The two management consulting companies, Copenhagen Consulting Company (CoCoCo) and Quartz Strategy Consultants, have decided to join forces to create a new major Nordic player which can challenge the American dominance in the top of the Nordic consultancy market. The ambition is clear – to become the leading management consulting firm in the Nordic region.
The merger between CoCoCo and Quartz is part of a strategy of expanding market shares and gaining a leading position in the Nordic consultancy market. With the merger, the company will employ more than 120 consultants located in three offices in Copenhagen, Stockholm and Oslo and thus the company’s Nordic position is ensured.
The objective by 2015 is to become the first international consultancy which offers a real Nordic alternative to the American management consulting firms which dominate the market today. Furthermore, the company’s additional objectives are to double its size in Scandinavia and establish new offices outside the Nordic region when considered relevant for its leading international customers.
“The merger of the two companies makes it possible for us to obtain the position in Scandinavia that we want and at the same time challenge our American competitors even more than we do today. We want to be number 1. Therefore, we have chosen to make this major move because it is obvious to us how these two companies complement each other. The merger takes place during favourable market terms for both companies and therefore the timing is just right. For our customers it means that we can offer stronger competences and services within more areas by even more experienced consultants”, says Hans Henrik Beck, CEO of Quartz.
“For CoCoCo, this is a natural part of our growth strategy; to grow in Sweden and become a significant player in the Nordic market – in the long run also outside Scandinavia. The two companies are strong within each their areas and therefore I have no doubts about how strong we will become together. It is important for us to offer our customers an alternative to the standard method – a more up-to-date and flexible model, which is not based on the standard “pyramid” structure but on a foundation of more senior than junior consultants, deep insight and focus on the close customer relationship. A Nordic model”, says Torsten Hvidt, CEO of CoCoCo.
The merger between the two companies officially becomes effective as of August 1, 2010 and the name of the consolidated company will be QVARTZ. Hans Henrik Beck (originally from Quartz) will be the managing partner, and Torsten Hvidt, Jens Høgsted and Niels R. Koggersbøl will join the management. The company’s Danish address will be Ryesgade 3 at Nørrebro.
The chairman of the board of directors will be former Chief of Defence, Christian Hvidt (originally from CoCoCo). Other members of the board in QVARTZ will be Jørgen Vig Knudstorp, CEO of The LEGO Group, Nicolai Ørsted, Managing Partner in Plesner, Peter Lorange, former President of IMD Business School and Marcus Alexander, Professor at London Business School.
Today, the two companies work for some of the largest and leading companies in Scandinavia including, among others, Maersk, Novo Nordisk, Vestas, Carlsberg, Bestseller, DSB, Arla Foods, DONG Energy, LEGO, Axcel, EQT, Stattnet, NorgesGruppen, Telenor, TINE, Ferd Capital, IKEA, SAS, COOP, Ratos and Göteborgs Energi.
About Copenhagen Consulting Company (CoCoCo)CoCoCo was established in 2002 and with a yearly growth rate of 25% since the start-up, it is one of the fastest growing management consulting firms in the Nordic region. Today, CoCoCo has more than 90 employees, of whom 75 are consultants, who focus on strategy, transactions, organisation, transformation and commercial impact services for large companies and organisations in the Nordic region. The company has offices in Copenhagen and Oslo.
About Quartz Strategy ConsultantsWith a similar yearly growth rate of 25% since the start-up in 2002, Quartz Strategy Consultants is one of the largest management consulting firms in the Nordic region and today it employs about 60 people, of whom 45 are consultants. The company works with business development for a number of the biggest companies in Scandinavia, including leading players in the private equity industry who are served nationally as well as internationally. Read more about QVARTZ at www.QVARTZ.com