to the interests of their employees. [9]

The firm began serving its first client, Equity Marketing Services, in June 2002, and went on to deliver business and technology consulting services to a variety of mostly Midwestern clients from its Chicago office. [10]

2005–2009: expansion years

The years between 2005 and 2009 marked a period of expansion for West Monroe. In 2005, the firm opened new offices in Seattle and New York. [11] The firm reached $10 million in revenue and hired its 100th employee, including members of West Monroe's first university recruiting class. [12]

2010–2017: continued expansion

In April 2012, West Monroe celebrated its tenth anniversary in business.

At the end of 2012, West Monroe reorganized as an employee stock ownership plan. [13]

In 2013, West Monroe establishes the Fischer Fellowship Program, allowing employees to apply for consideration to pursue philanthropic and humanitarian interests with a three to six-month compensated leave. Today, 29 employees have participated in the Fischer Fellowship spanning 18 countries and helping 27 organizations. [14]

West Monroe also made its first acquisition in 2013, acquiring the Minneapolis-based On Point Consulting, a merger integration solutions specialist, which establishes the Minneapolis office based in the Twin Cities. [15]

In January 2014, West Monroe announced it had acquired Madrona Solutions Group, a Seattle-based consulting firm focused on delivering customer relationship management and business intelligence. [16] The same month it also announced the opening of its Los Angeles, CA office. [17]

In October 2014, president and co-founder Kevin McCarty was named as CEO. [18]

In October 2015, West Monroe announced it had acquired Etherios, a Salesforce platform. As part of the acquisition, the firm strengthened its presence in two markets, San Francisco, CA and Dallas, TX. [19]

In July 2016, West Monroe announced it had acquired Invoyent, a Chicago-based healthcare consulting firm, expanding the firm’s healthcare practice. [20]

2017-2021: recent history

In 2017, West Monroe announced the acquisition of CAST Management Consultants, a financial services consulting firm based in Los Angeles. [21] In the fall of 2018, West Monroe met new headcount milestones, exceeding 1,000 employees and reaching $1 billion in cumulative revenue. [22] In 2019, West Monroe acquired two companies: Waterstone Management Group, an advisory firm for private equity firms and Fortune 500 companies to expand and deepen West Monroe’s strategic advisory and operations improvement services; and GoKart Labs, a digital product studio establishing a more comprehensive set of digital offerings for clients. [23] [24]

In October 2019, West Monroe signed a lease for their new HQ as the anchor tenant at 311 W. Monroe in Chicago’s Loop neighborhood. [25]

In 2020, West Monroe acquired Pace Harmon, a strategy and outsourcing firm, adding depth in transformation advisory services. This acquisition establishes West Monroe’s Washington D.C. office and footprint. [26] West Monroe also acquired Two Six Capital, a data science firm for private equity, strengthening West Monroe’s position as a market leader in private equity advisory. [27]

2021-present

In September 2021, West Monroe acquired Verys, a California-based software development firm and Carbon Five, a product management, digital design, and software engineering firm. [28] [29]

In October 2021, West Monroe received an investment from MSD Partners, L.P. a leading investment advisor founded in 2009 by the partners of MSD Capital, the family investment office for Michael Dell, Founder & CEO of Dell Technologies. [30] This investment supports West Monroe’s strategy to establish itself as the leading digital consulting firm in North America and to expand internationally. [31]

In 2022, West Monroe announced its multi-year expansion in Western Europe by opening its London office to serve its private equity clients. [32] The same year, West Monroe acquired 71 & Change, change management consultancy based in the Pacific Northwest, expanding West Monroe’s organizational change management services. Nielson HR executive Laurie Lovett was also named to West Monroe’s Board of Directors. [33]

In 2023, TED CEO Jay Herratti joined West Monroe’s Board of Directors. [34]

Industry and services specialization

West Monroe maintains specialized capabilities in the following industries and services:

Industries

Services

Awards and recognition

West Monroe is consistently named as a best place to work by publications such as Great Place to Work and Fortune Magazine, Consulting Magazine, Crain’s Chicago Business, Chicago Tribune, Crain’s New York, Dallas Business Journal, LA Business Journal, and Built In. [35] [36] [37] In 2018, West Monroe’s CEO Kevin McCarty was named Entrepreneur of the Year by EY. West Monroe’s leaders are also recognized by other leading publications such as Consulting Magazine, M&A Advisor, Built In, and Crain’s New York.

Publishing

West Monroe publishes a monthly newsletter for clients, as well as several industry-specific newsletters. These ongoing newsletters highlight key industry trends and issues facing C-level executives.

In 2022, West Monroe launched its podcast, This is Digital, to demystify digital transformation by showing what digital looks like “in real life” through interviews with in-house experts, influencers, and executives. Guests include Mark King, CEO of Taco Bell; Rob Wescott, Renowned Clinton Admin Economist; Allie K. Miller, AI Entrepreneur. [38]

In addition, West Monroe authors multiple research studies and polls, white papers, thought leadership, blog posts, executive communications, and newsletters on what it means to be digital.

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References

  1. ↑ "About Us | West Monroe".
  2. ↑ "Company Overview of West Monroe LLC". Bloomberg BusinessWeek. Archived from the original on 29 May 2010. Retrieved 19 April 2013.
  3. ↑ "West Monroe Partners". Fortune. Retrieved 9 August 2023.
  4. ↑ "The 2022 Best Firms to Work For: West Monroe Partners". Consultingmag.com. Retrieved 9 August 2023.
  5. ↑ "Don't Do Digital. Be Digital. | West Monroe". www.westmonroe.com. Retrieved 9 August 2023.
  6. ↑ "Our Offices | West Monroe". www.westmonroe.com. Retrieved 9 August 2023.
  7. ↑ Staff (1 June 2009). "Chicago's Best Places to Work". Crain's Chicago Business. Retrieved 19 April 2013.
  8. ↑ Staff (28 November 2011). "In Brieft". Chicago Real Estate Daily. Retrieved 19 April 2013.
  9. ↑ Gurchiek, Kathy (12 April 2018). "'Chief of Anything' Program Develops Skills, Workplace Community". SHRM. Retrieved 9 August 2023.
  10. ↑ Vault. "Vault Rankings 2013". Vault.com Inc. Retrieved 19 April 2013.
  11. ↑ BusinessWire (14 August 2012). "West Monroe Partners Named one of Washington's Best Workplaces" . Retrieved 19 April 2013.{{cite news}}: |last= has generic name (help)
  12. ↑ Staff. "West Monroe Partners Named Finalist for ITA CityLIGHTS Award". PressReleasePoint. Retrieved 19 April 2013.
  13. ↑ "The Business and technology consultancy has restructured as an Employee Stock Ownership Plan trust". The Daily Herald. 5 February 2013. Retrieved 19 April 2013.
  14. ↑ Partners, West Monroe. "West Monroe announces 2022 class of Fischer Global Service Fellows". www.prnewswire.com (Press release). Retrieved 31 July 2023.
  15. ↑ "West Monroe Acquires Experienced Merger Integration Consultancy | West Monroe". www.westmonroe.com. Retrieved 31 July 2023.
  16. ↑ "West Monroe Acquires Madrona Solutions Group". West Monroe. Retrieved 23 June 2020.
  17. ↑ "West Monroe Opens Los Angeles Office". West Monroe. Retrieved 23 June 2020.
  18. ↑ "Kevin McCarty new CEO of West Monroe Partners". www.consultancy.uk. 27 October 2014. Retrieved 9 August 2023.
  19. ↑ "CRM delivery platform Etherios sells for $9M". TECHSEEN. 27 October 2015. Retrieved 15 July 2024.
  20. ↑ "West Monroe Acquires Invoyent". West Monroe press release. Retrieved 19 April 2013.
  21. ↑ "West Monroe Acquires CAST Management Consultants". Consultingmag.com. Retrieved 9 August 2023.
  22. ↑ "West Monroe named one of Chicago Tribune's Top Workplaces for 9th year in a row". Press release. Retrieved 23 June 2020.
  23. ↑ "West Monroe Acquires Waterstone Management Group". Press release. Retrieved 23 June 2020.
  24. ↑ Tribune, Patrick Kennedy Star. "Minneapolis digital firm GoKart Labs acquired". Star Tribune. Retrieved 9 August 2023.
  25. ↑ "West Monroe Inks 12-Year Lease as Anchor Tenant at 311 W. Monroe, Names Building 'West Monroe HQ'". Press release. Retrieved 23 June 2020.
  26. ↑ Nesi, Chris (13 November 2020). "West Monroe Acquires Strategy and Outsourcing Advisory Firm Pace Harmon". Consulting Magazine. Retrieved 2 June 2021.
  27. ↑ "West Monroe acquires data science consultancy Two Six Capital". Consulting.us. 4 December 2020. Retrieved 2 June 2021.
  28. ↑ Lipsky, Cole (1 December 2021). "West Monroe Acquires Carbon Five". Mergers&Acquisitions.
  29. ↑ "In its biggest deal ever, tech consulting firm West Monroe acquires Verys of California". www.bizjournals.com. Retrieved 16 August 2023.
  30. ↑ Partners, West Monroe. "West Monroe completes investment from MSD Partners, begins Employee Ownership 3.0". www.prnewswire.com (Press release). Retrieved 31 July 2023.
  31. ↑ "West Monroe Announces European Expansion, Launches London Office". Consultingmag.com. Retrieved 9 August 2023.
  32. ↑ "West Monroe Announces European Expansion, Launches London Office". Consultingmag.com. Retrieved 31 July 2023.
  33. ↑ Partners, West Monroe. "West Monroe Names Laurie Lovett to Board of Directors". www.prnewswire.com (Press release). Retrieved 31 July 2023.
  34. ↑ Partners, West Monroe. "West Monroe Appoints TED CEO Jay Herratti to Board of Directors". www.prnewswire.com (Press release). Retrieved 31 July 2023.
  35. ↑ "Consulting Magazine - September 2016". 15 September 2016. Archived from the original on 15 September 2016. Retrieved 14 August 2023.
  36. ↑ "West Monroe Named to Crain's Chicago Business Top Privately Held Companies List | West Monroe". www.westmonroe.com. Retrieved 14 August 2023.
  37. ↑ Partners, West Monroe. "West Monroe Partners Named to 2019 Dallas Business Journal List of 100 Best Places to Work in North Texas". www.prweb.com. Retrieved 14 August 2023.
  38. ↑ "This is Digital Podcast I The Leading Digital Business Podcast | West Monroe". www.westmonroe.com. Retrieved 9 August 2023.
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