Courtesy / Readiness Associates
Michael Boardman, CEO and founder of Readiness Associates
Updated: May 27, 2020
Portland niche consultancy makes first acquisition
Readiness Associates, a Portland-based consulting firm focused on business continuity and emergency preparedness for the health care sector, is making its first-ever acquisition as it looks to expand to other industries.
The firm, led by CEO and founder Michael Boardman since 2015, announced on Tuesday it has agreed to acquire Continuity Dynamics Inc., a Basking Ridge, N.J.-based disaster-recovery firm. It operates offices in eight U.S. locations from Los Angeles to New York City and has handled pandemic planning in international ones including the Philippines, Indonesia and Hong Kong.
Financial terms of the transaction were not disclosed.
In response to queries from Mainebiz, a spokesman said that while the companies are small, with eight employees at Readiness Associates and three at Consultancy Dynamics, they are anticipating a growth spurt and expansion.
He also said that hiring plans in the short- and medium-term are undetermined and that future hires will be contractors and consultants.
The transaction follows seven to eight weeks of talks between the two firms.
Boardman said in a news release that Continuity Dynamics has been a longtime collaborator with his company "and shares the same philosophy of excellence in customer service in this critical business sector."
He also said that Continuity Dynamics' team of experienced risk-management specialists and suite of solutions for enterprise and small- and medium-sized businesses "fit perfectly into the Readiness Associates domain.”
John Panchery, senior vice president of client services for Continuity Dynamics, said that Readiness Associates "will take Continuity Dynamics solutions to some of the largest and most important healthcare groups in the nation."
He added that "beyond health care, there will be a focus on pharma, finance, insurance, HR and other industries and to help ensure that the supply chains for all companies are not as severely impacted as seen in today’s times. Companies must remain viable to serve their communities.”
Toward the end of the year, the enlarged entity will operate under the name Readiness Associates powered by Continuity Dynamics.
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