Navigant Consulting

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs.^{[clarification needed]}

Based in Chicago, Illinois, Navigant has over 40 offices across the United States, Canada, Europe and Asia. 2009 revenues were $707 million. The company has been listed among Forbes' Best Run Small Companies and Fortune's Fastest Growing Companies. The company's stock is a member of the S&P 400 index.

History

Formation

Navigant Consulting was formed in 1999 under the name The Metzler Group Inc., a global management consulting company serving energy-based and other regulated industries. Founded in 1983 by Richard Metzler, the Metzler Group became a public company in October 1996, offering stock trades on the Nasdaq National Market under the ticker symbol “METZ.” In July 1999, the company received full shareholder approval to change the company’s name to Navigant Consulting, Inc. Shortly afterwards, Navigant Consulting’s stock listing was moved to the New York Stock Exchange (NYSE) under the ticker symbol “NCI.”^[1] The company’s new name was meant to reflect its ability to help clients navigate changing business conditions.^[2]

Mergers and acquisitions

Navigant expanded its range of services and international reach through a number of acquisitions.

In 1998, The Metzler Group merged with Peterson Consulting, an information management and technology firm specializing in information services, data processing, damage assessment and quantifying lost profits, regulatory compliance, process operations management and litigation support. Under the terms of the merger, Peterson Consulting became a wholly owned subsidiary and independent operating unit of The Metzler Group.^[3]

Navigant then acquired Tucker Alan in February 2004, a privately-held litigation and business consulting firm specializing in core litigation support services. With offices in Los Angeles, San Francisco, and Seattle, the Tucker Alan acquisition helped strengthen Navigant’s west coast presence and further develop the firm’s national platform.^[4]

Focusing its purchases on firms in the financial services and healthcare industry, Navigant bought the corporate finance consultancy Casas Benjamin & White in February 2005. The firm focused on corporate restructuring and transactional solutions.^[5] Several months later, the Tiber Group, a healthcare management consulting firm providing healthcare executives with strategic advisory services, was also purchased.^[6]

Other 2005 acquisitions included A.W. Hutchison, the construction litigation services firm assisting owners, contractors, and counsel with distressed engagements and projects in litigation,^[7] as well as the forensic accounting and litigation consulting and business valuation practices of Kroll Lindquist Avey in Canada - a subsidiary of Kroll, Inc.^[8]

In March 2006 Navigant acquired Precept Programme Management Limited, an independent dispute advisory and program management consulting firm based in the UK.^[9] In December, the firm acquired HP3, a nationally recognized management consulting firm that assisted senior healthcare executives with clinical documentation, coding, and data solutions for improved reimbursement, compliance, and patient care.^[10]

In 2007 Navigant added two additional UK based consultancies to its portfolio: the program management and public procurement firm, Augmentis, in June 2007,^{[citation needed]} followed by the Troika acquisition in August. Troika provided operational performance improvement solutions to organizations in the financial services industry.^[11]

Chicago Partners of Illinois was acquired in May 2008, adding economics expertise to the firm’s portfolio. Founded in 1994, it specialized in economic and financial analysis and assisted law firms, corporations and government agencies with securities litigation, antitrust, valuation and asset pricing, forensic accounting, intellectual property, and labor market discrimination.^[12]

In 2009 Navigant acquired The Bard Group, a Boston based healthcare consulting firm that provided physician leadership and performance improvement services to healthcare executives, community hospitals, and physician groups in programs designed to ensure physician engagement.^[13]

In early 2010, Navigant acquired Summit Blue, a leading energy efficiency and renewable energy consulting firm and the Washington DC based economics consulting firm, Empiris. In May, Navigant acquired Daylight Forensic & Advisory LLC, an international regulatory consulting and investigative firm specializing in financial investigations, AML consulting, regulatory compliance, forensic technology services, and fraud risk management.^[14][15][16]

Most recently the firm has acquired EthosPartner, a national healthcare consulting group specializing in physician and hospital alignment, physician practice operations management, and physician revenue cycle management.^[17]

Services

Navigant delivers services globally to clients seeking four core services:

Dispute & Investigative

Navigant’s Disputes and Investigative professionals offer litigation consulting, forensic accounting and financial investigations, damages analysis, business valuation, and discovery management to corporate counsel and law firms. This team provides expert testimony in matters involving the state and federal courts as well as administrative and regulatory proceedings and international arbitrations.^[18]

Financial Advisory

Navigant’s dedicated corporate finance business unit, Navigant Capital Advisors (NCA) serves the middle market Investment Banking, Restructuring, Valuation, and Transaction Advisory needs of companies, private equity groups, lenders, and other creditor constituencies. ^[19]

Economics

The Economic Consulting practice is composed of academic and industry professionals with backgrounds in economics and finance. Consultants provide economic analyses of complex legal and business issues for law firms, corporations, and government agencies. ^[20]

Management Consulting

The Management Consulting professionals provide operational, performance and regulatory assistance to companies undergoing significant business challenges across a variety of industries including Energy, Financial Services, Government and Healthcare. ^[21]

Studies/Research

The Risk Management Paradox

Navigant partnered with the Economist Intelligence Unit (EIU) to conduct a pulse survey on risk management effectiveness. The survey reached out to 180 financial executives globally and focused on the evolving role of risk management in financial institutions. According to the survey results, Financial Services companies are confident about their risk management systems. However, results suggest that the process surrounding them and ensuring effective implementation require improvement. In light of lessons learned from the credit crisis, Financial Services firms plan to pay more attention to the impact of risk on enterprise business and profitability, rather than merely complying with arbitrary levels of risk exposure and performance.^[22]

Credit Crisis Litigation Doubles in 2008, Navigant Consulting Study Finds

Navigant conducted a study on the number of subprime-related filings in 2008. The study shows that cases filed in federal courts in 2008 were twice the number filed in 2007. According to the report, “2008: Seeking Relief,” the credit crisis produced 576 new litigation matters in U.S. federal courts. The number of filings peaked at 179 cases in the first quarter of 2008, but new cases continued to be filed through the year and even trended up slightly following the Lehman bankruptcy filing in September 2008. According to this report, new subprime-related litigation matters will continue to increase in 2009.^[23]

North American Natural Gas Supply Assessment

Commissioned by the American Clean Skies Foundation, Navigant conducted a study in 2008 to assess the current state of natural gas production in North America and determine the long-term viability of natural gas as a clean energy solution. The study focused on natural gas production from three unconventional sources; tight sands, coalbed methane, and gas from shale formations. According to the study, the United States has enough natural gas reserves to last over 100 years. While all three natural gas sources have increased production in the last decade, natural gas production from shale formation had grown at an exponential rate to 5 billion cubic feet a day. Given the natural gas production of shale and recent technological advancements, researchers believe the U.S. has the potential to expand the use of domestically produced natural gas for power generation and even vehicle fuel. Navigant's conclusions as to the U.S. potential supply were considered radical at the time of the study, but have now been borne out by the industry and by the U.S. Energy Information Administration.[^[24]

Name and Branding

In March 2003, Navigant announced the launch of its new brand and visual identity. As part of the new brand strategy, all former legacy companies and subsidiaries were united under the Navigant name.^[25]

In conjunction with the five-year anniversary of the brand launch, Navigant unveiled a new website in 2008. The new web site leverages virtual experience technologies to create an interactive forum for connecting with clients. The Knowledge Center, which invites users to explore business insights and perspectives in an interactive 3D environment, serves as a central repository for thought leadership. It provides information to clients through white papers, articles, reports, webcasts and videos. Visitors can read about issues that impact their business, including perspectives on the Credit Crisis and Renewable Energy.^[26]

Staff

Diversity

Navigant offers a Diversity & Inclusion Program to its employees, which provides access to resources, information and programs that support individual and collective professional development and success. The program is also designed to ensure the organization continues to demonstrate the leadership competencies, values and the cultural attributes required to successfully attract, develop and retain top talent and key client relationships from the diverse and global markets the company serves.^[27]

Corporate Citizenship

Navigant’s[ Corporate Citizenship] program is an employee driven initiative focused on volunteerism and charitable giving.^[28] According to the company’s 2008 client annual report, employees have engaged in non-profit board service and pro bono work, and participated in over 60 charitable events. The firms charitable trust program, Lending A Hand foundation, has supported over 200 organizations committed to health and wellness, education and community welfare.^[29]

During 2008, Navigant hosted a number of programs to help educate and empower young people such as the child mentorship program, Young Women’s Conference and Young Persons Programme in London.^[30]

Criticism

King-Harbor Accounting Scandal

In 2005, Navigant Consulting was accused of overcharging Los Angeles County in a contract to work at Martin Luther King Jr.-Harbor Hospital in Willowbrook, CA. County auditors rejected over $206,000 in expenses including unauthorized first-class airfare to and from Los Angeles and determined that Navigant had deleted from their to-do list a number of tasks and goals that they had failed to accomplish.^[31] Despite Navigant's work, King-Harbor failed to meet federal standards for Medicare funding in 2006.^[32] prompting the county to undergo a radical restructuring plan for the hospital.^[33]

Accolades

• MCA Management Awards, Business Strategy Award, 2009 ^[34]
• Best Place to Launch a Career, Business Week, 2007 ^[35]
• 200 Best Small Companies, Forbes, 2006 ^[36]
• The Top 25 Consultants 2006 (Julie Howard, President & COO) Consulting Magazine, May/June 2006 ^[37]
• Hot Growth Companies, Business Week, 2005 ^[38]
• The Hot 100, Fortune, September 2005 ^[39]
• 200 Best Small Companies, Forbes, November 2004 ^[40]
• The Top 25 Consultants 2004 (William M. Goodyear, Chairman & CEO) Consulting Magazine, July 2004 ^[41]

References

1. ^ Navigant Consulting Commences Trading on New York Stock Exchange by Ringing The Opening... - re> CHICAGO, July 27 /PRNewswire/. Prnewswire.com (1999-07-26). Retrieved on 2010-11-15.
2. ^ Metzler Group Changes Name to Navigant Consulting, Inc. - re> CHICAGO, July 15 /PRNewswire/. Prnewswire.com (1999-07-14). Retrieved on 2010-11-15.
3. ^ Metzler Group Closes Merger With Peterson Consulting - re> CHICAGO, Sept. 1 /PRNewswire/. Prnewswire.com (1998-08-31). Retrieved on 2010-11-15.
4. ^ Navigant Consulting, Inc. Acquires Tucker Alan Inc | Business Wire | Find Articles at BNET. Findarticles.com. Retrieved on 2010-11-15.
5. ^ Navigant Consulting, Inc. Acquires Casas, Benjamin & White, LLC | Business Wire | Find Articles at BNET. Findarticles.com (2005-02-09). Retrieved on 2010-11-15.
6. ^ Navigant Consulting, Inc. Acquires Tiber Group, LLC | Business Wire | Find Articles at BNET. Findarticles.com (2005-04-18). Retrieved on 2010-11-15.
7. ^ Navigant Consulting, Inc. Acquires A.W. Hutchison & Associates, LLC | Business Wire | Find Articles at BNET. Findarticles.com (2005-07-18). Retrieved on 2010-11-15.
8. ^ > Navigant Consulting, Inc. Acquires Forensic Accounting and Litigation Consulting Practices of Kroll Lindquist Avey in Canada <. Finanznachrichten.de. Retrieved on 2010-11-15.
9. ^ Investor Relations - Press Release. Navigant Consulting (2006-03-24). Retrieved on 2010-11-15.
10. ^ Navigant Consulting Acquires HP3, Inc. | Health Care > Health Care Overview from. AllBusiness.com (2006-12-01). Retrieved on 2010-11-15.
11. ^ Navigant Consulting Acquires Troika (UK) Limited. | Goliath Business News. Goliath.ecnext.com (2007-08-01). Retrieved on 2010-11-15.
12. ^ Navigant Consulting Acquires Chicago Partners. Reuters. Retrieved on 2010-11-15.
13. ^ Navigant Consulting Acquires The Bard Group. Reuters. Retrieved on 2010-11-15.
14. ^ Investor Relations - Press Release. Navigant Consulting (2010-01-11). Retrieved on 2010-11-15.
15. ^ Investor Relations - Press Release. Navigant Consulting (2010-01-25). Retrieved on 2010-11-15.
16. ^ Investor Relations - Press Release. Navigant Consulting (2010-05-17). Retrieved on 2010-11-15.
17. ^ Investor Relations - Press Release. Navigant Consulting (2010-10-04). Retrieved on 2010-11-15.
18. ^ http://www.navigantconsulting.com/services/disputes_investigations/
19. ^ http://www.navigantcapitaladvisors.com/
20. ^ http://www.naviganteconomics.com/
21. ^ http://www.navigantconsulting.com/services/management_consulting/
22. ^ Navigant Consulting and Economist Intelligence Unit Survey Reveals Financial Services Firms Focused on Enhancing Risk Management Practices in Advance of New Legislation | Business Wire | Find Articles at BNET. Findarticles.com (2009-03-25). Retrieved on 2010-11-15.
23. ^ Quote, News & Summary - DailyFinance. Money.aol.com. Retrieved on 2010-11-15.
24. ^ [1]^{[dead link]}
25. ^ Navigant Consulting Launches New Visual Identity | Business Wire | Find Articles at BNET. Findarticles.com (2003-03-28). Retrieved on 2010-11-15.
26. ^ Navigant Consulting Launches New Website | Business Wire | Find Articles at BNET. Findarticles.com (2008-04-02). Retrieved on 2010-11-15.
27. ^ Careers - Why NCI. Navigant Consulting (2009-01-05). Retrieved on 2010-11-15.
28. ^ About NCI. Navigant Consulting (2009-01-05). Retrieved on 2010-11-15.
29. ^ Navigant Consulting : Client Annual Report. Bestwayforward.navigantconsulting.com. Retrieved on 2010-11-15.
30. ^ Navigant Consulting : Client Annual Report. Bestwayforward.navigantconsulting.com. Retrieved on 2010-11-15.
31. ^ Pact to Fix King/Drew Is Extended - Los Angeles Times. Articles.latimes.com (2005-10-26). Retrieved on 2010-11-15.
32. ^ King/Drew Fails Final U.S. Test. chicagotribune.com (2006-09-23). Retrieved on 2010-11-15.
33. ^ L.A. hospital scales down to small size - Los Angeles Times. Articles.latimes.com (2007-03-01). Retrieved on 2010-11-15.
34. ^ Microsoft Word - Navigant and Tesco.doc. (PDF) . Retrieved on 2010-11-15.
35. ^ Navigant Consulting profile for young professionals. BusinessWeek (2007-01-01). Retrieved on 2010-11-15.
36. ^ Navigant Consulting, The 200 Best Small Companies. Forbes.com (2005-09-29). Retrieved on 2010-11-15.
37. ^ Consulting Magazine Names Industry's Top 25 Consultants. Newsblaze.com (2006-04-26). Retrieved on 2010-11-15.
38. ^ http://businessweek.com/pdfs/2005/0523_hotscore.pdf
39. ^ FORTUNE's Fastest Growing Companies 2005. Money.cnn.com (2005-09-05). Retrieved on 2010-11-15.
40. ^ Forbes 200 Best Small Companies 2004. Forbes.com (2004-10-01). Retrieved on 2010-11-15.
41. ^ – Latest News from the World of Consultancy. Consultant-news.com. Retrieved on 2010-11-15.

External links

• Company homepage