Booz Allen to sell Middle East/N. Africa biz

New York-based management consulting firm Oliver Wyman announced last week that it has entered an agreement to acquire McLean-based Fortune 500 global management consultant Booz Allen Hamilton Inc.’s business serving the Middle East and North Africa (MENA) region.

Financial terms of the transaction, which is expected to close this year, were not disclosed.

Oliver Wyman will add the acquired business to its India, Middle East and Africa (IMEA) practice.

“We’ve long admired Booz Allen Hamilton’s shared ethos of client excellence and deep sector expertise of the highest standards,” Pedro Oliveira, managing partner of Oliver Wyman IMEA, said in a statement. “Indeed, Oliver Wyman and Booz Allen already share a long history, with two former Booz Allen Hamilton partners having founded Oliver Wyman, and we are deeply pleased this culture of entrepreneurship and DNA of deep-seated values endures some four decades later.”

Souheil Moukaddem, Booz Allen’s MENA managing director and executive director, will join Oliver Wyman’s Management Leadership Council, led by Oliveira.

Booz Allen’s MENA-based management consulting business offers experience across energy, climate and sustainability, real estate and financial services, as well as a specialized cybersecurity offering. Booz Allen will continue to serve U.S. government clients requiring support within the region.

“This is a tremendous opportunity for our MENA-based management consulting business and talented workforce to grow in new ways,” Karen Dahut, Booz Allen’s global defense sector president, said in a statement. “Booz Allen has a proud, long-standing management consulting legacy in the MENA region and has become a true transformation leader. Oliver Wyman provides the management consulting focus, investment and culture that will allow our people and clients to thrive, while enabling Booz Allen to retain a core focus on serving U.S. government clients at the center of mission and technology.”

Booz Allen employs approximately 29,500 workers globally, with about 10,000 employed in Virginia. For the 12 months ended March 31, 2021, Booz Allen reported revenues of $7.9 billion.

A division of Marsh McLennan, Oliver Wyman has more than 5,500 employees worldwide focused on international management and strategic consulting.