Equiteq advises 4C, a leading Salesforce multi-cloud partner in Europe and the Middle East, on its acquisition by Wipro

London- July 27th, 2020

Equiteq, the leading M&A advisory firm for companies in the Knowledge Economy, is pleased to announce that it has advised 4C, one of the largest Salesforce partners in UK, Europe and the Middle East, on its acquisition by Wipro, a leading global information technology, consulting and business process services company.

About the Transaction

On July 23, 2020, Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), announced that it has signed a definitive agreement to acquire 4C, one of the largest Salesforce partners in UK, Europe and the Middle East.

Established in 1997 with its headquarters in Mechelen, Belgium, 4C is an independent Salesforce Platinum Partner and one of the leading customer-centric consultancies in Europe and the Middle East. 4C has deep capabilities across multiple Salesforce clouds including Sales, Marketing, Field Services and specializes in transforming Quote-to-Cash processes with Salesforce’s Configure, Price, Quote (CPQ) and Billing solutions. 4C has successfully delivered over 1500 projects, for more than 500 customers and is one of EMEA’s most certified Salesforce partners with over 1000 Salesforce certifications.

With over 350 employees based out of local offices in London, Paris, Brussels, Copenhagen and Dubai, 4C has a robust Salesforce practice in the UK, France, Benelux, the Nordics and the United Arab Emirates regions. This acquisition significantly strengthens Wipro’s position as a leading provider of Salesforce solutions in these markets. Wipro has a well-established Salesforce business in the Americas, Japan and Australia which was reinforced with the Appirio acquisition in 2016. 4C will be consolidated as part of Wipro’s Salesforce practice, which provides market leading solutions globally around multiple Salesforce clouds and its ecosystem of products.

Jerome Glynn-Smith, Equiteq’s Managing Director in London, said, “We are delighted to have delivered this transaction, setting 4C up for its next phase of expansion. We see an ongoing trend of business combination between innovation boutiques and global majors in consulting, to support the ever-expanding scope of the Salesforce ecosystem.”

“We are excited to have the team at 4C join us. They bring in a rich blend of deep Salesforce expertise across multiple clouds coupled with a team of multi-faceted, multilingual experts with strong regional knowledge. This combination along with Wipro’s reach across the region and industry, will help us become a dominant player in Europe and a leader in Salesforce’s Quote to Cash domain,” said Harish Dwarkanhalli, President, Cloud Enterprise Platforms (CEP), Wipro Limited.

“Wipro shares the same values as we do. Their global presence, robust digital transformation consulting and delivery capabilities and significant investment in the European market, provides an excellent platform for the growth of our employees. We will now leverage this opportunity to take the next leap in building companies for the future for our customers, not just locally but across EMEA,” said Johan Van Genechten, Chief Executive Officer, 4C

The acquisition is subject to customary closing conditions and is expected to be closed in the quarter ending September 30, 2020.


M&A Market Round Table – 30th July

The 4C-Wipro transaction marks Equiteq’s fourth deal in the Knowledge Economy since the end of June. 

This Thursday at 4pm GMT, Equiteq is hosting the latest in a series of webinars covering the latest on M&A market trends, and what buyers/investors are saying and doing.

The session will also feature feedback of results from our M&A Attitudes survey, and address questions from business owners on how to optimize transaction outcomes in the current market.

You can still complete the 10-minute survey here, and add questions you’d like to be covered. The survey includes an option to register for the webinar.  Or you can directly register here.

Equiteq advises Water Street Partners, a leading joint venture and alliance advisory firm, on its sale to Ankura

July 2020

“It is hard to imagine the Equiteq team of Adam Tindall, Dan Kim, Ravi Dosanjh, and Tom Tartaglia delivering a deal under more difficult circumstances. The COVID pandemic was breaking out as we signed the LOI – Adam and the team steered us through tremendous uncertainty with dogged persistence, extraordinary effort, real creativity, and integrity.” – Geoff Walker, Co-Founder Water Street Partners

Water Street Partners, LLC (“Water Street”), a premier joint venture and alliance advisory firm, announced on July 2, 2020 that it has been acquired by Washington, D.C.-based global business and expert advisory firm, Ankura. 

Water Street Partners was founded in 2008 when McKinsey & Co. colleagues James Bamford and David Ernst, along with Corporate Executive Board alum, Geoff Walker, set out to find a better way to do what they love: advise on unique, highly complex joint ventures and alliances. Water Street soon augmented its leadership team with the vital additions of Gerard Baynham and Peter Daniel to grow the enterprise into the world’s premier joint venture and alliance advisory firm. Water Street’s core service offering is centered on transaction, governance, and portfolio advisory services for joint ventures and alliances. In late 2019, Water Street engaged Equiteq’s M&A team to run, manage, and execute a transaction. Water Street is partnering with Ankura to accelerate its growth organically and continue to build on its leading position in the joint venture and alliances market.

“We are excited to join the Ankura team, and we share a commitment to serving clients and a common culture focused on collaboration and respect,” said James Bamford, a Co-Founder and Managing Director of Water Street. David Ernst, also a Co-Founder and Managing Director of Water Street, added, “We look forward to working together with our new colleagues and helping them grow our combined businesses through a continued commitment to exceeding our clients’ expectations.”

Ankura is a business and expert advisory firm based in Washington, D.C. that is widely recognized as the global leader in providing expert advice across a broad array of complex and highly challenging situations.

“We continue to grow our business by attracting top talent in defined and attractive market segments and fostering a collaborative environment that encourages these leaders to leverage one another’s insights and expertise to deliver high-quality, customized solutions to our clients,” said Kevin Lavin, Chief Executive Officer of Ankura. “Water Street is a proven leader in the joint venture and alliance advisory sector. This combination extends our delivery of expert advice to an expanding global client base facing complex and challenging situations.”

Regarding Equiteq’s role in the transaction, Co-Founder and Managing Director Geoff Walker said, “My Co-Founders and I had been consumers of Equiteq’s research for years before embarking on our sale process. It was clear to us that they were deeply experienced in our space and this became even more apparent when we evaluated Equiteq alongside a number of other, highly respected investment banks. Adam and the team did not disappoint. We are thrilled with the value they helped us capture, and more importantly, the home they found us at Ankura to continue to grow our business, serve our clients, and create opportunities for our team.”     

Adam Tindall, Managing Director of Equiteq’s North America practice, commented, “It has been an honor representing the world’s premier joint venture and alliance advisory firm in this transaction. The Water Street team have done a fantastic job at building a highly specialized and successful practice, and Ankura will be a great home to support the company’s growth. We wish the combined team great success.”   

About Equiteq (www.equiteq.com)

Equiteq is the knowledge economy M&A specialist, advising owners of knowledge-intensive businesses around the world from offices in London, Paris, New York, Singapore, and Sydney. Equiteq helps owners best achieve their value and exit objectives through accelerating equity growth and ultimately realizing that value in a trade or private equity sale.

About Water Street Partners (www.waterstreetpartners.net)

Water Street Partners, which will operate under the Ankura brand name, is the world’s leading advisory firm on joint venture transactions and governance.  Water Street’s transaction work specializes in joint ventures and other non-M&A partnerships, both in new deal formation and restructuring. On governance, Water Street advises clients on corporate and joint venture governance, working with boards, management teams, and individual shareholders.

Water Street is built around giving its clients access to the most experienced advisors, the most comprehensive database of practices and benchmarks, the best proprietary tools, and the widest network of practitioners in the world.  Based in Washington, D.C., Water Street’s work spans a wide variety of industries and geographies. Water Street has negotiated, restructured, or advised many of the largest and most complicated partnerships in the world. Since its founding in 2008, Water Street has advised on 250+ JV transactions valued at $750 billion, and supported the shareholders, boards, or management teams in more than 450 existing joint ventures.  Prior to Water Street, its founders were global co-leads of the joint venture and alliance practice of McKinsey & Co.

About Ankura (www.ankura.com)

Ankura is a global business advisory and expert services firm defined by HOW we solve challenges. Whether a client is facing an immediate business challenge, trying to increase the value of their company or protect against future risks, Ankura designs, develops, and executes tailored solutions by assembling the right combination of expertise. We help clients navigate a wide range of corporate performance and risk management challenges, including those pertaining to compliance, investigations, forensics, technology, turnaround and restructuring, and corporate strategy. We build on this experience with every case, client, and situation, collaborating to create innovative, customized solutions, and strategies designed for today’s ever-changing business environment. This gives our clients unparalleled insight and experience across a wide range of economic, governance, and regulatory challenges. At Ankura, we know that collaboration drives results.