West Midlands boutique Risk Evolves has been snapped up by Barnett Waddingham for an undisclosed fee. The specialist risk advisory will now enhance Barnett Waddinham’s wide risk capabilities, while gaining access to a global client base.
Harshil Shah, head of risk and resilience services at Barnett Waddingham, said, “Risk Evolves has been a trusted partner for several years, and this move formalises and strengthens that relationship. Our clients will benefit from continuity of service while gaining access to our combined award-winning expertise.”
Based in Warwickshire, Risk Evolves was founded in 2015. Working with a global client base, ranging from SMEs to large corporates, the firm supports companies to identify risks that could threaten their success.
In an increasingly uncertain global market, those services are coming in for growing demand – leading to Barnett Waddingham to make a move for Risk Evolves. The acquisition of the firm, and its seven-strong Leamington Spa team, will enable Barnett Waddingham to offer its clients deeper advisory services, spanning cyber security, environmental, social and governance (ESG), data privacy and compliance.
According to Shah, the deal “cements BW’s credentials as a leading professional services consultancy that helps clients make better decisions around strategy, operations and people; by leveraging our risk, resilience and data analytics expertise.” It continues a spell of growth for 1,700-strong Barnett Waddingham, which reported turnover of £158.1 million in the year to May 31 2024, up from £145.8 million a year earlier – even as the wider consulting market endures a slowdown.
Following the acquisition, Risk Evolves founder and Managing Director Helen Barge has joined Barnett Waddingham. She will be a principal and senior risk and resilience consultant within the firm.
Barge added, “Barnett Waddingham has a first-class reputation within the risk industry; the firm is well known for building strong, long-term relationships based on collaboration and trust. What particularly attracted us to BW was the alignment of our values; we both prioritise client-centric service, integrity in everything we do, and a genuine commitment to helping organisations build resilience.”