Accenture Acquires Anser Advisory While Sterling Spins Off Federal Consulting Unit Markon

In a significant transaction reshaping the advisory landscape, Anser Advisory has been acquired by Accenture (NYSE: ACN), with concurrent plans to separate Markon, the company’s federal consulting division, as an independent entity that will continue operating under Sterling Investment Partners’ investment.

The Transaction and Strategic Rationale

Anser Advisory, a premier infrastructure project advisory and management firm operating across the United States, brings specialized expertise in capital program structuring, project estimation, planning oversight, and comprehensive project execution services. The company has established itself as a trusted partner for major public and private infrastructure owners throughout the entire project lifecycle—from initial strategic planning through final handover.

The company has expanded its service offerings to address emerging market demands, particularly in the clean energy transition space. This includes advisory services for energy transmission infrastructure, renewable energy storage systems, sustainability initiatives, and electric vehicle fleet electrification programs, positioning Anser at the forefront of infrastructure decarbonization trends.

Markon’s Independent Path

Markon, which operates as Anser’s federal government consulting business, will emerge as a standalone organization retaining Sterling Investment Partners as its primary backer. Specialized in federal sector consulting, Markon brings deep expertise in enterprise technology management, financial operations, and program and construction management services supporting various federal agencies with mission-critical solutions.

Ray Carney, previously serving as Chief Delivery Officer, will assume the role of Chief Executive Officer at Markon. Matthew Dean, who founded Markon before transitioning to Anser as Chief Operating Officer, will chair the organization.

Sterling’s Track Record and Investment Philosophy

Sterling Investment Partners, a private equity investor focused on mid-market distribution and business services companies, brings over three decades of investment experience to this transaction. The firm has executed more than 220 transactions representing approximately $28 billion in aggregate transaction value, building a reputation for identifying businesses with sustainable competitive advantages and meaningful value-creation potential.

Leadership Perspectives on the Transaction

Bryan Carruthers, Chief Executive Officer of Anser, expressed optimism about the partnership with Accenture: “This represents an exciting new phase for Anser. Working alongside Sterling, we built a market-leading advisory platform recognized for our expertise in critical infrastructure and proven ability to execute complex, large-scale projects. As our federal-focused colleagues establish their independence, we wish them tremendous success in their continued growth.”

Bill Macey, Managing Partner and Co-Founder of Sterling, emphasized the significance of the dual transaction: “We’re tremendously proud of what Anser’s team has accomplished and look forward to their evolution as part of Accenture’s organization. Equally important is our continued investment in Markon—a business with demonstrated success and innovation capabilities that positions it for significant future growth.”

James Soldano, Partner at Sterling, highlighted the value creation achieved during the partnership: “Throughout our collaboration with Anser, we’ve built an industry-leading platform combining organic expansion with strategic acquisitions. This transaction showcases the company’s strong market positioning and readiness for Accenture’s platform. We remain committed to partnering with Markon’s exceptional management team as they build their federal consulting practice.”

Ray Carney offered his perspective on Markon’s future: “We’re energized about launching this chapter for Markon and working with an exceptionally talented team. Our commitment remains steadfast—delivering innovative solutions that support national security and meet our federal clients’ evolving requirements. Sterling’s partnership will be instrumental as we accelerate our growth and expand our market impact.”