The Parthenon Group, a global strategy consultancy firm, has signed an agreement to merge its operations with EY. The combination is subject to the satisfaction of agreed conditions.

Parthenon Group has approximately 300 professionals located throughout Boston, London, Mumbai, San Francisco, Shanghai and Singapore.

Upon closing, the transaction will bring together EY's global reach and its track record of innovation with Parthenon's strategy capabilities across the Global 1000, private equity and education markets.

"Combining EY's and Parthenon's strengths, we will be better positioned in the marketplace to serve as strategic advisors working with companies to develop investment strategies across the capital lifecycle," EY Global vice chair of Transaction Advisory Services, Pip McCrostie said in a statement. "The combination is a great match on many levels. Just one example: Parthenon has first class credentials in the education sector and EY is already committed to making a positive difference in this area around the world."

The combined business will be part of EY's Transaction Advisory Services, operating under the Parthenon brand and the leadership of Parthenon's chairman and managing partner Bill Achtmeyer. It will advise clients on when and where to invest their capital and assess the viability of strategic objectives around growth opportunities and portfolio management. It will also complement other strategy service offerings from different parts of the EY organization, and will play a key role in delivering exceptional client service across all sectors and geographies.

Clearsight Advisors has been acting as the exclusive financial advisor to The Parthenon Group in connection with this proposed transaction.