Equiteq advised knowledge economy M&A deals: Q2 2018

By David Jorgenson, CEO, Equiteq

  • Dartmouth Partners received investment from Literacy Capital
  • The NAV People management buy-out by FPE Capital
  • c3/consulting sold to Ankura
  • Business Integration Partners (Bip) received majority investment from Apax Partners

Equiteq has had a very busy start to 2018 across our global business and this positive momentum is carrying into the summer. As I arrive back in New York from a series of meetings with our regional business leads in Europe and Asia, it is clear that activity in our sector remains robust and acquisition remains a critical component of the growth strategy for industry players. Recent data from Thomson Reuters indicates that global M&A across industries hit record levels in the first half of the year driven by a strong global economic outlook and record levels of capital available for deals.

We have completed transactions for a range of clients operating in the disruption zone of the rapidly transforming knowledge economy. We are also excited to commence work with a range of new clients that consider the current market conditions to be optimal for commencing an exit of their knowledge-intensive services business. In this blog we highlight our recent transaction advisory work which resulted in successful sale outcomes for our clients.

Dartmouth Partners received investment from Literacy Capital
Sector: Human resources Geography: Europe

Equiteq advised Dartmouth Partners Ltd, a rapidly-growing, boutique recruitment consultancy, on its recent minority investment from Literacy Capital plc. Founded in 2012 by Logan Naidu, the company has become the market leader in placing graduate to director level staff in the financial services, legal and corporate development and strategy sectors. Dartmouth Partners has offices in London and Frankfurt and ambitious plans to add new locations in the foreseeable future. Partnering with Literacy Capital will support Dartmouth’s geographic and sector expansion and the company’s continuous investment in growing and developing its current teams.

The NAV People management-led buyout by FPE Capital
Sector: IT services & software Geography: UK

Equiteq is pleased to announce that it has advised The NAV People (TNP) on its recent management buy-out, which was led by the existing management team and backed by investment from FPE Capital. TNP is a leading value-added reseller of Microsoft Dynamics NAV and Dynamics 365 enterprise resource planning software, providing software, implementation and support services to mid-sized corporate clients, primarily in the UK. TNP was founded in 2009 and is headquartered in Newbury. The company employs c.140 staff. FPE is a private equity investor specializing in making investments into dynamic, growth companies in the lower mid-market in the UK. FPE is partnering with the existing TNP management team, which will continue to be led by CEO, Ian Humphries.

c3/consulting sold to Ankura
Sector: Management consulting Geography: US

Equiteq advised c3/consulting, Nashville’s leading management consulting firm, on its sale to Ankura, a Washington, DC-based business advisory and expert services firm. Founded in 2005 by Beth R. Chase, c3/consulting became a leading management consulting firm and one of the 10 largest women-owned businesses in Middle Tennessee. The firm helped deliver and accelerate transformational change within Fortune 500 and private equity-backed growth companies across a range of industries, including healthcare, financial services, banking, insurance, and technology. Along the way, c3 and its employees received prestigious accolades for excellence in workplace culture, volunteerism, entrepreneurship, and more.

The acquisition enhances Ankura’s strategy and operational consulting capabilities and enables c3 to expand its reach across the country. c3’s nearly 120 professionals will integrate into Ankura, creating a firm with over 575 professionals and 14 offices located throughout the U.S. and Puerto Rico.

Business Integration Partners recapitalized by Apax Partners
Sector: IT and Management consulting Geography: Italy

Equiteq advised Business Integration Partners (Bip), a leading European consulting firm headquartered in Italy, and its majority investor, middle market private equity firm Argos Soditic, in connection with their agreement to sell a majority stake in Bip to Apax Partners, one of the pre-eminent global private equity investors.  Apax represents the perfect partner to support Bip’s long-term growth, which includes pursuing both organic and inorganic growth globally.

Founded in 2003, Bip provides management consulting and business integration services to support companies in the research and adoption of disruptive technological innovation.  The company has over 1,800 professionals in 11 countries and works with a range of international clients across financial services, life sciences, technology & media, manufacturing, energy, and the public sector.

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