Key Takeaways
- • PwC Australia has acquired Advancy Australia, a Paris-headquartered due diligence firm, to strengthen its deals division and mid-market M&A advisory capabilities.
- • Advancy Australia co-founders Carl Brostrom and David Thevenon will join PwC as partners, bringing a team of six professionals and an established client roster including private equity firms BGH Capital and Quadrant.
- • The acquisition represents a strategic rare M&A move by one of Australia's Big Four consultants to build in-house private equity due diligence expertise and expand deal advisory services.
- • Advancy Australia has operated as an independent franchise within the Paris-based global Advancy network since 2013 before joining PwC's platform.
Summary
PwC Australia has acquired Advancy Australia, a due diligence specialist, in a strategic transaction designed to expand the consulting firm's deals division capabilities in the mid-market private equity sector. The acquisition marks a rare M&A investment from one of Australia's Big Four accounting and consulting firms seeking to strengthen its competitive position in deal advisory services.
Advancy Australia, which has operated as an independent franchise of the Paris-headquartered due diligence network since 2013, will be fully integrated into PwC's deals platform under the transaction. The deal brings co-founders Carl Brostrom and David Thevenon into PwC as partners, along with a team of six professionals. The acquisition also captures Advancy Australia's established client relationships within the private equity community, including marquee sponsors such as BGH Capital and Quadrant.
The transaction positions PwC to compete more effectively in mid-market M&A and private equity advisory by adding specialized due diligence capabilities to its deals practice. By acquiring Advancy's experienced team and client relationships, PwC gains immediate access to established deal flow and expertise in supporting private equity transactions—a critical service line for institutional investors and alternative asset managers. The integration of Brostrom and Thevenon as partners signals PwC's commitment to maintaining continuity and leveraging the acquired team's market credibility and existing sponsor relationships.
Advancy Australia, which has operated as an independent franchise of the Paris-headquartered due diligence network since 2013, will be fully integrated into PwC's deals platform under the transaction. The deal brings co-founders Carl Brostrom and David Thevenon into PwC as partners, along with a team of six professionals. The acquisition also captures Advancy Australia's established client relationships within the private equity community, including marquee sponsors such as BGH Capital and Quadrant.
The transaction positions PwC to compete more effectively in mid-market M&A and private equity advisory by adding specialized due diligence capabilities to its deals practice. By acquiring Advancy's experienced team and client relationships, PwC gains immediate access to established deal flow and expertise in supporting private equity transactions—a critical service line for institutional investors and alternative asset managers. The integration of Brostrom and Thevenon as partners signals PwC's commitment to maintaining continuity and leveraging the acquired team's market credibility and existing sponsor relationships.
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