Leading executive search international player ARTHUR HUNT CONSULTING and ONV LAW launched an advisory joint venture aimed at serving the dynamic and growing market of mergers and acquisitions, currently estimated at 3 billion Euro in 2021 in Romania.

The new business line will provide integrated services HR and legal advisory to assist companies in restructuring, transformations and integrations following mergers and acquisitions.

"Businesses are now going through a new stage of maturity, merging and acquisitions brought about by the pandemic context", says Radu Nemes, ONV LAW Managing Partner, explaining how the new business idea was created. "The industries in which we expect to see much more of those needs are the energy sector, real estate, FMCG industry, health services, IT and Telecommunications."

A change process is a critical strategic move for an organization, highly sensitive & confidential with major people, financial and legal implications, as well as reputation exposure. Also, it requires thorough legal and financial assessments and endeavors, while an organization`s leaders are also required to have strong change management capabilities and a high level of energy in maintaining the good business shape of the organization.

Sorin Roibu, Managing Partner Arthur Hunt Romania, explains that 80% of change initiatives of any kind in organisations fail due to poor coordination at management level, lack of ownership by leaders or insufficient assessment of reality at ground level.

“We have witnessed cases where failed restructuring, transition or turnaround processes have caused millions in loss to companies, but also damaged reputations and, ultimately, took a toll in client relations", says Roibu.

The two companies have registered a cumulative over 1 mil. EUR turnover in 2020 and expect the new venture to bring a 20% increase in revenue from change management services.