PwC acquires the Australian practice of global advisory firm Advancy
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Professional services firm PwC has acquired the Australian practice of Paris-headquartered consultancy Advancy, which in the local market focuses on M&A due diligence and growth strategy. Originally established two and a half decades ago and joining the global Advancy network in 2013, the firm is led by senior partners and co-founders David Thevenon and Carl Brostrom, who together bring six decades of combined professional experience to PwC. The deal marks a rare acquisition among Australia's Big Four in recent times, following a flurry of activity in the lead up to and early Covid-years, with PwC's also rare sale of its Indigenous Consulting stake to a fellow Big Four in Deloitte in 2024 one of the last. PwC did however since then sell a part of its financial advisory practice to global consultancy Teneo (mainly restructuring), which subsequently launched its financial advisory practice downunder. Now, PwC has clawed some of those skills back through the addition of Advancy, which has assisted many of Australia's biggest home-grown private equity players. "The nature of advisory is changing," said PwC Advisory practice leader Ro Antao. "Clients are looking for experienced professionals and deeper sector expertise, more integrated support, and partners who can help them move from strategic decisions to outcomes. Advancy's team in Australia strengthens our ability to support...
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