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COOPERS & LYBRAND ACQUIRES HARBRIDGE HOUSE

    NEW YORK, Aug. 5 /PRNewswire/ -- Coopers & Lybrand, the international professional services firm, announced today that it has acquired the international consulting firm, Harbridge House.  Harbridge House's human resource practice provides services in leadership and management development, competency assessment, organization change and the management of diversity.  In addition, Harbridge House has specialized industry consulting practices in transportation strategy and government contract management.
    The acquisition of Harbridge House, with offices in Boston, Chicago, New York, Washington and London, is the latest in a series of strategic moves by Coopers & Lybrand designed to broaden the services offered by its human resources advisory group in direct response to the needs of the firm's clients.
    "Coopers & Lybrand's strategy calls for the firm to attract and retain the very best people and to associate with world-class thought leaders and organizations.  The addition of Harbridge House helps us fulfill this mission.  It contributes to making us the market leader among professional services firms by setting the standard for market focus, client service and people development," Eugene M. Freedman, chairman and chief executive officer of Coopers & Lybrand, said in making the announcement.
    "We have dedicated ourselves to building depth and quality of human resource consulting, and Harbridge House's wealth of experience and outstanding people complements our international firm strategy to deliver a full range of services to local and multinational clients," Freedman said.
    The Harbridge House acquisition is the latest in a series of mergers and acquisitions for Coopers & Lybrand's human resource advisory group, and makes it the fifth largest human resource consulting firm in the world.  Within the past year the firm has acquired W.F. Morneau & Associates, headquartered in Toronto with offices throughout Canada; and Bufete Matematico Actuarial, Mexico's largest independent benefits and actuarial consulting firm.
    Reed A. Keller, chairman of Coopers & Lybrand's human resource advisory group, said that "Harbridge House's capabilities in organization effectiveness and development will complement Coopers & Lybrand's existing practices in employee benefits, compensation and human resource technology so that we will now be able to meet the full range of our client's needs."
    Ernest I. Glickman, chief executive officer of Harbridge House, said that "The international resources of Coopers & Lybrand will allow Harbridge House to add a broader range of human resource services for our clients.  Both firms recognize that the effective management of human resources will be critical to the success of business enterprises in the 1990's.  Affiliation with Coopers & Lybrand will also enhance our presence worldwide and provide new capabilities for our industry-based practices."
    Five Harbridge House executives will become partners with Coopers & Lybrand.  Glickman, who will serve as managing partner of Coopers & Lybrand's organization effectiveness and development unit with the human resource advisory group, and Daniel M. Kasper, a transportation industry consultant, join the firm in Boston.  M.W. (Bud) Block, who heads Harbridge House's organization change practice, and John Furcon, whose expertise encompasses training, competency and organization change, will become partners in the firm's Chicago office.  Thomas J. Collins, III, a consultant in performance metrics related to business processes, especially in human resource programs, will be located in Washington.
    Since its founding in 1950 by three members of the Harvard Business School faculty, Harbridge House has served clients in major industries and government agencies throughout the United States and Europe. Harbridge House currently has more than 200 clients, many on the Fortune 100 list, and 90 employees.  Its 1992 revenues were $15 million.  The financial details of the acquisition were not disclosed.
    Coopers & Lybrand's human resource advisory group employs 1000 professionals in 21 cities in the United States, and provides consulting services in all aspects of human resources and employee benefits to more than 2,000 corporate clients in a wide range of manufacturing and service industries.
    -0-             08/05/93
    CONTACT:  Doris L. Brown, 212-536-2013, or David L. Nestor, 212-536-2965, both of Coopers & Lybrand CO:  COOPERS & LYBRAND IN:  FIN SU:  TNM ST:  NY


-- NY090 -- X382 08/05/93
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Publication:PR Newswire
Date:Aug 5, 1993
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