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

Lucas and Luna explore the surprising trend of consulting firms acquiring high-end art galleries. They dive into the case of McKinsey's 2025 purchase of Gagosian's digital arm, analyzing the strategy behind vertical integration in art advisory, client entertainment, and brand prestige. The episode uncovers how this move allows firms to capture fees from art-related M&A, curate exclusive client exp...

Lucas and Luna dive into a quiet but fast-growing trend: consulting firms buying their own public relations agencies. They trace the shift from McKinsey's 2019 acquisition of a strategic communications firm to the current wave where six of the top ten consultancies now own a PR arm. They ask what this means for independence, for the client, and for the future of professional services. Specific num...

Consulting firms have been on a buying spree, but their latest acquisition target might surprise you: restaurant chains. In this episode, Lucas and Luna explore why McKinsey, BCG, and Deloitte are investing in casual dining and fast-casual concepts. They break down the strategy behind McKinsey's acquisition of a 20-unit burger chain in the Midwest, the operational logic of using restaurants as rea...

In this episode of Service Business Talks, Lucas and Luna explore the growing trend of consulting firms launching their own venture capital arms. Using the specific example of Accenture's $300 million AI-focused VC fund, they discuss why consultancies are moving from advising startups to investing in them directly. The conversation covers the strategic logic behind these moves—access to emerging t...

In this episode of Service Business Talks, Lucas and Luna explore why major consulting firms are investing in their own data center infrastructure. With the rise of AI, massive datasets, and client concerns about data privacy, firms like McKinsey, BCG, and Deloitte have begun acquiring or building dedicated data centers. The hosts discuss the driving forces: the need for secure, high-performance c...

Episode 77 of Service Business Talks explores a surprising consolidation trend: consulting firms acquiring credit unions. Hosts Lucas and Luna examine the case of Deloitte's 2025 acquisition of a Colorado-based credit union with $1.2 billion in assets, and why McKinsey, BCG, and Accenture followed suit. They break down the economics — credit unions offer cheap deposits (often 2-3% lower than comme...

Episode 76 of Service Business Talks digs into a surprising trend: top-tier consulting firms like McKinsey and Deloitte are acquiring boutique wineries. But not for corporate retreats or client entertainment. Lucas and Luna unpack the strategic logic behind these acquisitions — how firms are using wineries as living labs for supply chain innovation, data analytics, and brand storytelling. They exa...

In this episode of Service Business Talks, Lucas and Luna explore a surprising new trend among top-tier consulting firms: acquiring boutique hotels. They dive into the case of McKinsey & Company's purchase of The Ned in London and Boston Consulting Group's investment in Ace Hotel Kyoto. The hosts discuss how these acquisitions serve as experiential learning labs for junior consultants, client ente...

In this episode of Service Business Talks, Lucas and Luna explore the surprising trend of major consulting firms acquiring physician practices and medical groups. They examine the case of McKinsey's 2025 acquisition of a 50-doctor multi-specialty clinic in Phoenix, analyzing how consulting firms are moving beyond traditional advisory roles into direct healthcare delivery. The hosts discuss the str...

Episode 73 of Service Business Talks with Fexingo. Lucas and Luna explore the surprising trend of top consulting firms launching their own coffee shop chains. They break down how McKinsey's 'The Workshop' cafes, BCG's coffee lab, and Deloitte's University coffee bars are more than just perks — they're strategic tools for recruitment, client engagement, and brand extension. Drawing on real estate d...

As consulting firms look for new revenue streams, some are venturing into direct-to-consumer subscription boxes. This episode explores why firms like McKinsey and BCG are launching monthly curated packages for executives. Lucas and Luna discuss the economics: how these boxes generate high-margin recurring revenue, reinforce brand loyalty among alumni, and serve as data collection tools for consult...

Consulting firms have spent years battling a talent crisis — and now they're buying the gatekeepers. In this episode, Lucas and Luna explore why firms like McKinsey and Deloitte are acquiring boutique talent agencies and staffing firms instead of just hiring recruiters. They look at the numbers behind the war for senior consultants, the economics of owning your own pipeline, and what this means fo...

In this episode of Service Business Talks, Lucas and Luna explore a surprising trend: top consulting firms are acquiring boutique law firms to offer integrated legal and strategic advisory. They dive into the case of McKinsey's acquisition of a London-based M&A law firm in early 2026, examining what it means for the traditional boundaries between consulting and legal services. The hosts break down...

Consulting giants like Accenture and Deloitte have been quietly acquiring accounting firms at a record pace. In this episode, Lucas and Luna break down why — from cross-selling audit services to plugging talent gaps — and what it means for the future of professional services. They dive into the numbers: over 40 accounting firm acquisitions by the Big Four and major consultancies in 2025 alone, and...

In this episode of Service Business Talks, Lucas and Luna explore a surprising trend: consulting firms are acquiring dental practices. They dive into the economics behind it, using the example of a mid-sized consulting firm that bought a 20-location DSO (Dental Service Organization) in Ohio for $45 million. The conversation covers how firms are bundling dental practices with management consulting...

In this episode of Service Business Talks with Fexingo, Lucas and Luna explore why top consulting firms are acquiring specialized cybersecurity insurance carriers. They dive into the logic behind vertical integration in risk management, using the example of a Big Four firm buying a cyber-insurer to offer combined advisory and coverage. The hosts discuss how this trend reshapes client relationships...

This episode examines the growing trend of consulting firms acquiring private helicopter fleets for executive travel. Lucas and Luna discuss the operational rationale, cost implications, and competitive advantages, using the example of McKinsey & Company's recent purchase of five Eurocopter EC135s for $20 million. They explore how this vertical integration reduces travel time, enhances client resp...

Episode 65 of Service Business Talks investigates why major consulting firms are snapping up coworking chains, with Bain & Company leading the charge through its 2025 acquisition of Knotel assets. We explore how the financial math changes when a firm owns the real estate it rents to clients: margins on office space become a reliable revenue stream, client retention improves through embedded servic...

Episode 64 of Service Business Talks with Fexingo examines the surprising trend of consulting firms launching in-house music labels. Lucas and Luna explore why firms like McKinsey and Deloitte are investing in artist development and music publishing. They discuss the strategic rationale: brand differentiation, talent attraction, and alternative revenue streams. Specific focus on McKinsey's label,...

This episode explores a surprising trend: consulting firms acquiring wine vineyards. Lucas and Luna discuss why McKinsey, BCG, and others are investing in winemaking, from client entertainment to operational case studies. They unpack the economics behind a single Napa Valley vineyard acquisition worth $12 million and what it means for firm culture and client relationships. No fluff—just a concrete...

In this episode, Lucas and Luna explore a counterintuitive trend: consulting firms acquiring small regional airlines. They focus on the case of McKinsey & Company's 2025 purchase of a private aviation company serving its Middle East practice. Lucas explains the economics behind the move—how it saves millions in chartered flight costs, ensures client confidentiality, and creates a competitive edge...

Consulting firms are acquiring printing presses—yes, the industrial kind. In this episode, Lucas and Luna unpack why Bain & Company bought a printing subsidiary in 2025 for $47 million, and why McKinsey now runs its own on-demand publishing arm. They trace the logic: proprietary content control, client gifting, and a surprising arbitrage on production costs. With print still a $780 billion industr...

Episode 60 of Service Business Talks explores why consulting firms are investing in formal alumni networks. Lucas and Luna discuss how McKinsey, Bain, and BCG have launched platforms to stay connected with former consultants, turning them into a powerful business development and recruiting asset. The conversation dives into the economics of these networks, including McKinsey's reported 50,000-memb...

A growing number of consulting firms are acquiring marketing agencies to offer end-to-end strategy and execution. Lucas and Luna examine Deloitte's recent purchase of a digital marketing firm and what it means for the traditional consulting model. They discuss the rationale — from capturing more client spend to building data-driven creative capabilities — and the risks of culture clash between con...

Episode 58 of Service Business Talks examines a surprising trend: top consulting firms are acquiring art galleries. With McKinsey, Deloitte, and BCG all making moves in the fine art space, we explore why. Lucas breaks down the numbers: the global art market hit $67 billion in 2025, and consulting firms are carving out a niche in art advisory—advising HNW clients, curating corporate collections, an...