Wavestone accelerates its U.S. expansion with the acquisition of Sand Cherry

Wavestone announces the acquisition of Sand Cherry, a Denver-based business consulting firm specializing in enterprise transformation. This transaction marks a new milestone in Wavestone's expansion in the United States, one of the key priorities of its Lead the shift strategic plan through 2030.

NEW YORK, Sept. 14, 2026 /PRNewswire/ -- Founded in 2001 and headquartered in Denver, Colorado, Sand Cherry is a business consulting firm supporting large enterprises in defining and executing critical transformation programs. Historically focused on the Telecom, Broadband and Media vertical, the firm has successfully expanded into adjacent verticals, including Energy, Utilities & Infrastructure.

Over the years, Sand Cherry has built long-standing, trusted relationships with senior executives and today serves numerous Fortune 200 enterprises.

The firm is approximately 130 permanent employees strong with team members distributed across the United States. Its people-centric culture, focused on mentorship, professional development, and continuous learning, has earned Sand Cherry recognition as an Inc. Magazine's 'Best Workplaces' for four consecutive years running, as well as an 'Editor's List' distinction in each of the past two years.

Following an average annual growth rate of more than 15% over the past three fiscal years, Sand Cherry is targeting approximately $31.5 million (€27.1 million) in revenue in 2026 (fiscal year ending December 31^st, 2026), with an adjusted EBITDA margin of 15%.

A new milestone in Wavestone's expansion in North America

As part of its Lead the shift strategic plan, Wavestone has made international expansion, and the United States in particular, one of its key priorities through 2030. The firm aims to build a leading consulting platform in the U.S. to support the largest enterprises through their most critical transformations, combining industry expertise, technology capabilities, and strong execution knowhow.

The acquisition of Sand Cherry accelerates this strategy. It strengthens Wavestone's presence in the world's largest consulting market, expands its portfolio of Fortune 200 clients, and reinforces its position in high-growth potential sectors, particularly Energy, Utilities & Infrastructure.

The combination is built upon highly complementary strengths. Sand Cherry brings long-standing client relationships, deep expertise leading complex business transformation, and a proven track record of growth servicing major industry players across the United States. Wavestone brings international scale and deep technology expertise, particularly in AI and Cybersecurity. Together, the two firms have a strong foundation to accelerate the development of a leading business transformation consulting firm in North America, bringing Wavestone's North American workforce to approximately 370 employees, spread across key cities including Dallas, Denver, New York, Pittsburgh, Toronto and Washington DC. The move strengthens the firm's ability to serve large enterprise clients across key sectors such as Financial Services, Life Sciences & Healthcare, Technology and Broadband, and Energy, Utilities & Infrastructure.

Reza Maghsoudnia, Strategic Development Director at Wavestone, said: "The acquisition of Sand Cherry marks an important milestone in Wavestone's expansion in the United States. We share the same commitment to quality, a strong entrepreneurial culture, and the ambition to support our clients through their most strategic transformations. By joining forces, we are strengthening our ability to offer large US companies a combination of deep industry expertise and technology excellence."

John Calhoon, CEO of Sand Cherry, added: "Joining Wavestone opens a new chapter for Sand Cherry Associates. It will enable us to give our clients access to complementary expertise and a broader international presence, while preserving what defines us: close relationships with our clients, the highest standard of performance for our teams, unwavering commitment to client results and continued dedication to our strong culture, that prioritizes positive professional work experience, development and growth."

About Wavestone

Wavestone is a leading consulting firm operating at the intersection of business and technology. The firm helps organizations scale new ways of working, transform operations, and reinvent business models in the age of AI.
With 6,000 employees across Europe and North America, Wavestone delivers end-to-end consulting services that combine business, transformation, and technology expertise. The firm integrates AI across its capabilities and delivery approach, helping clients turn potential into tangible, sustainable value.
Wavestone is listed on Euronext Paris and is certified as a Great Place to Work®.

About Sand Cherry

Sand Cherry is a business consulting firm with 25 years of experience helping clients address complex business and technology challenges. Its team combines proven consulting expertise with hands-on industry and executive experience to deliver actionable, measurable business results. Trusted by major industry players, including many long-standing clients, Sand Cherry provides both strategic advisory and execution support to help organizations navigate critical transformations.

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SOURCE Wavestone