Consulting firm Elix-IRR has rebranded as Elixirr, a move that according to Stephen Newton, the firm’s Managing Partner, sets way for the next stage of growth and maturity.
Elixirr was founded in 2009 by five former senior Accenture advisors*, and has since been on an impressive growth track. Despite the background of the lacklustre economic environment, in particular in the early years, the firm managed to year on year book double-digit growth figures, bringing it to its current size of approximately 60 employees. In 2011 it opened its first international office, in Johannesburg, South Africa, and last year it continued its global expansion with the opening of a hub in the Middle-East (Saudi Arabia).
Going forward, Elixirr’s 10 partners have set ambitious goals, centered around further growth, expansion into new markets/services and a continued professionalisation of the firm’s consulting operations. As part of the strategic plan, the consultancy – voted the ‘Best New Consultancy’ by the MCA in 2014** – has decided to rebrand from its original name Elix-IRR as Elixirr. The original name was born from a play on the word ‘elixir’ and the financial metric “Internal Rate of Return” (IRR). An elixir is historically seen as a medicine or remedy that cures diseases, and IRR is a measure that compares the profitability of investments, with the two combined resembling a brand that is able to solve fundamental business problems in an effective manner.
As part of the rebranding, the logo has been refreshed, introducing a new logo – a fingerprint that according to Stephen Newton, Managing Partner of Elixirr, typifies the firm’s DNA. “The fingerprint icon really reinforces who we are and what we are trying to create – a different type of consultancy. Challenging ineffective convention is what we will always do. We’re a firm of entrepreneurs, a culture of thinkers and makers, and we’re driven by a relentless desire to deliver better and better solutions for our clients.” A change of colours too has been deployed, with Granite and Gold the new mix, representative of natural strength and high value, says Newton. What has remained in place is the differentiated ‘IRR’ part of the logo, previously grey to offset the orange ‘Elix-’, now dubbed gold to yet again stand out. “This illustrates that commercial value (IRR) is at the heart of everything that Elixirr does, for their clients and for their firm,” explains Newton.
Other pillars that are foreseen to contribute to Elixirr’s strategic imperative include the recently launched innovation hubs in London and Silicon Valley, which provide blended technology and innovation services to clients in the tech ecosystem, and Elixirr Capital, the firm’s venture fund that invests in promising start-ups.
Elixirr's rebranding is the second high-profile case in recent months. In December last year Alsbridge, a specialist in outsourcing, rebranded as Aecus. The largest rebranding operation in recent years was the change from Booz & Company to Strategy&, following PwC's acquisition of the strategy consultancy for roughly $1 billion, to meet legal conditions erected during Booz Allen Hamilton's split in 2008.
* Stephen Newton, Graham Busby, Andy Curtis, Mark Goodyear and Ian Ferguson. Stephen Newton and Graham Busby currently act as executive partners, while the latter three co-founders serve as non-executive partners.
** This year Elixirr is in the running for two MCA Awards, Best Young Consultant of the Year (Daniel Garsin) and Best People Project (in collaboration with Morrisons).