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June 2019

Management Consulting

Management consulting is a mature industry, growing ~4% over the last 5 years. Despite this slow secular growth, the number of businesses operating in the space has grown 3% over the same time period. We believe M&A will remain brisk in this sector given the fragmented nature of the space as larger players seek to gain share/talent through acquisitions while smaller firms attempt to achieve critical mass and move upmarket.