DSS believes the acquisition, effective from February 29, will deepen its knowledge in the area of "operations excellence", particularly in the natural resources and mining industries.
US-based consulting company DSS split from parent company DuPont, a specialty chemicals producer, last year. It focuses on improving workplace safety and operational performance in sectors such as mining, oil and gas and construction.
Toronto, Canada-based Lodestone Partners also operates globally, with clients in Canada, the US, Australia, South Africa and Saudi Arabia. Its clients include large resource companies, as well as commodity-specific mid-tier mining companies.
DuPont Sustainable Solutions CEO Davide Vassallo said the combination of Lodestone's operational improvement expertise with DSS' risk management knowhow would create "an integrated operations transformation capability that is not currently available in the marketplace".
"This acquisition significantly expands DSS' ability to help our clients protect their people and improve operations and is a significant step forward in our strategy to accelerate growth in select geographies and industries since becoming an independent company in September," he added.
Director of Lodestone Partners Robin Schleich, now director for the operations excellence practice within DSS, said: "DSS is an acknowledged world leader in helping companies protect their people and manage risks, with incredibly strong capabilities in operations risk management, capability development, data analytics and digital technology integration."