NEW YORK: Financial Dynamics announced today that it has acquired the business consulting firm Westhill Partners and is opening a new business consulting practice in conjunction with the deal.
The acquisition adds consulting services to the agency's existing platform of PR, IR, and public affairs work.
FD CEO Declan Kelly said that the deal, which he saw as an unexploited business opportunity, has been in the works for several months.
"For several years now, the larger consulting companies have been offering an integrated solution which includes and incorporates communications advisory services," Kelly said. "There's no reason why it should not belong within the communications space."
Westhill CEO and founder Ed Reilly will become the head of FD's new business consulting practice. Kelly said that the "vast majority" of Westhill's current employees will be joining FD, but declined to say how many would not. Westhill's two offices, in New York and Washington, DC, will be closed as the brand is absorbed into FD.
Kelly said that "a whole suite" of Westhill's existing clients have agreed to transfer their business to FD. He also expects that many existing FD clients will take advantage of the new services.
"We will begin to market our combined offering starting tomorrow," he said.
Among Westhill's current employees are former John Kerry campaign manager Jim Jordan and former editor-in-chief of the New York Daily News and the New York Post, Lou Colasuonno.
Kelly declined to disclose the financial terms of the acquisition.