Globalscope is pleased to announce that Alpha Financial Markets Consulting has been acquired by the UK Private Equity group, Baird Capital, in a transaction valuing the company at £28m. The deal was completed on 24th October 2013.
Nick Kent, former CEO and now vice-Chairman of Alpha said: “We were very pleased with the support we received from the joint Equiteq and Corbett Keeling team. They were very knowledgeable about our industry, helped us build a compelling value case for an investment by Baird, and managed our process very effectively and diligently to achieve an excellent result for all.”
This deal is a good example of the resurgence of Private Equity (PE) interest in consulting firms with a strong growth history. Alpha attracted 8 offers from the PE community and the shareholders chose Baird because of the flexibility of the deal structure, the financial resources they could make available and the support that Baird offered the management team in taking the company to the next stage of growth.
Chris Harper, Managing Director at Baird said: “I will join the board, but Alpha will remain an independent company and continue its operations as a leading consulting firm to the asset management industry in Europe. Our investment will not change the company’s culture, or high quality focus on its clients, however it will enable it to broaden its services and expand into new markets like the USA. Many thanks to Alpha’s advisors on this transaction, the whole process was as painless as it could be, which is a great testament to the quality of their advice and input.”
Michael Moritz, President of Globalscope, comments: “This transaction shows the remarkable sector expertise you can find within Globalscope for the consulting services industry.”
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