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Overview
TRC Advisory is a Chicago-based management consulting firm that helps public companies, private companies, and private equity firms with strategy, pricing, performance improvement, and go-to-market initiatives. Senior-led teams work closely with clients, with partners actively involved in delivering actionable recommendations and implementation support. The firm specializes in industrial and manufacturing sectors and focuses on measurable value through strategic and commercial improvements. In 2025, it joined Elixirr International, with its leadership becoming Elixirr partners to extend capabilities in the U.S.
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Simplify's take
What believers are saying
- Elixirr said TRC is performing ahead of the acquisition case in 2026.
- Elixirr's 2025 revenue rose 35% to £71.4 million, expanding cross-sell opportunities.
- Chicago became Elixirr's US hub, giving TRC broader global deal access.
What critics are saying
- Elixirr paid about $121.6 million in September 2025, creating tough retention pressure.
- TRC's identity is now tied to Elixirr; weak integration erases standalone brand value.
- Industrial consulting is crowded; McKinsey, Bain, and Oliver Wyman attack TRC's same buyers.
What makes TRC Advisory unique
- Tim Romberger built TRC on senior-led teams, not pyramid leverage.
- TRC specializes in industrials, manufacturing, pricing, and value acceleration for PE-backed clients.
- Elixirr calls TRC a Chicago-based 'Mini-Bain' with strong go-to-market expertise.
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