February 2017: Consulting M&A Update

 By Ramone Param, Associate Director, Market Intelligence & Buyer Coverage, Equiteq.

Blackstone acquires Aon’s human resources outsourcing business

The Blackstone Group agreed to pay up to $4.8bn to acquire Aon’s human resources outsourcing business. The Aon unit processes work benefits for 15% of the US population and is a provider for cloud-based human resources management systems. Blackstone is believed to have prevailed over buyout firm Clayton Dubilier & Rice in an auction for the business.

Aon acquired the business in 2010 as part of its $4.9bn acquisition of Hewitt Associates. The transaction with Blackstone is expected to enable Aon to focus on growth areas like cybersecurity and health insurance, while using part of the proceeds to buy back shares.

The deal will be structured whereby Aon receives $4.3bn in cash, plus up to another $500m in earn-out.

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Equiteq advises McKinney Rogers on its sale to GP Strategies Corporation

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Equiteq is pleased to announce that it has advised McKinney Rogers, a results-driven global consultancy, on the sale of its business to GP Strategies Corporation (NYSE: GPX), a Maryland-based performance improvement solutions provider. Equiteq acted as exclusive financial advisor to McKinney Rogers.

Debbie Ung, GP Strategies’ Executive Vice President, stated, “The acquisition of McKinney Rogers will further equip GP Strategies with the essential resources our customers require to successfully execute business strategies and provide greater transparency and visibility into their business outcomes at the C-suite level. We believe that McKinney Rogers’ expertise will bring a synergistic value to our Global 500 customers.”

Damian McKinney, CEO and Founder of McKinney Rogers, said “I am extremely grateful to Equiteq for their hard work, support and tenacity throughout this process. Their consulting industry expertise and advocacy skills helped us to position our business for a successful transaction and I would recommend them unreservedly to any consultancy business owner considering a sale.”

Adam Tindall, Director in Equiteq’s New York office, commented, “McKinney Rogers is a world-class consultancy with an impressive track record of embedding their business operating system into global organizations to help C-suite executives achieve exceptional, sustainable corporate performance. The strategic and synergistic fit between McKinney Rogers and GP Strategies was immediately apparent. I wish both parties a successful future together.”

To see the full press release, please click here.

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