Two Italian consulting firms – Bonfiglioli Consulting and Octagona – have joined forces with the ambition of becoming one of the main consulting groups of Italian origin.
Founded in 1973, Bonfiglioli Consulting has a team of around 80 employees who serve clients in Italy and abroad – the company has consultants and associates based in 12 countries.
Bonfiglioli Consulting specializes in operations, performance improvement, digitization and lean manufacturing, and presents itself as the first consulting firm to bring lean thinking to the Italian market.
Counterpart Octagona is a smaller consultancy (staff of around 30 people) but with a similar international profile. From its headquarters in Modena, the company helps Italian companies to successfully enter foreign markets and develop their international operations. Octagona provides consulting, export, sales and business development services.
Facilitating its international work, Octagona has offices in India, Vietnam, Brazil and the United States, as well as partnerships with like-minded consultants in other corners of the world.
Already working together since 2017 (when Bonfiglioli Consulting acquired a minority stake in Octagona), the two companies have now taken their partnership to the next level through a full merger. Technically, Bonfiglioli Consulting has increased its stake in Octagona to hold a majority share.
“Since our paths met in 2017, when Bonfiglioli Consulting visited our office in India to explore the local market, our partnership has only gone from strength to strength,” said Alessandro Fichera, CEO of Octagona.
Together, the two consultancies have over 100 consultants and a project portfolio of over 300 projects delivered each year, with revenues expected to cross the €10 million mark by the end of 2022.
Meanwhile, Bonfiglioli Consulting is part of Cordence Worldwide, which means that experts from both groups can tap into one of the largest management consulting networks. Through its 10-member firm, Cordence Worldwide has 3,500 consultants in more than 50 offices.
Michele Bonfiglioli, CEO of Bonfiglioli Consulting, said of the agreement: “It stems from our ambition to create a leader in Italian consulting and a group with the size and capabilities to help large Italian groups in their national projects. and international”.
He added that the firm aims to become a serious alternative to traditional global consultancies which “are usually German, American, British or Japanese”. “We are proud of our Italian know-how and do things in a unique way.”
Over the next three years, Bonfiglioli Consulting and Octagona aim to increase their joint revenues to more than 15 million euros. The launch of new offices in Asia and the United States are key pillars of the growth program.