Service Business Talks with Fexingo: Consulting, Agencies, and Professional Services

In episode 107 of Service Business Talks, Lucas and Luna explore the surprising trend of consulting firms acquiring accounting practices. They dive into the case of Bain & Company's recent purchase of a mid-sized tax and audit firm in Texas, examining the strategic rationale: tighter integration of advisory and compliance services, capturing recurring revenue, and defending against Big Four encroa...

Episode 106 of Service Business Talks digs into the latest vertical integration trend in consulting: firms buying medical clinics. Lucas and Luna break down why a top-10 strategy consultancy recently acquired a chain of primary care clinics in the U.S. Sun Belt for $120 million. They explore the logic: control over employee healthcare costs, a real-world data lab for healthcare clients, and a new...

A growing number of consulting firms are acquiring private jet and air charter operators to control executive travel costs, ensure scheduling flexibility for client-facing partners, and capture margin from the $20 billion business aviation market. In this episode, Lucas and Luna examine the case of a top-tier strategy firm that purchased a regional charter company, the unit economics of owning ver...

Episode 104 of Service Business Talks with Fexingo. Lucas and Luna dig into the surprising trend of consulting firms acquiring artisanal bakeries. Why would a strategy shop buy a sourdough operation? The hosts walk through the financial logic using the recent acquisition of Tartine Bakery by a mid-tier consultancy — how it creates a living case study for food-and-beverage clients, generates hospit...

Lucas and Luna explore why major consulting firms are acquiring independent record labels and music publishing companies. They break down the strategic logic behind Deloitte's 2025 acquisition of a Nashville-based label, how music catalogs serve as alternative assets with stable royalty streams, and what this means for the traditional consulting model. The episode digs into the numbers: music copy...

Lucas and Luna explore a growing trend: consulting firms acquiring 3D printing service bureaus. Using the example of a mid-size firm that bought a rapid prototyping shop in Detroit, they break down the economics — how consultants are merging strategy with physical production to offer 'digital thread' services. They discuss margins, talent retention, and why this is different from the standard IT o...

In this episode of Service Business Talks, Lucas and Luna explore the surprising trend of consulting firms acquiring car washes. They dive into why a strategy consulting firm recently bought a chain of express car washes in the Southeast US, discussing the appeal of recurring revenue, cash flow, and operational simplicity. The hosts examine how this acquisition fits into the broader pattern of con...

Episode 100 of Service Business Talks with Fexingo. Lucas and Luna explore a surprising new frontier in consulting firm acquisitions: veterinary clinics. They drill into the case of Mars, Incorporated — the privately-held candy giant that also owns Banfield Pet Hospital, VCA Animal Hospitals, and BluePearl — and how its model has inspired strategy consultancies to acquire their own vet practices....

In this episode, Lucas and Luna explore the newest trend in professional services vertical integration: consulting firms acquiring talent agencies and staffing firms. With a focus on Accenture's recent purchase of a boutique executive search firm and Deloitte's expansion into tech staffing, the hosts unpack why the Big Four are betting that owning the talent pipeline gives them a competitive edge....

In this episode of Service Business Talks with Fexingo, Lucas and Luna explore the surprising trend of consulting firms acquiring coworking spaces. They dive into the 2023 acquisition of WeWork by Cushman & Wakefield and how it reshapes how consultants work and pitch clients. The hosts discuss the strategic rationale: control over the physical environment, client immersion, talent retention, and r...

Consulting firms are increasingly acquiring law firms, blending advisory and legal services under one roof. Lucas and Luna explore this trend through the lens of a recent acquisition: McKinsey's 2025 purchase of a 30-lawyer antitrust boutique. They discuss the strategic rationale—bundling legal expertise with strategy work, capturing higher margins, and defending against regulatory risk—and the cu...

Episode 96 digs into a surprising trend: consulting firms acquiring watch repair shops. Lucas and Luna explore how McKinsey, BCG, and others are buying high-end horology service centers to gain insights into luxury consumer behavior, secure physical assets, and build client trust through craftsmanship. The hosts discuss the strategic rationale, including the value of tangible assets in an intangib...

In this episode of Service Business Talks with Fexingo, Lucas and Luna explore the latest vertical integration trend in professional services: consulting firms acquiring construction companies. They drill into a specific case—McKinsey's 2023 acquisition of the architecture and engineering firm Arcadis' management consultancy arm—and what it signals about the future of end-to-end project delivery....

Episode 94 of Service Business Talks explores the surprising trend of consulting firms acquiring car wash chains. Lucas and Luna dig into the financial logic behind these deals: the stable recurring revenue of subscription-based car washes, the operational simplicity compared to other service businesses, and the technology leverage from IoT sensors and CRM systems. They examine a specific case stu...

Consulting firms have been on an acquisition spree buying everything from coffee shops to airlines. In episode 93 of Service Business Talks with Fexingo, Lucas and Luna explore the latest frontier: campgrounds. They dive into why firms like McKinsey and Deloitte are snapping up RV parks and glamping resorts, with a deep look at one specific deal: KPMG's acquisition of a 200-site campground in Colo...

In episode 92 of Service Business Talks, Lucas and Luna explore the surprising trend of consulting firms acquiring car wash chains. They dive into the economics behind this move, using the example of a mid-tier consultancy that bought a 12-location express wash network in the Midwest. Lucas explains how recurring revenue models, real estate appreciation, and operational simplicity make car washes...

Consulting firms are acquiring boutique fitness studios—think SoulCycle, Barry's, and local Pilates chains—to offer holistic wellness to employees and clients. In this episode, Lucas and Luna examine the business rationale: retention, brand extension, and a hedge against burnout. They dive into the numbers behind the $4 billion corporate wellness market, the rise of 'fitness-as-a-service' models,...

In Episode 90 of Service Business Talks, Lucas and Luna explore why major consulting firms like McKinsey and BCG are aggressively acquiring data and analytics firms. With over 20 such acquisitions in 2025 alone, the shift from pure strategy advice to data-driven execution is reshaping the industry. The hosts break down a recent deal — Kantar's analytics arm acquired by a top firm for $1.2 billion...

Lucas and Luna dive into the surprising trend of consulting firms acquiring recording studios—not for podcasts, but for high-end client audio and video production. They explore how McKinsey's recent purchase of a West Hollywood studio complex fits into a strategy of owning the entire client engagement pipeline, from diagnosis to deliverables. The hosts discuss the economics of vertical integration...

Episode 88 of Service Business Talks dives into the growing trend of consulting firms acquiring coworking operators rather than leasing traditional office space. Lucas and Luna examine the case of Accenture's acquisition of a minority stake in WeWork competitor Industrious in 2021, and how that deal foreshadowed a wave of similar moves by firms like Deloitte and KPMG. They explore the strategic ra...

In this episode, Lucas and Luna explore the surprising trend of consulting firms acquiring independent podcast networks. They focus on the acquisition of 'The Narrative Network'—a niche business podcast network with 15 shows and around 200,000 monthly downloads—by a mid-sized strategy consultancy called 'Bain & Company'. The deal, valued at roughly $8 million, closed in late 2025. Lucas explains h...

In this episode, Lucas and Luna explore a curious trend: major consulting firms are acquiring specialty coffee roasters. They dig into the specifics of Bain & Company's 2025 purchase of Intelligentsia Coffee's wholesale division, examining why a billion-dollar consulting firm would want to own a coffee supply chain. The hosts discuss the strategic rationale—from client hospitality to brand differe...

In this episode, Lucas and Luna explore a surprising trend in professional services: large consulting firms are buying insurance brokerages. They dive into the strategic rationale, using the example of a top consulting firm acquiring a mid-size commercial insurance broker for $200 million. The discussion covers how this move allows firms to offer risk advisory alongside traditional consulting, cre...

In this episode of Service Business Talks, Lucas and Luna explore why major consulting firms are acquiring specialty pharmacies. With US drug spending hitting $500 billion annually, firms like McKinsey and Deloitte are buying pharmacies to integrate patient data, clinical insights, and medication management into their healthcare consulting practices. Lucas breaks down the economic rationale—these...

In this episode, Lucas and Luna explore why top consulting firms are acquiring or chartering private jet operations to transport their partners and senior consultants. They discuss the business case behind these moves—cost savings versus partner convenience—and highlight the example of a mid-tier firm that purchased a fractional ownership of a small jet fleet. The hosts also unpack the strategic r...