Oliver Wyman bolsters aviation business with SeaTec Consulting
Strategy and management consultancy Oliver Wyman has closed out the year with an acquisition in its aerospace division. SeaTec Consulting is Oliver Wyman’s second acquisition in aeronautics in the last 12 months, and will strengthen its offering to the aviation and defence sectors.
Founded 20 years ago, SeaTec is a US-based consultancy, but also has offices in Canada and the UK. Since its inception, SeaTec has provided expertise and insight to clients on aircraft acquisitions, engineering, maintenance records, MRO IT systems replacements, operational improvement, and supply chain solutions.
SeaTec will join CAVOK, a division of Oliver Wyman, focused on aviation services. Looking ahead, this will help CAVOK extend its technical services and consulting capabilities in the sector, scaling the business globally. Meanwhile, the move will provide SeaTec with the opportunity to grow its own client base, via Oliver Wyman’s global network.
SeaTec Chairman Tim Rider said, "Our companies share a strong set of core values including caring for our customers and our people. Joining the CAVOK team furthers the SeaTec mission to deliver excellence, delight our customers, and unleash the potential of our people and our clients."
The transaction is expected to close in the first quarter of 2024 – and is Oliver Wyman's second recent acquisition in the aviation consulting industry. At the close of 2022, Oliver Wyman also acquired aerospace and defence management consulting firmAvascent, which focuses on the corporate and private equity sectors.
"As a firm with deep expertise, Oliver Wyman and our Transportation Practice are excited about the enhanced capabilities to serve our clients. This combined team will enable Oliver Wyman, CAVOK and SeaTec to continue to make a significant impact in operations, cost, reliability and safety for the aviation, defence, and transportation industries," said Brian Prentice, a partner at Oliver Wyman.
With profit margins tumbling back to Earth, and the planet’s dwindling resources having been over-exploited for decades, a growing number of entities are being drawn to the burgeoning space market. This presents a huge opportunity for UK firms in particular. Lured by the promises of seemingly outlandish projects, from pharmaceutical companies establishing a lab on a space station to study cell growth, to semiconductor companies manufacturing chips in extra-terrestrial factories, almost one-fifth of funds spent on the space sector since 2015 have gone to UK-based projects.
