Two months after entering Kosovo, CIVITTA entered the Armenian market with the acquisition of the company EV Consulting based in Yerevan.
“The acquisition is in line with our expansion strategy, aiming to become the leading player in consulting in the region,” said Adam Saulius Vaina, member of the board of directors of CIVITTA, which sees its number of offices increase to 27 in 17 European countries.
Founded in 2006, EV Consulting has grown over the past fifteen years as a leading management consulting, research and corporate finance company in Armenia. The company was founded by Manuk Hergnyan, who is also the co-founder of Granatus Ventures – Armenia’s first venture capital fund with a current portfolio of 15 companies.
Unpacking the company’s services, Hergnyan said: “We work with international organizations and private clients providing strategic development services, investment advice (business plans, feasibility studies, business valuations, mergers and acquisitions), market studies and performance improvement (KPI systems, financial planning, compensation systems).
Among the most notable projects of the company are: supporting the establishment of the Armenian National Engineering Laboratories and helping a local pharmaceutical company to attract capital investment from the EBRD (“one of the first in his genre “). The consultancy is also the author of the “Armenia National Competitiveness Report”, a flagship report published every two years that informs leaders of the public and private sectors.
Under the banner and with the support of CIVITTA, EV Consulting plans to expand its services. “This will allow us to work more on international projects, with a much more diverse set of clients, as well as to evolve in more diversified sectors and to develop new areas of expertise. ”
Meanwhile, the joining of forces will help EV Consulting to “develop skills and skill sets for our team, which will be given more opportunities for career growth while working on interesting international projects”.